Bank of Montreal Can Trims Holdings in CareDx, Inc (NASDAQ:CDNA)

Bank of Montreal Can lowered its holdings in shares of CareDx, Inc (NASDAQ:CDNA) by 32.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 392,819 shares of the company’s stock after selling 191,770 shares during the period. Bank of Montreal Can’s holdings in CareDx were worth $11,667,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Millennium Management LLC raised its holdings in shares of CareDx by 1,085.4% in 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 raised 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 last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in CareDx by 78.4% during 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 acquiring an additional 306,222 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in CareDx by 868.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 204,987 shares of the company’s stock worth $6,401,000 after acquiring an additional 183,823 shares during the period. Finally, Driehaus Capital Management LLC purchased a new position in shares of CareDx in the 2nd quarter valued at approximately $2,852,000.

Analyst Ratings Changes

Several brokerages have issued reports on CDNA. StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. HC Wainwright reiterated a “neutral” rating on shares of CareDx in a research note on Tuesday, October 22nd. BTIG Research reduced their price objective on shares of CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. The Goldman Sachs Group boosted their target price on CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company started coverage on CareDx in a report on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 price target for the company. 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. Based on data from MarketBeat.com, CareDx has an average rating of “Moderate Buy” and an average price target of $29.60.

CareDx Trading Down 1.5 %

Shares of CDNA opened at $24.54 on Monday. The firm’s 50-day moving average is $25.55 and its two-hundred day moving average is $22.60. CareDx, Inc has a twelve month low of $7.42 and a twelve month high of $34.84. The firm has a market capitalization of $1.32 billion, a P/E ratio of -9.09 and a beta of 1.80.

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

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.