What smart money is saying about CareDx, Inc.
1 fund in our archive has pitched CareDx, Inc., most recently Baron Discovery Fund in September 2026.
CareDx, Inc. is a global innovator specializing in the discovery, development, and commercialization of diagnostic and management tools designed for transplant recipients and their healthcare providers. The company's extensive portfolio features a range of specialized diagnostic solutions for organ monitoring, including: AlloSure Kidney, AlloSure Heart, and AlloSure Lung: Advanced tests employing donor-derived cell-free DNA (dd-cfDNA) technology to assess the health of kidney, heart, and lung transplants, respectively. AlloMap Heart: A gene expression-based solution specifically for heart transplant patients. AlloSeq cfDNA: A broader surveillance tool to measure dd-cfDNA levels in the blood. CareDx also provides cutting-edge human leukocyte antigen (HLA) typing technologies, such as TruSight HLA, an NGS-based high-resolution typing solution; Olerup SSP, which uses sequence-specific primer technology for HLA allele typing; QTYPE for precise HLA typing; and AlloSeq Tx, another high-resolution HLA typing offering. For stem cell transplant recipients, the company offers AlloSeq HCT for chimerism testing. Beyond diagnostics, CareDx develops vital software and digital platforms to streamline transplant patient management. These include Ottr, a dedicated transplant patient management software; XynQAPI, focused on transplant quality tracking and waitlist management; and AlloCare, a mobile application serving as a patient-centric resource for those who have undergone transplantation. The company distributes its products directly to clients, as well as through a network of third-party distributors and sub-distributors. CareDx has forged significant partnerships, including a licensing agreement with Illumina, Inc. for the distribution, development, and commercialization of next-generation sequencing (NGS) products and technologies. Additionally, it collaborates with Cibiltech SAS to commercialize iBox, a software designed for the predictive analysis of kidney allograft loss post-transplantation. Founded in 1998, the company was initially known as XDx, Inc. before rebranding to CareDx, Inc. in March 2014. Its headquarters are located in South San Francisco, California.
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Position history
Between Q3 2025 and Q3 2026, 4 fund letters reported a position in CareDx, Inc., with 1 buy (opened or added) and 2 sells (trimmed or exited).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 1 | 0 | 1 | 1 |
| Q2 2026 | 2 | 1 | 0 | 0 |
| Q3 2025 | 1 | 0 | 1 | 0 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 4 positions · 4 moves
- TrimmedBaron Discovery FundSeptember 2026
“We sold our position in Wingstop Inc. during the quarter to allocate the proceeds into other restaurant companies where we felt there was better upside potential. We trimmed positions in Rubrik, Inc. and CareDx, Inc. after significant share price gains (up 43.4% and 129.7%, respectively) lifted them to outsized weightings in the Fund.”
CareDx, Inc. - AddedBaron Discovery FundJune 2026
“Shares of CareDx, Inc. contributed to performance. CareDx sells diagnostic testing services which detect early rejection of heart, kidney, and lung transplants. Shares declined dramatically in the third quarter of 2025, as the Centers for Medicare and Medicaid Services (CMS) MolDX Program issued a draft local coverage decision (LCD) that, if finalized, would significantly limit reimbursement for CareDx's tests. In particular, the draft LCD would remove increased coverage for HeartCare (which is a dual test including donor derived cell-free DNA (dd-cfDNA) and gene expression profiling (GEP) despite definitive data showing a heightened clinical benefit from using both tests. The draft LCD also proposes a bundled payment reimbursement model that has been studied and is recommended by medical societies. It is not yet clear whether the structure of the bundling program would help or hurt CareDx’s revenues. We thought that at their lowest levels of $11 to $12 last summer, CareDx shares were pricing in a worst-case scenario, and we meaningfully increased our position at those levels.”
CareDx, Inc. - June 2026
“We thought that at their lowest levels of $11 to $12 last summer, CareDx shares were pricing in a worst-case scenario, and we meaningfully increased our position at those levels.”
CareDx, Inc. - September 2025
“six in health care: Veracyte, HealthEquity, CareDx, ARS Pharmaceuticals, Vericel, PROCEPT BioRobotics”
CareDx, Inc.
Also mentioned · 1
These funds discuss CareDx, Inc. as a competitor, benchmark or comparable, without disclosing a position in it.
- September 2026
“The most significant detractors from the Portfolio's relative performance in the quarter were Vishay Precision Group, Babcock & Wilcox, and CareDx (not held).”
CareDx, Inc.
Fund coverage · 1 thesis
- Baron Discovery FundSeptember 2026
CareDx provides transplant rejection diagnostic testing, and its favorable CMS reimbursement outcome validated the fund's variant perception versus the market.
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