Thompson Davis & CO. Inc. grew its holdings in shares of CareDx, Inc. (NASDAQ:CDNA) by 3,294.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 203,692 shares of the company’s stock after buying an additional 197,692 shares during the period. CareDx accounts for about 1.3% of Thompson Davis & CO. Inc.’s investment portfolio, making the stock its 9th biggest holding. Thompson Davis & CO. Inc. owned 0.90% of CareDx worth $754,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Gagnon Securities LLC raised its holdings in CareDx by 2.9% during the second quarter. Gagnon Securities LLC now owns 2,084,292 shares of the company’s stock worth $2,314,000 after purchasing an additional 57,954 shares in the last quarter. Royce & Associates LP grew its position in CareDx by 39.3% in the second quarter. Royce & Associates LP now owns 733,287 shares of the company’s stock worth $814,000 after buying an additional 206,815 shares during the last quarter. Stonepine Capital Management LLC acquired a new position in CareDx in the second quarter worth approximately $212,000. Finally, Trellus Management Company LLC acquired a new position in CareDx in the third quarter worth approximately $100,000. 25.61% of the stock is currently owned by institutional investors.
CareDx (NASDAQ:CDNA) last issued its earnings results on Thursday, August 10th. The company reported ($0.19) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.19). CareDx had a negative net margin of 61.27% and a negative return on equity of 85.68%. The firm had revenue of $12.05 million during the quarter, compared to the consensus estimate of $11.87 million.
In other news, major shareholder Neil Gagnon bought 35,119 shares of the stock in a transaction on Friday, August 25th. The stock was purchased at an average price of $2.92 per share, with a total value of $102,547.48. Following the completion of the purchase, the insider now owns 890,473 shares of the company’s stock, valued at $2,600,181.16. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders acquired 75,030 shares of company stock valued at $226,758 in the last ninety days. Insiders own 5.40% of the company’s stock.
Several research firms have issued reports on CDNA. Craig Hallum restated a “buy” rating and issued a $10.00 price target (up previously from $4.00) on shares of CareDx in a research report on Monday, October 9th. Raymond James Financial, Inc. upgraded shares of CareDx from a “market perform” rating to a “buy” rating and set a $6.50 price objective on the stock in a research report on Wednesday, September 27th. ValuEngine upgraded shares of CareDx from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 26th. Piper Jaffray Companies reiterated an “overweight” rating and set a $7.00 price objective (up from $3.00) on shares of CareDx in a research report on Tuesday, September 26th. Finally, Zacks Investment Research cut shares of CareDx from a “buy” rating to a “hold” rating in a research report on Monday, September 11th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $6.69.
CareDx Company Profile
CareDx, Inc is a molecular diagnostics company. The Company is focused on the discovery, development and commercialization of clinically differentiated diagnostic surveillance solutions for transplant patients. The Company’s commercialized testing solution, the AlloMap heart transplant molecular test (AlloMap), is a gene expression test that helps clinicians monitor and identify heart transplant recipients with stable graft function having a low probability of moderate/severe acute cellular rejection.
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