ARK Investment Management LLC Buys 70,468 Shares of CareDx, Inc. $CDNA

ARK Investment Management LLC boosted its stake in shares of CareDx, Inc. (NASDAQ:CDNA) by 3.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,170,625 shares of the company’s stock after purchasing an additional 70,468 shares during the period. ARK Investment Management LLC owned about 4.22% of CareDx worth $31,561,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CDNA. Dimensional Fund Advisors LP lifted its position in shares of CareDx by 26.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,216,524 shares of the company’s stock valued at $17,690,000 after buying an additional 253,739 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in CareDx by 25.4% in the 3rd quarter. First Eagle Investment Management LLC now owns 475,146 shares of the company’s stock worth $6,909,000 after acquiring an additional 96,123 shares in the last quarter. Rafferty Asset Management LLC raised its stake in CareDx by 29.6% during the 3rd quarter. Rafferty Asset Management LLC now owns 92,498 shares of the company’s stock worth $1,345,000 after acquiring an additional 21,129 shares during the period. Quantbot Technologies LP purchased a new position in CareDx during the third quarter valued at approximately $89,000. Finally, Palumbo Wealth Management LLC bought a new position in shares of CareDx in the third quarter worth approximately $538,000.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CDNA shares. Wall Street Zen downgraded shares of CareDx from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Wells Fargo & Company increased their price target on CareDx from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 25th. Craig Hallum downgraded CareDx from a “buy” rating to a “hold” rating and set a $26.00 price objective on the stock. in a research report on Tuesday, January 6th. BTIG Research upped their price objective on CareDx from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Finally, Zacks Research upgraded CareDx from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 18th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $27.33.

CareDx Stock Up 1.4%

CareDx stock opened at $19.06 on Thursday. The company has a market cap of $976.25 million, a price-to-earnings ratio of -47.65 and a beta of 2.52. The firm’s fifty day moving average is $19.58 and its 200 day moving average is $16.99. CareDx, Inc. has a 52-week low of $10.96 and a 52-week high of $21.49.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.12). The business had revenue of $108.39 million during the quarter, compared to analysts’ expectations of $102.76 million. CareDx had a negative return on equity of 6.50% and a negative net margin of 5.65%.The business’s quarterly revenue was up 25.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 earnings per share. On average, equities research analysts anticipate that CareDx, Inc. will post -0.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO John Walter Hanna, Jr. sold 19,280 shares of the stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $21.16, for a total transaction of $407,964.80. Following the sale, the chief executive officer owned 597,405 shares in the company, valued at approximately $12,641,089.80. This represents a 3.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold 29,636 shares of company stock worth $625,949 over the last quarter. Insiders own 4.40% of the company’s stock.

About CareDx

CareDx, Inc (NASDAQ: CDNA) is a precision diagnostics company focused on the care of transplant patients. The firm develops and commercializes non‐invasive tests designed to detect organ transplant rejection and infection risk, helping physicians make informed management decisions throughout the post‐transplant journey.

The company’s core product portfolio includes AlloMap®, a gene expression profiling test for heart transplant recipients, and AlloSure®, a donor‐derived cell‐free DNA assay used primarily in kidney transplant monitoring.