Geode Capital Management LLC Buys 32,141 Shares of CareDx, Inc (NASDAQ:CDNA)

Geode Capital Management LLC increased its stake in shares of CareDx, Inc (NASDAQ:CDNA) by 2.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,227,724 shares of the company’s stock after buying an additional 32,141 shares during the period. Geode Capital Management LLC’s holdings in CareDx were worth $38,343,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP acquired a new stake in CareDx during the third quarter worth approximately $27,000. Harvest Fund Management Co. Ltd acquired a new stake in CareDx during the 3rd quarter worth approximately $52,000. KBC Group NV bought a new stake in CareDx in the 3rd quarter valued at $99,000. nVerses Capital LLC grew its holdings in CareDx by 175.0% in the 3rd quarter. nVerses Capital LLC now owns 3,300 shares of the company’s stock valued at $103,000 after buying an additional 2,100 shares in the last quarter. Finally, Plato Investment Management Ltd acquired a new position in CareDx in the 2nd quarter valued at $62,000.

Insider Activity at CareDx

In other news, Director Peter Maag sold 5,000 shares of the stock in a transaction on Tuesday, November 26th. The stock was 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 in the company, valued at approximately $8,250,600. This represents a 1.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.90% of the stock is currently owned by insiders.

CareDx Price Performance

NASDAQ CDNA opened at $21.42 on Wednesday. The business has a fifty day moving average price of $23.33 and a two-hundred day moving average price of $23.55. The stock has a market capitalization of $1.15 billion, a PE ratio of -7.93 and a beta of 1.84. CareDx, Inc has a fifty-two week low of $7.42 and a fifty-two week high of $34.84.

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 business had revenue of $82.88 million for the quarter, compared to analyst estimates of $80.04 million. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. CareDx’s revenue was up 23.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.43) earnings per share. As a group, sell-side analysts expect that CareDx, Inc will post -0.7 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CDNA shares. StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. BTIG Research decreased their target price 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 initiated coverage on shares of CareDx in a research report on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 price target for the company. The Goldman Sachs Group increased 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. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of CareDx in a report on Tuesday, October 22nd. 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.60.

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.