Paragon Associates Paragon Associates Ii Joint Venture buys $3.2 Million stake in CareDx Inc (CDNA)

CareDx Inc (CDNA) : Paragon Associates Paragon Associates Ii Joint Venture scooped up 3,800 additional shares in CareDx Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 753,800 shares of CareDx Inc which is valued at $3.2 Million.CareDx Inc makes up approximately 2.81% of Paragon Associates Paragon Associates Ii Joint Venture’s portfolio.

Other Hedge Funds, Including , Blackrock Fund Advisors boosted its stake in CDNA in the latest quarter, The investment management firm added 308 additional shares and now holds a total of 1,286 shares of CareDx Inc which is valued at $5,401.Gagnon Securities boosted its stake in CDNA in the latest quarter, The investment management firm added 1,152 additional shares and now holds a total of 1,179,514 shares of CareDx Inc which is valued at $5.1 Million. CareDx Inc makes up approx 2.55% of Gagnon Securities’s portfolio.

CareDx Inc opened for trading at $4.43 and hit $4.43 on the upside on Wednesday, eventually ending the session at $4.35, with a gain of 0.69% or 0.03 points. The heightened volatility saw the trading volume jump to 645 shares. Company has a market cap of $61 M.

On the company’s financial health, CareDx Inc reported $-0.37 EPS for the quarter, missing the analyst consensus estimate by $ -0.06 based on the information available during the earnings call on May 6, 2016. Analyst had a consensus of $-0.31. The company had revenue of $6.60 million for the quarter, compared to analysts expectations of $6.97 million. The company’s revenue was down -8.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.19 EPS.

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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