Virtus Advisers LLC Invests $1.20 Million in CareDx, Inc. $CDNA

Virtus Advisers LLC bought a new stake in shares of CareDx, Inc. (NASDAQ:CDNA) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 42,046 shares of the company’s stock, valued at approximately $1,198,000. Virtus Advisers LLC owned 0.08% of CareDx at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its holdings in CareDx by 18.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,110,014 shares of the company’s stock valued at $19,703,000 after buying an additional 170,504 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in CareDx by 11.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 133,966 shares of the company’s stock worth $2,378,000 after acquiring an additional 13,619 shares in the last quarter. JPMorgan Chase & Co. grew its stake in CareDx by 41.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 68,602 shares of the company’s stock worth $1,340,000 after acquiring an additional 20,028 shares in the last quarter. First Trust Advisors LP purchased a new position in shares of CareDx during the second quarter worth approximately $1,822,000. Finally, Nebula Research & Development LLC purchased a new position in CareDx during the 2nd quarter worth $281,000.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. HC Wainwright restated a “neutral” rating and issued a $46.00 price target on shares of CareDx in a report on Friday, July 31st. Weiss Ratings upgraded shares of CareDx from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday, August 13th. Wall Street Zen upgraded shares of CareDx from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 3rd. William Blair raised shares of CareDx to a “hold” rating in a research report on Thursday, July 16th. Finally, Craig Hallum upgraded shares of CareDx from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.75.

CareDx Price Performance

CareDx stock opened at $46.99 on Friday. CareDx, Inc. has a 1-year low of $11.88 and a 1-year high of $49.76. The business has a fifty day moving average price of $35.33 and a 200-day moving average price of $25.20. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 22.70 and a beta of 2.39.

CareDx (NASDAQ:CDNA) last announced its earnings results on Thursday, July 30th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.14. CareDx had a return on equity of 2.87% and a net margin of 24.23%.The company had revenue of $131.95 million for the quarter, compared to analyst estimates of $114.05 million. During the same period in the prior year, the company posted ($0.16) EPS. The firm’s quarterly revenue was up 52.2% compared to the same quarter last year. On average, equities research analysts anticipate that CareDx, Inc. will post 0.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Hannah Valantine sold 12,103 shares of CareDx stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $23.11, for a total value of $279,700.33. Following the completion of the sale, the director directly owned 36,686 shares in the company, valued at $847,813.46. This trade represents a 24.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director George Bickerstaff sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $46.28, for a total transaction of $925,600.00. Following the sale, the director directly owned 134,061 shares in the company, valued at approximately $6,204,343.08. This represents a 12.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 114,936 shares of company stock worth $3,770,348 over the last ninety days. Insiders own 2.40% of the company’s stock.

CareDx Company Profile

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.