Virtue Capital Management LLC acquired a new position in CareDx, Inc (NASDAQ:CDNA - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 24,169 shares of the company's stock, valued at approximately $755,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CDNA. Millennium Management LLC lifted its stake in shares of CareDx by 1,085.4% in the 2nd quarter. Millennium Management LLC now owns 2,140,909 shares of the company's stock valued at $33,248,000 after purchasing an additional 1,960,308 shares during the period. Renaissance Technologies LLC increased its holdings in CareDx by 6.2% in the second quarter. Renaissance Technologies LLC now owns 1,512,700 shares of the company's stock valued at $23,492,000 after purchasing an additional 88,100 shares during the last quarter. Fred Alger Management LLC lifted its stake in CareDx by 30.8% in 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 period. Geode Capital Management LLC boosted its holdings in CareDx by 2.7% during the third quarter. Geode Capital Management LLC now owns 1,227,724 shares of the company's stock worth $38,343,000 after buying an additional 32,141 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of CareDx by 78.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 696,893 shares of the company's stock worth $21,760,000 after buying an additional 306,222 shares during the period.
Insider Transactions at CareDx
In other CareDx news, Director Peter Maag sold 5,000 shares of CareDx stock in a transaction 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 transaction, the director now directly owns 330,024 shares of the company's stock, valued at $8,250,600. The trade was a 1.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 4.90% of the company's stock.
CareDx Stock Down 2.8 %
CDNA traded down $0.68 during trading on Thursday, hitting $23.50. The company had a trading volume of 501,535 shares, compared to its average volume of 884,932. The firm's 50-day moving average price is $24.64 and its 200 day moving average price is $23.08. The company has a market capitalization of $1.26 billion, a PE ratio of -8.70 and a beta of 1.84. CareDx, Inc has a one year low of $7.42 and a one year high of $34.84.
CareDx (NASDAQ:CDNA - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.11. The company had revenue of $82.88 million during the quarter, compared to analysts' expectations of $80.04 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The business's quarterly revenue was up 23.4% on a year-over-year basis. During the same period last year, the business earned ($0.43) EPS. Sell-side analysts forecast that CareDx, Inc will post -0.7 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on CDNA. The Goldman Sachs Group increased their price target on shares of CareDx from $26.00 to $35.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. StockNews.com upgraded shares of CareDx from a "hold" rating to a "buy" rating in a report on Thursday, October 17th. HC Wainwright reissued a "neutral" rating on shares of CareDx in a report on Tuesday, October 22nd. BTIG Research dropped their price objective on CareDx from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company initiated coverage on CareDx in a report on Tuesday, August 27th. They set an "underweight" rating and a $28.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $29.60.
View Our Latest Stock Report on CareDx
CareDx Company Profile
(
Free Report)
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.
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