Janus Henderson Group PLC Buys New Position in CareDx, Inc (NASDAQ:CDNA)

Janus Henderson Group PLC purchased a new position in CareDx, Inc (NASDAQ:CDNA - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 21,900 shares of the company's stock, valued at approximately $684,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Millennium Management LLC raised its holdings in CareDx by 1,085.4% in the second quarter. Millennium Management LLC now owns 2,140,909 shares of the company's stock worth $33,248,000 after purchasing an additional 1,960,308 shares in the last quarter. Fred Alger Management LLC raised its holdings in CareDx by 517.9% in the second quarter. Fred Alger Management LLC now owns 1,149,602 shares of the company's stock worth $17,853,000 after purchasing an additional 963,554 shares in the last quarter. FMR LLC raised its holdings in CareDx by 802.4% in the third quarter. FMR LLC now owns 625,550 shares of the company's stock worth $19,533,000 after purchasing an additional 556,230 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of CareDx by 78.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 696,893 shares of the company's stock valued at $21,760,000 after acquiring an additional 306,222 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of CareDx by 868.6% during the third 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 in the last quarter.

Insider Activity at CareDx

In other CareDx news, Director Peter Maag sold 5,000 shares of the company's stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $25.00, for a total value of $125,000.00. Following the completion of the sale, the director now directly owns 330,024 shares in the company, valued at approximately $8,250,600. This represents a 1.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

CareDx Stock Down 2.7 %

CDNA traded down $0.64 during trading hours on Friday, reaching $22.86. 779,623 shares of the company's stock traded hands, compared to its average volume of 884,545. The firm has a 50-day moving average price of $24.48 and a 200 day moving average price of $23.18. CareDx, Inc has a 52-week low of $7.42 and a 52-week high of $34.84. The firm has a market capitalization of $1.23 billion, a PE ratio of -8.47 and a beta of 1.84.

CareDx (NASDAQ:CDNA - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.25) by $0.11. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The company had revenue of $82.88 million during the quarter, compared to analysts' expectations of $80.04 million. During the same quarter in the previous year, the business earned ($0.43) EPS. CareDx's revenue was up 23.4% compared to the same quarter last year. Equities analysts predict that CareDx, Inc will post -0.7 EPS 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.