CareDx, Inc (NASDAQ:CDNA) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its holdings in CareDx, Inc (NASDAQ:CDNA - Free Report) by 868.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 204,987 shares of the company's stock after buying an additional 183,823 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.39% of CareDx worth $6,401,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CDNA. GAMMA Investing LLC increased its stake in shares of CareDx by 1,021.8% during the 2nd quarter. GAMMA Investing LLC now owns 2,210 shares of the company's stock valued at $34,000 after acquiring an additional 2,013 shares during the last quarter. nVerses Capital LLC increased its stake in shares of CareDx by 175.0% during the 3rd quarter. nVerses Capital LLC now owns 3,300 shares of the company's stock valued at $103,000 after acquiring an additional 2,100 shares during the last quarter. Plato Investment Management Ltd acquired a new position in shares of CareDx during the 2nd quarter valued at about $62,000. Creative Planning acquired a new position in shares of CareDx during the 3rd quarter valued at about $204,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of CareDx during the 3rd quarter valued at about $206,000.

CareDx Price Performance

NASDAQ CDNA traded up $0.50 on Monday, reaching $22.89. The company had a trading volume of 668,525 shares, compared to its average volume of 902,837. The firm has a market capitalization of $1.19 billion, a PE ratio of -6.72 and a beta of 1.77. CareDx, Inc has a 1 year low of $4.92 and a 1 year high of $34.84. The firm has a 50-day moving average of $29.04 and a 200-day moving average of $20.25.

CareDx (NASDAQ:CDNA - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The company reported ($0.03) earnings per share for the quarter, topping analysts' consensus estimates of ($0.40) by $0.37. The firm had revenue of $92.27 million during the quarter, compared to analysts' expectations of $67.20 million. CareDx had a negative return on equity of 53.65% and a negative net margin of 53.73%. As a group, sell-side analysts expect that CareDx, Inc will post -0.84 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Wells Fargo & Company assumed coverage on CareDx in a report on Tuesday, August 27th. They set an "underweight" rating and a $28.00 target price for the company. Craig Hallum boosted their target price on CareDx from $22.00 to $32.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. StockNews.com upgraded CareDx from a "hold" rating to a "buy" rating in a report on Thursday, October 17th. The Goldman Sachs Group boosted their target price on CareDx from $26.00 to $35.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Finally, BTIG Research upgraded CareDx from a "neutral" rating to a "buy" rating and set a $40.00 target price for the company in a report on Monday, August 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $30.60.

Insider Activity

In other news, insider Alexander L. Johnson sold 34,231 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $33.55, for a total transaction of $1,148,450.05. Following the completion of the transaction, the insider now directly owns 284,983 shares in the company, valued at approximately $9,561,179.65. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Alexander L. Johnson sold 34,231 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $33.55, for a total transaction of $1,148,450.05. Following the completion of the transaction, the insider now directly owns 284,983 shares in the company, valued at approximately $9,561,179.65. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $702,327.06. Following the transaction, the insider now owns 284,983 shares of the company's stock, valued at approximately $9,284,746.14. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 91,340 shares of company stock worth $3,025,415. 4.20% of the stock is currently owned by insiders.

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.