MetLife Investment Management LLC Has $902,000 Holdings in CareDx, Inc (NASDAQ:CDNA)

MetLife Investment Management LLC trimmed its stake in shares of CareDx, Inc (NASDAQ:CDNA) by 4.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,900 shares of the company’s stock after selling 1,444 shares during the period. MetLife Investment Management LLC owned about 0.05% of CareDx worth $902,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Millennium Management LLC lifted 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 purchasing an additional 1,960,308 shares in the last quarter. Fred Alger Management LLC boosted its position in CareDx by 517.9% during the 2nd quarter. Fred Alger Management LLC now owns 1,149,602 shares of the company’s stock worth $17,853,000 after acquiring an additional 963,554 shares during the last quarter. FMR LLC grew its stake in shares of CareDx by 802.4% during the 3rd quarter. FMR LLC now owns 625,550 shares of the company’s stock worth $19,533,000 after acquiring an additional 556,230 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of CareDx by 78.4% in the third 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, Allspring Global Investments Holdings LLC lifted its position in shares of CareDx by 868.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 204,987 shares of the company’s stock worth $6,401,000 after purchasing an additional 183,823 shares in the last quarter.

Insider Transactions at CareDx

In related news, Director Peter Maag sold 5,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $25.00, for a total value of $125,000.00. Following the transaction, the director now directly owns 330,024 shares in the company, valued at approximately $8,250,600. This represents a 1.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. HC Wainwright reaffirmed a “neutral” rating on shares of CareDx in a research report on Tuesday, October 22nd. BTIG Research lowered their target price on 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 began coverage on CareDx in a research note on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 price target for the company. StockNews.com upgraded CareDx from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Finally, The Goldman Sachs Group raised their target price 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, CareDx currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.60.

CareDx Trading Up 1.4 %

CDNA opened at $25.04 on Friday. The stock’s fifty day simple moving average is $25.18 and its 200 day simple moving average is $22.84. CareDx, Inc has a 1-year low of $7.42 and a 1-year high of $34.84. The stock has a market cap of $1.34 billion, a PE ratio of -9.27 and a beta of 1.84.

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