Geode Capital Management LLC Has $38.34 Million Stock Position in CareDx, Inc (NASDAQ:CDNA)

Geode Capital Management LLC increased its stake in shares of CareDx, Inc (NASDAQ:CDNA) by 2.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,227,724 shares of the company’s stock after purchasing an additional 32,141 shares during the period. Geode Capital Management LLC owned approximately 2.29% of CareDx worth $38,343,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CDNA. Quarry LP acquired a new position in shares of CareDx during the 3rd quarter worth about $27,000. Harvest Fund Management Co. Ltd acquired a new position in CareDx during the third quarter valued at approximately $52,000. Plato Investment Management Ltd bought a new stake in CareDx in the second quarter valued at approximately $62,000. KBC Group NV acquired a new stake in CareDx in the third quarter worth $99,000. Finally, nVerses Capital LLC boosted its position in shares of CareDx by 175.0% during the third quarter. nVerses Capital LLC now owns 3,300 shares of the company’s stock worth $103,000 after purchasing an additional 2,100 shares in the last quarter.

Insider Activity at CareDx

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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.90% of the company’s stock.

Analyst Ratings Changes

CDNA has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. The Goldman Sachs Group raised 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. BTIG Research decreased 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. Wells Fargo & Company assumed coverage on shares of CareDx in a report on Tuesday, August 27th. They set an “underweight” rating and a $28.00 target price on the stock. Finally, HC Wainwright reiterated a “neutral” rating on shares of CareDx in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $29.60.

CareDx Stock Up 2.3 %

NASDAQ CDNA opened at $21.42 on Wednesday. The firm’s 50 day moving average is $23.33 and its 200-day moving average is $23.55. The company has a market capitalization of $1.15 billion, a PE ratio of -7.93 and a beta of 1.84. CareDx, Inc has a 12-month low of $7.42 and a 12-month high of $34.84.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $82.88 million for the quarter, compared to analyst estimates of $80.04 million. During the same period in the previous year, the business earned ($0.43) EPS. The company’s revenue was up 23.4% compared to the same quarter last year. As a group, sell-side analysts expect that CareDx, Inc will post -0.7 EPS for the current year.

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.