Allspring Global Investments Holdings LLC Raises Stock Holdings in CareDx, Inc (NASDAQ:CDNA)

Allspring Global Investments Holdings LLC boosted its stake in CareDx, Inc (NASDAQ:CDNA) by 59.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 327,343 shares of the company’s stock after buying an additional 122,356 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.61% of CareDx worth $7,008,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP purchased a new stake in CareDx during the third quarter worth about $27,000. Royce & Associates LP increased its stake in CareDx by 0.3% during the third quarter. Royce & Associates LP now owns 393,286 shares of the company’s stock worth $12,280,000 after purchasing an additional 1,000 shares during the period. Quest Partners LLC increased its stake in CareDx by 37.8% during the third quarter. Quest Partners LLC now owns 5,611 shares of the company’s stock worth $175,000 after purchasing an additional 1,540 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in CareDx during the third quarter worth about $52,000. Finally, Exchange Traded Concepts LLC increased its stake in CareDx by 6.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 29,107 shares of the company’s stock worth $623,000 after purchasing an additional 1,816 shares during the period.

CareDx Stock Up 0.9 %

Shares of CDNA opened at $24.70 on Thursday. The stock has a 50 day moving average price of $22.70 and a 200 day moving average price of $25.42. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of -9.15 and a beta of 1.87. CareDx, Inc has a 52-week low of $7.42 and a 52-week high of $34.84.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. StockNews.com lowered shares of CareDx from a “buy” rating to a “hold” rating in a research note on Tuesday. BTIG Research cut their target price on shares of CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Wells Fargo & Company upgraded shares of CareDx from an “underweight” rating to an “equal weight” rating and cut their target price for the stock from $28.00 to $24.00 in a research note on Wednesday, January 15th. Finally, HC Wainwright restated a “neutral” rating and set a $26.00 target price on shares of CareDx in a research note on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.33.

Insider Activity at CareDx

In related news, Director Peter Maag sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was 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 $8,250,600. This represents a 1.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.90% of the stock is currently owned by corporate insiders.

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.