CareDx, Inc (NASDAQ:CDNA) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its stake in shares of CareDx, Inc (NASDAQ:CDNA) by 2.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,777 shares of the company’s stock after selling 504 shares during the period. The Manufacturers Life Insurance Company’s holdings in CareDx were worth $586,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Millennium Management LLC increased its stake in CareDx by 1,085.4% during the 2nd 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 in the last quarter. Renaissance Technologies LLC increased its position in shares of CareDx by 6.2% during the second quarter. Renaissance Technologies LLC now owns 1,512,700 shares of the company’s stock worth $23,492,000 after purchasing an additional 88,100 shares in the last quarter. Fred Alger Management LLC increased its position in shares of CareDx by 517.9% during the second quarter. Fred Alger Management LLC now owns 1,149,602 shares of the company’s stock worth $17,853,000 after purchasing an additional 963,554 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in CareDx by 78.4% in the 3rd 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in CareDx by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 499,480 shares of the company’s stock valued at $15,596,000 after purchasing an additional 13,547 shares in the last quarter.

CareDx Price Performance

CareDx stock opened at $22.86 on Friday. The firm has a 50 day simple moving average of $24.48 and a 200-day simple moving average of $23.18. The stock has a market cap of $1.23 billion, a price-to-earnings 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.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data 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. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The company had revenue of $82.88 million during the quarter, compared to analyst estimates of $80.04 million. During the same period in the prior year, the business posted ($0.43) earnings per share. The firm’s revenue for the quarter was up 23.4% compared to the same quarter last year. Equities analysts expect that CareDx, Inc will post -0.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CareDx news, Director Peter Maag sold 5,000 shares of the stock in a transaction dated 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 owns 330,024 shares of the company’s stock, valued at $8,250,600. This trade represents a 1.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 4.90% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.