Legal & General Group Plc Boosts Holdings in CareDx, Inc. $CDNA

Legal & General Group Plc grew its position in shares of CareDx, Inc. (NASDAQ:CDNA) by 44.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 230,482 shares of the company’s stock after purchasing an additional 70,480 shares during the period. Legal & General Group Plc’s holdings in CareDx were worth $4,342,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its stake in shares of CareDx by 4.8% during the second quarter. The Manufacturers Life Insurance Company now owns 27,742 shares of the company’s stock valued at $542,000 after purchasing an additional 1,280 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of CareDx by 9.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 19,091 shares of the company’s stock valued at $365,000 after purchasing an additional 1,675 shares during the period. FNY Investment Advisers LLC purchased a new stake in shares of CareDx during the third quarter valued at approximately $31,000. CWM LLC raised its stake in shares of CareDx by 119.1% during the fourth quarter. CWM LLC now owns 7,407 shares of the company’s stock valued at $140,000 after purchasing an additional 4,026 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in shares of CareDx by 120.6% during the second quarter. Tower Research Capital LLC TRC now owns 7,608 shares of the company’s stock valued at $149,000 after purchasing an additional 4,160 shares during the period.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CDNA shares. Weiss Ratings reissued a “sell (d)” rating on shares of CareDx in a research report on Wednesday, May 27th. Wall Street Zen raised shares of CareDx from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 3rd. Wells Fargo & Company raised their price target on shares of CareDx from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 25th. Finally, BTIG Research raised their price target on shares of CareDx from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $25.00.

CareDx Trading Down 1.3%

CDNA stock opened at $21.95 on Tuesday. CareDx, Inc. has a twelve month low of $10.96 and a twelve month high of $24.02. The company has a market capitalization of $1.13 billion, a P/E ratio of -137.19 and a beta of 2.49. The firm has a 50 day simple moving average of $20.32 and a 200-day simple moving average of $19.43.

CareDx (NASDAQ:CDNA) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.23. CareDx had a negative net margin of 2.01% and a negative return on equity of 2.65%. The business had revenue of $117.70 million during the quarter, compared to the consensus estimate of $102.03 million. During the same quarter last year, the company earned $0.09 earnings per share. The business’s quarterly revenue was up 39.3% compared to the same quarter last year. On average, research analysts predict that CareDx, Inc. will post 0.22 EPS for the current year.

Insider Buying and Selling

In other CareDx news, CEO John Walter Hanna, Jr. sold 10,282 shares of CareDx stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $21.12, for a total value of $217,155.84. Following the completion of the transaction, the chief executive officer owned 676,475 shares of the company’s stock, valued at $14,287,152. The trade was a 1.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.40% of the stock is currently owned by corporate insiders.

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.