Main Management ETF Advisors LLC Makes New $1.41 Million Investment in CareDx, Inc (NASDAQ:CDNA)

Main Management ETF Advisors LLC purchased a new stake in CareDx, Inc (NASDAQ:CDNA) during the third quarter, HoldingsChannel.com reports. The firm purchased 45,008 shares of the company’s stock, valued at approximately $1,405,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Millennium Management LLC boosted its holdings in CareDx by 1,085.4% during the second quarter. Millennium Management LLC now owns 2,140,909 shares of the company’s stock worth $33,248,000 after buying an additional 1,960,308 shares during the last quarter. Fred Alger Management LLC boosted its stake in CareDx by 517.9% during the 2nd quarter. Fred Alger Management LLC now owns 1,149,602 shares of the company’s stock worth $17,853,000 after acquiring an additional 963,554 shares during the last quarter. FMR LLC grew its holdings in CareDx by 802.4% during the third quarter. FMR LLC now owns 625,550 shares of the company’s stock valued at $19,533,000 after purchasing an additional 556,230 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in CareDx by 78.4% in 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 purchasing an additional 306,222 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in CareDx in the third quarter worth $8,012,000.

Insider Activity

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

CareDx Stock Up 1.4 %

NASDAQ:CDNA opened at $25.04 on Friday. CareDx, Inc has a twelve month low of $7.42 and a twelve month high of $34.84. The business has a 50 day moving average price of $25.18 and a two-hundred day moving average price of $22.84.

CareDx (NASDAQ:CDNA) last announced its earnings results on Monday, November 4th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.11. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The business had revenue of $82.88 million during the quarter, compared to analysts’ expectations of $80.04 million. During the same quarter in the prior year, the company posted ($0.43) earnings per share. The firm’s revenue was up 23.4% on a year-over-year basis. On average, research analysts expect that CareDx, Inc will post -0.7 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.