Janus Henderson Group PLC Buys New Stake in CareDx, Inc (NASDAQ:CDNA)

Janus Henderson Group PLC purchased a new stake in shares of CareDx, Inc (NASDAQ:CDNA) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 21,900 shares of the company’s stock, valued at approximately $684,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd acquired a new stake in shares of CareDx during the 3rd quarter valued at about $52,000. Plato Investment Management Ltd acquired a new stake in CareDx in the second quarter valued at approximately $62,000. KBC Group NV purchased a new stake in shares of CareDx in the third quarter valued at approximately $99,000. nVerses Capital LLC raised its stake in shares of CareDx by 175.0% during the 3rd quarter. nVerses Capital LLC now owns 3,300 shares of the company’s stock worth $103,000 after buying an additional 2,100 shares during the period. Finally, Meeder Asset Management Inc. purchased a new position in shares of CareDx during the 2nd quarter valued at approximately $142,000.

CareDx Price Performance

CDNA opened at $22.86 on Friday. The company’s 50 day simple moving average is $24.48 and its two-hundred day simple moving average is $23.18. The firm has a market capitalization 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 announced its quarterly earnings data on Monday, November 4th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.11. The firm had revenue of $82.88 million for 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%. The firm’s revenue was up 23.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.43) earnings per share. On average, equities analysts anticipate that CareDx, Inc will post -0.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, Director Peter Maag sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now owns 330,024 shares in the company, valued at $8,250,600. This trade represents a 1.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.90% of the company’s stock.

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.