ARS Investment Partners LLC Has $2.18 Million Holdings in CareDx, Inc (NASDAQ:CDNA)

ARS Investment Partners LLC raised its stake in CareDx, Inc (NASDAQ:CDNA) by 6.3% in the 4th quarter, HoldingsChannel reports. The fund owned 101,968 shares of the company’s stock after buying an additional 6,083 shares during the quarter. ARS Investment Partners LLC’s holdings in CareDx were worth $2,183,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Millennium Management LLC boosted its stake in shares of CareDx by 1,085.4% in the 2nd 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 during the last quarter. Fred Alger Management LLC lifted its stake in CareDx by 30.8% in the third quarter. Fred Alger Management LLC now owns 1,503,521 shares of the company’s stock valued at $46,947,000 after buying an additional 353,919 shares in the last quarter. Geode Capital Management LLC lifted its stake in CareDx by 2.7% in the third quarter. Geode Capital Management LLC now owns 1,227,724 shares of the company’s stock valued at $38,343,000 after buying an additional 32,141 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in 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 buying an additional 306,222 shares in the last quarter. Finally, FMR LLC lifted its stake in CareDx by 802.4% in the third quarter. FMR LLC now owns 625,550 shares of the company’s stock valued at $19,533,000 after buying an additional 556,230 shares in the last quarter.

Insider Activity

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 transaction of $125,000.00. Following the completion of the sale, the director now owns 330,024 shares of the company’s stock, valued at $8,250,600. This represents a 1.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 4.90% of the stock is currently owned by company insiders.

CareDx Trading Down 2.8 %

NASDAQ:CDNA opened at $21.44 on Tuesday. CareDx, Inc has a one year low of $7.42 and a one year high of $34.84. The firm’s fifty day moving average price is $22.86 and its two-hundred day moving average price is $24.64.

CareDx (NASDAQ:CDNA) last announced its earnings results on Monday, November 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.11. The company 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% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.43) earnings per share. On average, sell-side analysts forecast that CareDx, Inc will post -0.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CDNA. HC Wainwright reaffirmed a “neutral” rating and issued a $26.00 price target on shares of CareDx in a research note on Tuesday, January 14th. Wells Fargo & Company upgraded shares of CareDx from an “underweight” rating to an “equal weight” rating and lowered their price objective for the company from $28.00 to $24.00 in a report on Wednesday, January 15th. BTIG Research lowered their price objective on shares of CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Finally, The Goldman Sachs Group boosted their target price on shares of CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, CareDx has an average rating of “Moderate Buy” and an average target price of $28.33.

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.