Connor Clark & Lunn Investment Management Ltd. Increases Stock Position in CareDx, Inc (NASDAQ:CDNA)

Connor Clark & Lunn Investment Management Ltd. grew its position in CareDx, Inc (NASDAQ:CDNA - Free Report) by 25.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 875,197 shares of the company's stock after purchasing an additional 178,304 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 1.63% of CareDx worth $18,738,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Quarry LP bought a new stake in CareDx during the third quarter valued at $27,000. Harvest Fund Management Co. Ltd bought a new stake in shares of CareDx during the 3rd quarter valued at about $52,000. KBC Group NV acquired a new stake in CareDx during the third quarter worth approximately $99,000. Plato Investment Management Ltd increased its holdings in CareDx by 34.1% in the fourth quarter. Plato Investment Management Ltd now owns 5,390 shares of the company's stock worth $116,000 after purchasing an additional 1,370 shares in the last quarter. Finally, Quest Partners LLC lifted its stake in CareDx by 37.8% in the third quarter. Quest Partners LLC now owns 5,611 shares of the company's stock valued at $175,000 after buying an additional 1,540 shares during the period.

Analyst Ratings Changes

Several brokerages have recently commented on CDNA. HC Wainwright reduced their price objective on shares of CareDx from $26.00 to $25.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. Stephens reaffirmed an "overweight" rating and issued a $40.00 price target on shares of CareDx in a research note on Thursday, February 27th. Wells Fargo & Company upgraded shares of CareDx from an "underweight" rating to an "equal weight" rating and dropped their price objective for the company from $28.00 to $24.00 in a report on Wednesday, January 15th. Finally, StockNews.com upgraded CareDx from a "hold" rating to a "buy" rating in a research note on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $31.83.

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CareDx Price Performance

Shares of NASDAQ CDNA traded up $0.37 during mid-day trading on Monday, reaching $19.27. 672,665 shares of the company's stock traded hands, compared to its average volume of 836,347. The business has a 50-day simple moving average of $22.24 and a 200 day simple moving average of $24.31. The stock has a market cap of $1.07 billion, a P/E ratio of -7.14 and a beta of 1.95. CareDx, Inc has a 1-year low of $7.42 and a 1-year high of $34.84.

CareDx (NASDAQ:CDNA - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $1.46. The business had revenue of $86.58 million during the quarter, compared to the consensus estimate of $84.56 million. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. Equities research analysts anticipate that CareDx, Inc will post -0.9 earnings per share for the current fiscal year.

CareDx 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.