CareDx, Inc (NASDAQ:CDNA) Shares Purchased by Fmr LLC

FMR LLC grew its stake in CareDx, Inc (NASDAQ:CDNA - Free Report) by 802.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 625,550 shares of the company's stock after acquiring an additional 556,230 shares during the period. FMR LLC owned 1.17% of CareDx worth $19,533,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CDNA. Renaissance Technologies LLC lifted its position in shares of 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 last quarter. Allspring Global Investments Holdings LLC lifted its holdings 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 purchasing an additional 183,823 shares during the last quarter. Driehaus Capital Management LLC acquired a new stake in shares of CareDx in the 2nd quarter worth $2,852,000. Hanseatic Management Services Inc. purchased a new position in CareDx during the 3rd quarter worth $781,000. Finally, Creative Planning acquired a new position in CareDx during the 3rd quarter valued at about $204,000.

Analyst Ratings Changes

Several brokerages have weighed in on CDNA. HC Wainwright reissued a "neutral" rating on shares of CareDx in a report on Tuesday, October 22nd. The Goldman Sachs Group raised their price target on shares of CareDx from $26.00 to $35.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Wells Fargo & Company began coverage on CareDx in a research report on Tuesday, August 27th. They issued an "underweight" rating and a $28.00 target price on the stock. StockNews.com raised CareDx from a "hold" rating to a "buy" rating in a research report on Thursday, October 17th. Finally, BTIG Research reduced their price target on shares of CareDx from $40.00 to $35.00 and set a "buy" rating for the company in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, CareDx presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.60.

Insider Activity at CareDx

In other CareDx news, Director Peter Maag sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $25.00, for a total transaction of $125,000.00. Following the completion of the sale, the director now directly owns 330,024 shares in the company, valued at $8,250,600. The trade was a 1.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.90% of the company's stock.

CareDx Stock Performance

CDNA stock traded up $0.11 during midday trading on Wednesday, reaching $24.18. 548,700 shares of the company were exchanged, compared to its average volume of 886,538. The stock's 50-day simple moving average is $24.92 and its 200 day simple moving average is $23.07. The company has a market cap of $1.30 billion, a price-to-earnings ratio of -8.91 and a beta of 1.84. 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 posted its earnings results on Monday, November 4th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.11. The firm had revenue of $82.88 million during 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 firm's revenue for the quarter was up 23.4% on a year-over-year basis. During the same period last year, the firm posted ($0.43) EPS. On average, research analysts anticipate that CareDx, Inc will post -0.7 earnings per share for the current year.

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.