ARK Investment Management LLC Decreases Holdings in CareDx, Inc (NASDAQ:CDNA)

ARK Investment Management LLC reduced its stake in CareDx, Inc (NASDAQ:CDNA - Free Report) by 47.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,988,597 shares of the company's stock after selling 2,713,754 shares during the period. CareDx makes up 0.9% of ARK Investment Management LLC's portfolio, making the stock its 28th biggest position. ARK Investment Management LLC owned approximately 5.74% of CareDx worth $93,319,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of CDNA. Principal Financial Group Inc. purchased a new position in CareDx in the 3rd quarter worth approximately $557,000. Hanseatic Management Services Inc. bought a new stake in shares of CareDx during the 3rd quarter valued at $781,000. Semanteon Capital Management LP bought a new stake in shares of CareDx during the 3rd quarter valued at $239,000. Allspring Global Investments Holdings LLC grew its position in shares of CareDx by 868.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 204,987 shares of the company's stock valued at $6,401,000 after acquiring an additional 183,823 shares during the period. Finally, Harbour Capital Advisors LLC bought a new stake in shares of CareDx during the 3rd quarter valued at $373,000.

CareDx Price Performance

Shares of NASDAQ CDNA traded down $0.23 during mid-day trading on Friday, hitting $23.65. 733,570 shares of the company's stock traded hands, compared to its average volume of 903,356. The company's 50-day moving average is $27.42 and its two-hundred day moving average is $20.99. The company has a market capitalization of $1.25 billion, a P/E ratio of -8.84 and a beta of 1.80. CareDx, Inc has a 1 year low of $6.91 and a 1 year high of $34.84.

CareDx (NASDAQ:CDNA - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.11. The firm had revenue of $82.88 million for the quarter, compared to analysts' expectations of $80.04 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 54.34%. The business's revenue was up 23.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.43) EPS. Equities analysts anticipate that CareDx, Inc will post -0.83 EPS for the current fiscal year.

Insider Activity at CareDx

In other CareDx news, insider Alexander L. Johnson sold 34,231 shares of the company's stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $33.55, for a total value of $1,148,450.05. Following the transaction, the insider now directly owns 284,983 shares in the company, valued at $9,561,179.65. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Alexander L. Johnson sold 21,557 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $32.58, for a total transaction of $702,327.06. Following the transaction, the insider now directly owns 284,983 shares in the company, valued at approximately $9,284,746.14. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander L. Johnson sold 34,231 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $33.55, for a total transaction of $1,148,450.05. Following the transaction, the insider now owns 284,983 shares in the company, valued at approximately $9,561,179.65. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 91,340 shares of company stock worth $3,025,415. Insiders own 4.90% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CDNA shares. Craig Hallum boosted their price objective on shares of CareDx from $22.00 to $32.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. StockNews.com raised shares of CareDx from a "hold" rating to a "buy" rating in a research report on Thursday, October 17th. BTIG Research dropped their target price on shares of CareDx from $40.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday. Wells Fargo & Company initiated coverage on shares of CareDx in a report on Tuesday, August 27th. They issued an "underweight" rating and a $28.00 target price for the company. Finally, HC Wainwright reaffirmed a "neutral" rating on shares of CareDx in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $29.60.

CareDx Company Profile

CareDx, Inc engages in the discovery, development, and commercialization of diagnostic solutions for transplant patients and caregivers in the United States and internationally. It also provides AlloSure Kidney, a donor-derived cell-free DNA (dd-cfDNA) solution for kidney transplant patients; AlloMap Heart, a gene expression solution for heart transplant patients; AlloSure Heart, a dd-cfDNA solution for heart transplant patients; and AlloSure Lung, a dd-cfDNA solution for lung transplant patients.