UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases New Position in CareDx, Inc (NASDAQ:CDNA)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in CareDx, Inc (NASDAQ:CDNA) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 53,514 shares of the company’s stock, valued at approximately $1,671,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.10% of CareDx as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Millennium Management LLC boosted its position in shares of CareDx by 1,085.4% during the second quarter. Millennium Management LLC now owns 2,140,909 shares of the company’s stock valued at $33,248,000 after buying an additional 1,960,308 shares during the last quarter. Fred Alger Management LLC lifted 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 valued at $17,853,000 after acquiring an additional 963,554 shares during the period. FMR LLC boosted its holdings in shares of CareDx by 802.4% during the 3rd quarter. FMR LLC now owns 625,550 shares of the company’s stock valued at $19,533,000 after acquiring an additional 556,230 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of CareDx by 78.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 696,893 shares of the company’s stock worth $21,760,000 after acquiring an additional 306,222 shares during the period. Finally, Allspring Global Investments Holdings LLC raised 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 purchasing an additional 183,823 shares during the last quarter.

Insider Buying and Selling

In related news, Director Peter Maag sold 5,000 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $25.00, for a total value 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 approximately $8,250,600. This trade represents a 1.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.90% of the stock is owned by company insiders.

CareDx Price Performance

Shares of NASDAQ CDNA opened at $22.87 on Tuesday. The stock has a market cap of $1.23 billion, a PE ratio of -8.47 and a beta of 1.84. CareDx, Inc has a 1 year low of $7.42 and a 1 year high of $34.84. The firm has a fifty day moving average price of $24.48 and a 200-day moving average price of $23.24.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.14) 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 business had revenue of $82.88 million for the quarter, compared to analysts’ expectations of $80.04 million. During the same period last year, the firm earned ($0.43) earnings per share. The business’s quarterly 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

A number of equities research analysts have weighed in on CDNA shares. The Goldman Sachs Group boosted their target price on shares of CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a research note 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 research report on Tuesday, November 5th. StockNews.com raised CareDx from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. HC Wainwright reaffirmed a “neutral” rating on shares of CareDx in a research report on Tuesday, October 22nd. Finally, Wells Fargo & Company began coverage on shares of CareDx in a research note on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, CareDx currently has an average rating of “Moderate Buy” and a consensus price target of $29.60.

CareDx Company 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.