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

The Manufacturers Life Insurance Company trimmed its position in shares of CareDx, Inc (NASDAQ:CDNA) by 2.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,777 shares of the company’s stock after selling 504 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in CareDx were worth $586,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd acquired a new stake in shares of CareDx in the third quarter valued at $52,000. Dynamic Technology Lab Private Ltd acquired a new position in CareDx during the 3rd quarter worth $681,000. Alpha DNA Investment Management LLC purchased a new stake in CareDx during the 3rd quarter worth about $472,000. Algert Global LLC acquired a new stake in CareDx in the 3rd quarter valued at about $892,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of 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 buying an additional 13,547 shares during the period.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CDNA shares. HC Wainwright restated a “neutral” rating on shares of CareDx in a research note on Tuesday, October 22nd. BTIG Research dropped their price objective on shares of CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Wells Fargo & Company assumed coverage on shares of CareDx in a research report on Tuesday, August 27th. They set an “underweight” rating and a $28.00 price objective for the company. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Finally, The Goldman Sachs Group raised their price target on CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. One equities research 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $29.60.

Insider Activity

In other CareDx news, Director Peter Maag sold 5,000 shares of CareDx stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $25.00, for a total transaction of $125,000.00. Following the transaction, the director now owns 330,024 shares of the company’s stock, valued at $8,250,600. The trade was a 1.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 4.90% of the company’s stock.

CareDx Trading Down 2.7 %

Shares of NASDAQ:CDNA 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. CareDx, Inc has a twelve month low of $7.42 and a twelve month high of $34.84. The company has a market capitalization of $1.23 billion, a PE ratio of -8.47 and a beta of 1.84.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.11. The firm had revenue of $82.88 million during the quarter, compared to analysts’ expectations of $80.04 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. CareDx’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.43) earnings per share. As a group, equities research analysts predict that CareDx, Inc will post -0.7 EPS for the current fiscal year.

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.