Bellevue Group AG Sells 767,119 Shares of CareDx, Inc (NASDAQ:CDNA)

Bellevue Group AG lessened its position in shares of CareDx, Inc (NASDAQ:CDNA - Free Report) by 19.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,145,456 shares of the company's stock after selling 767,119 shares during the quarter. CareDx accounts for 1.6% of Bellevue Group AG's portfolio, making the stock its 19th biggest holding. Bellevue Group AG owned 5.87% of CareDx worth $98,217,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of CareDx by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 4,300,016 shares of the company's stock valued at $45,537,000 after purchasing an additional 180,334 shares during the last quarter. Millennium Management LLC grew its position in CareDx by 1,085.4% during the second quarter. Millennium Management LLC now owns 2,140,909 shares of the company's stock valued at $33,248,000 after buying an additional 1,960,308 shares during the period. Renaissance Technologies LLC grew its position in CareDx by 6.2% during the second quarter. Renaissance Technologies LLC now owns 1,512,700 shares of the company's stock valued at $23,492,000 after buying an additional 88,100 shares during the period. Fred Alger Management LLC increased its holdings in CareDx by 30.8% during the third quarter. Fred Alger Management LLC now owns 1,503,521 shares of the company's stock valued at $46,947,000 after buying an additional 353,919 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in CareDx by 78.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 696,893 shares of the company's stock worth $21,760,000 after acquiring an additional 306,222 shares during the period.

CareDx Trading Down 1.5 %

CDNA traded down $0.37 on Friday, hitting $24.54. 274,852 shares of the company's stock traded hands, compared to its average volume of 832,657. CareDx, Inc has a one year low of $7.42 and a one year high of $34.84. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of -9.09 and a beta of 1.80. The company's 50 day simple moving average is $25.55 and its 200-day simple moving average is $22.60.

CareDx (NASDAQ:CDNA - Get Free Report) last released its earnings results on Monday, November 4th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.11. The firm had revenue of $82.88 million for the quarter, compared to the consensus estimate of $80.04 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The company's quarterly revenue was up 23.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.43) earnings per share. As a group, equities analysts anticipate that CareDx, Inc will post -0.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CDNA shares. Wells Fargo & Company started coverage on shares of CareDx in a research report on Tuesday, August 27th. They set an "underweight" rating and a $28.00 price objective for the company. StockNews.com raised CareDx from a "hold" rating to a "buy" rating in a report on Thursday, October 17th. HC Wainwright reaffirmed a "neutral" rating on shares of CareDx in a research note on Tuesday, October 22nd. BTIG Research cut their price objective on CareDx from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, November 5th. Finally, The Goldman Sachs Group increased their target price on shares of CareDx from $26.00 to $35.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average 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.