Picton Mahoney Asset Management Cuts Stock Position in CareDx Inc (NASDAQ:CDNA)

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Picton Mahoney Asset Management cut its holdings in CareDx Inc (NASDAQ:CDNA) by 4.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 86,500 shares of the company’s stock after selling 4,000 shares during the quarter. Picton Mahoney Asset Management owned 0.21% of CareDx worth $3,114,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Private Wealth Partners LLC bought a new stake in shares of CareDx in the second quarter valued at about $216,000. State Board of Administration of Florida Retirement System raised its holdings in CareDx by 25.2% in the second quarter. State Board of Administration of Florida Retirement System now owns 15,745 shares of the company’s stock worth $567,000 after purchasing an additional 3,170 shares in the last quarter. Lisanti Capital Growth LLC raised its holdings in CareDx by 105.4% in the second quarter. Lisanti Capital Growth LLC now owns 107,135 shares of the company’s stock worth $3,856,000 after purchasing an additional 54,975 shares in the last quarter. Chicago Equity Partners LLC bought a new position in CareDx in the second quarter worth about $419,000. Finally, Swiss National Bank raised its holdings in CareDx by 15.9% in the second quarter. Swiss National Bank now owns 69,400 shares of the company’s stock worth $2,498,000 after purchasing an additional 9,500 shares in the last quarter. 94.24% of the stock is owned by hedge funds and other institutional investors.

CDNA has been the subject of a number of recent research reports. BidaskClub downgraded shares of CareDx from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th. Craig Hallum set a $48.00 target price on shares of CareDx and gave the stock a “positive” rating in a report on Thursday, July 11th. TheStreet downgraded shares of CareDx from a “c” rating to a “d” rating in a report on Thursday, May 23rd. HC Wainwright reiterated a “buy” rating on shares of CareDx in a report on Friday, August 2nd. Finally, Zacks Investment Research upgraded shares of CareDx from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $44.00.

In other news, CEO Peter Maag sold 50,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $28.84, for a total transaction of $1,442,000.00. Following the sale, the chief executive officer now owns 379,049 shares in the company, valued at $10,931,773.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James P. Yee sold 20,000 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $37.54, for a total value of $750,800.00. Following the sale, the insider now owns 62,170 shares in the company, valued at approximately $2,333,861.80. The disclosure for this sale can be found here. Insiders have sold 140,084 shares of company stock worth $4,773,305 in the last 90 days. Insiders own 3.20% of the company’s stock.

Shares of CDNA stock traded down $0.82 during trading hours on Friday, reaching $22.80. 547,412 shares of the company’s stock were exchanged, compared to its average volume of 1,008,935. CareDx Inc has a 1 year low of $19.11 and a 1 year high of $41.27. The stock has a market cap of $1.00 billion, a PE ratio of -17.40 and a beta of 0.90. The stock’s fifty day moving average price is $30.99 and its two-hundred day moving average price is $31.59.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.19) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.07). CareDx had a negative return on equity of 47.53% and a negative net margin of 38.29%. The business had revenue of $31.45 million for the quarter, compared to analysts’ expectations of $27.96 million. On average, equities analysts expect that CareDx Inc will post -0.7 earnings per share for the current fiscal year.

CareDx Company Profile

CareDx, Inc operates as a transplant diagnostics company,which discovers, develops, and commercializes diagnostic solutions. Its product includes AlloMap, AlloSure, and Laboratory products. The company was founded on December 21, 1998 and is headquartered in Brisbane, CA.

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Institutional Ownership by Quarter for CareDx (NASDAQ:CDNA)

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