Legal & General Group Plc Makes New Investment in CareDx, Inc. $CDNA

Legal & General Group Plc acquired a new stake in shares of CareDx, Inc. (NASDAQ:CDNA) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 211,967 shares of the company’s stock, valued at approximately $6,041,000. Legal & General Group Plc owned about 0.41% of CareDx as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Quarry LP purchased a new stake in shares of CareDx in the fourth quarter worth about $25,000. Allworth Financial LP acquired a new position in CareDx in the second quarter valued at approximately $72,000. Meeder Asset Management Inc. purchased a new stake in CareDx in the 4th quarter worth approximately $79,000. Quantbot Technologies LP purchased a new stake in CareDx in the 3rd quarter worth approximately $89,000. Finally, CWM LLC grew its stake in shares of CareDx by 119.1% during the 4th quarter. CWM LLC now owns 7,407 shares of the company’s stock worth $140,000 after purchasing an additional 4,026 shares during the period.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Weiss Ratings raised shares of CareDx from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday, August 13th. HC Wainwright reissued a “neutral” rating and set a $46.00 price target on shares of CareDx in a report on Friday, July 31st. Craig Hallum raised shares of CareDx from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Monday, August 3rd. BTIG Research upped their price objective on shares of CareDx from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Canaccord Genuity Group initiated coverage on shares of CareDx in a research report on Wednesday. They issued a “buy” rating and a $65.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.20.

Insider Activity at CareDx

In other CareDx news, Director Hannah Valantine sold 12,103 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $23.11, for a total transaction of $279,700.33. Following the completion of the transaction, the director owned 36,686 shares of the company’s stock, valued at $847,813.46. This represents a 24.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Walter Hanna, Jr. sold 39,900 shares of the firm’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $29.24, for a total value of $1,166,676.00. Following the completion of the transaction, the chief executive officer owned 661,959 shares in the company, valued at $19,355,681.16. The trade was a 5.68% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 110,101 shares of company stock valued at $3,654,308. 2.40% of the stock is owned by corporate insiders.

CareDx Stock Performance

NASDAQ:CDNA opened at $49.60 on Thursday. The company has a fifty day moving average of $39.84 and a two-hundred day moving average of $27.11. The stock has a market capitalization of $2.57 billion, a PE ratio of 23.96 and a beta of 2.43. CareDx, Inc. has a fifty-two week low of $12.37 and a fifty-two week high of $53.67.

CareDx (NASDAQ:CDNA) last announced its earnings results on Thursday, July 30th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.14. The business had revenue of $131.95 million for the quarter, compared to analyst estimates of $114.05 million. CareDx had a net margin of 24.23% and a return on equity of 2.87%. The company’s revenue for the quarter was up 52.2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.16) earnings per share. Research analysts forecast that CareDx, Inc. will post 0.47 earnings per share for the current year.

CareDx Profile

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.