Paragon Associates Paragon Associates Ii Joint Venture buys $5,599,026 stake in CareDx Inc (CDNA)

CareDx Inc (CDNA) : Paragon Associates Paragon Associates Ii Joint Venture scooped up 420,000 additional shares in CareDx Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 1,173,800 shares of CareDx Inc which is valued at $5,599,026.CareDx Inc makes up approximately 5.75% of Paragon Associates Paragon Associates Ii Joint Venture’s portfolio.

Other Hedge Funds, Including , Acuta Capital Partners added CDNA to its portfolio by purchasing 64,627 company shares during the most recent quarter which is valued at $308,271. CareDx Inc makes up approx 0.15% of Acuta Capital Partners’s portfolio.Spark Investment Management reduced its stake in CDNA by selling 12,188 shares or 42.63% in the most recent quarter. The Hedge Fund company now holds 16,400 shares of CDNA which is valued at $78,228. CareDx Inc makes up approx 0.01% of Spark Investment Management’s portfolio.Blackrock Investment Management boosted its stake in CDNA in the latest quarter, The investment management firm added 548 additional shares and now holds a total of 1,496 shares of CareDx Inc which is valued at $7,136.Royce Associates Lp boosted its stake in CDNA in the latest quarter, The investment management firm added 48,828 additional shares and now holds a total of 134,745 shares of CareDx Inc which is valued at $653,513.

CareDx Inc closed down -0.14 points or -3.00% at $4.52 with 6,896 shares getting traded on Thursday. Post opening the session at $4.58, the shares hit an intraday low of $4.52 and an intraday high of $4.6 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, CareDx Inc reported $-0.29 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Aug 10, 2016. Analyst had a consensus of $-0.27. The company had revenue of $10.70 million for the quarter, compared to analysts expectations of $10.42 million. The company’s revenue was up 50.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.27 EPS.

Many Wall Street Analysts have commented on CareDx Inc. Shares were Reiterated by Mizuho on Jun 14, 2016 to “Buy” and Lowered the Price Target to $ 8 from a previous price target of $12 .

CareDx Inc. formerly XDx Inc. is a commercial-stage company which develops markets and delivers a diagnostic surveillance solution for heart transplant recipients. The Company’s commercialized testing solution the AlloMap heart transplant molecular test or AlloMap is a non-invasive blood-based test used to monitor heart transplant recipients for acute cellular rejection. AlloMap uses gene expression technology for the identification of heart transplant recipients. AlloMap provides a single integer score ranging from 0 to 40 and determines the probability of moderate to severe acute cellular rejection. As of December 31 2014 the Company performed more than 66000 commercial AlloMap tests in total. The Company is also engaged in the new product development in other areas of transplant surveillance such as the use of cell-free donor de-oxy ribonucleic acid (cfDNA) technology as a biomarker for rejection.

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