Paragon Associates & Paragon Associates II Joint Venture Purchases 205,597 Shares of CareDx, Inc. $CDNA

Paragon Associates & Paragon Associates II Joint Venture boosted its position in CareDx, Inc. (NASDAQ:CDNA) by 93.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 425,000 shares of the company’s stock after buying an additional 205,597 shares during the quarter. CareDx makes up about 11.0% of Paragon Associates & Paragon Associates II Joint Venture’s investment portfolio, making the stock its 3rd largest position. Paragon Associates & Paragon Associates II Joint Venture’s holdings in CareDx were worth $6,180,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CDNA. Hood River Capital Management LLC grew its position in CareDx by 11.5% in the 2nd quarter. Hood River Capital Management LLC now owns 1,765,981 shares of the company’s stock worth $34,507,000 after purchasing an additional 182,025 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of CareDx by 17.7% during the second quarter. Envestnet Asset Management Inc. now owns 22,489 shares of the company’s stock valued at $439,000 after buying an additional 3,389 shares during the last quarter. SG Capital Management LLC bought a new stake in shares of CareDx during the second quarter valued at approximately $6,171,000. First Eagle Investment Management LLC boosted its position in shares of CareDx by 25.4% during the third quarter. First Eagle Investment Management LLC now owns 475,146 shares of the company’s stock worth $6,909,000 after buying an additional 96,123 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of CareDx by 3.4% during the second quarter. Geode Capital Management LLC now owns 1,323,497 shares of the company’s stock worth $25,864,000 after buying an additional 43,074 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CDNA shares. Zacks Research raised CareDx from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 18th. Craig Hallum downgraded CareDx from a “buy” rating to a “hold” rating and set a $26.00 target price on the stock. in a research note on Tuesday, January 6th. BTIG Research boosted their price target on CareDx from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Wall Street Zen cut CareDx from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Wells Fargo & Company raised their price target on CareDx from $18.00 to $21.00 and gave the company an “equal weight” rating in a report on Wednesday, February 25th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $27.33.

Insider Activity at CareDx

In other news, CEO John Walter Hanna, Jr. sold 19,280 shares of the company’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $21.16, for a total value of $407,964.80. Following the completion of the sale, the chief executive officer owned 597,405 shares in the company, valued at $12,641,089.80. This represents a 3.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders sold 29,636 shares of company stock valued at $625,949. 4.40% of the stock is currently owned by insiders.

CareDx Price Performance

NASDAQ CDNA opened at $17.89 on Friday. CareDx, Inc. has a 12 month low of $10.96 and a 12 month high of $21.49. The firm has a market capitalization of $916.33 million, a PE ratio of -44.73 and a beta of 2.52. The company’s 50 day simple moving average is $19.53 and its 200 day simple moving average is $17.04.

CareDx (NASDAQ:CDNA) last released its earnings results on Tuesday, February 24th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.12). The firm had revenue of $108.39 million during the quarter, compared to analyst estimates of $102.76 million. CareDx had a negative return on equity of 6.50% and a negative net margin of 5.65%.The business’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same quarter last year, the company earned $0.18 earnings per share. Sell-side analysts anticipate that CareDx, Inc. will post -0.9 earnings per share for the current fiscal year.

About CareDx

CareDx, Inc (NASDAQ: CDNA) is a precision diagnostics company focused on the care of transplant patients. The firm develops and commercializes non?invasive tests designed to detect organ transplant rejection and infection risk, helping physicians make informed management decisions throughout the post?transplant journey.

The company’s core product portfolio includes AlloMap®, a gene expression profiling test for heart transplant recipients, and AlloSure®, a donor?derived cell?free DNA assay used primarily in kidney transplant monitoring.