CareDx, Inc (NASDAQ:CDNA) Stock Holdings Lessened by ARK Investment Management LLC

ARK Investment Management LLC decreased its holdings in shares of CareDx, Inc (NASDAQ:CDNA) by 47.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 2,988,597 shares of the company’s stock after selling 2,713,754 shares during the period. CareDx makes up approximately 0.9% of ARK Investment Management LLC’s portfolio, making the stock its 28th biggest position. ARK Investment Management LLC owned 0.06% of CareDx worth $93,319,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. ClariVest Asset Management LLC raised its position in shares of CareDx by 2.9% during the 2nd quarter. ClariVest Asset Management LLC now owns 64,027 shares of the company’s stock worth $994,000 after purchasing an additional 1,810 shares during the period. GAMMA Investing LLC grew its position in CareDx by 1,021.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock worth $34,000 after purchasing an additional 2,013 shares during the last quarter. nVerses Capital LLC raised its holdings in shares of CareDx by 175.0% during the third quarter. nVerses Capital LLC now owns 3,300 shares of the company’s stock valued at $103,000 after buying an additional 2,100 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of CareDx by 8.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 29,396 shares of the company’s stock worth $312,000 after buying an additional 2,344 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in CareDx by 13.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 21,164 shares of the company’s stock worth $329,000 after buying an additional 2,503 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CDNA shares. The Goldman Sachs Group boosted their price target on CareDx from $26.00 to $35.00 and gave the stock 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 research report on Thursday, October 17th. HC Wainwright reiterated a “neutral” rating on shares of CareDx in a research note on Tuesday, October 22nd. BTIG Research decreased their price target on CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Craig Hallum boosted their price objective on CareDx from $22.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CareDx presently has an average rating of “Moderate Buy” and a consensus price target of $29.60.

Insider Transactions at CareDx

In related news, insider Alexander L. Johnson sold 34,231 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $33.55, for a total value of $1,148,450.05. Following the completion of the sale, the insider now owns 284,983 shares in the company, valued at approximately $9,561,179.65. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Alexander L. Johnson sold 34,231 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $33.55, for a total value of $1,148,450.05. Following the completion of the sale, the insider now directly owns 284,983 shares of the company’s stock, valued at approximately $9,561,179.65. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alexander L. Johnson sold 21,557 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $32.58, for a total value of $702,327.06. Following the completion of the transaction, the insider now owns 284,983 shares in the company, valued at $9,284,746.14. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 91,340 shares of company stock valued at $3,025,415 over the last ninety days. Corporate insiders own 4.90% of the company’s stock.

CareDx Stock Up 2.9 %

CDNA opened at $23.88 on Friday. The firm has a market cap of $1.26 billion, a PE ratio of -8.84 and a beta of 1.80. The business has a fifty day simple moving average of $27.42 and a 200-day simple moving average of $20.99. CareDx, Inc has a fifty-two week low of $6.11 and a fifty-two week high of $34.84.

CareDx (NASDAQ:CDNA) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.11. The business had revenue of $82.88 million during the quarter, compared to analyst estimates of $80.04 million. CareDx had a negative return on equity of 54.34% and a negative net margin of 45.90%. CareDx’s revenue for the quarter was up 23.4% on a year-over-year basis. During the same quarter last year, the company posted ($0.43) EPS. On average, equities research analysts anticipate that CareDx, Inc will post -0.83 EPS for the current fiscal year.

About CareDx

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.