Millennium Management LLC Grows Holdings in CareDx Inc (CDNA)

Millennium Management LLC raised its stake in CareDx Inc (NASDAQ:CDNA) by 55.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 163,023 shares of the company’s stock after purchasing an additional 58,280 shares during the period. Millennium Management LLC owned 0.42% of CareDx worth $4,098,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CDNA. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of CareDx in the fourth quarter valued at about $45,000. First Interstate Bank acquired a new position in shares of CareDx in the fourth quarter valued at about $80,000. Great West Life Assurance Co. Can acquired a new position in shares of CareDx in the fourth quarter valued at about $81,000. Meeder Asset Management Inc. grew its stake in shares of CareDx by 31.7% in the fourth quarter. Meeder Asset Management Inc. now owns 5,692 shares of the company’s stock valued at $144,000 after acquiring an additional 1,371 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of CareDx by 19.5% in the fourth quarter. Legal & General Group Plc now owns 6,129 shares of the company’s stock valued at $154,000 after acquiring an additional 998 shares in the last quarter. Hedge funds and other institutional investors own 86.86% of the company’s stock.

CDNA has been the topic of several research reports. HC Wainwright restated a “hold” rating and issued a $27.00 price target on shares of CareDx in a research note on Friday, December 21st. Zacks Investment Research upgraded shares of CareDx from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Thursday, January 3rd. BidaskClub downgraded shares of CareDx from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, January 15th. Jefferies Financial Group initiated coverage on shares of CareDx in a research note on Friday, February 15th. They issued a “buy” rating and a $35.00 price target on the stock. Finally, Raymond James upped their price target on shares of CareDx from $38.00 to $46.00 and gave the company a “strong-buy” rating in a research note on Friday, March 22nd. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $36.67.

Shares of CareDx stock opened at $28.38 on Wednesday. CareDx Inc has a 12-month low of $8.86 and a 12-month high of $39.38.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings data on Wednesday, March 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). The firm had revenue of $23.51 million for the quarter, compared to analyst estimates of $23.34 million. CareDx had a negative return on equity of 63.64% and a negative net margin of 61.06%. As a group, equities analysts forecast that CareDx Inc will post -0.4 earnings per share for the current year.

In other CareDx news, insider Sasha King sold 10,000 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $29.81, for a total transaction of $298,100.00. Following the sale, the insider now directly owns 75,137 shares in the company, valued at $2,239,833.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael Brian Bell sold 2,200 shares of the stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $26.30, for a total transaction of $57,860.00. Following the sale, the chief financial officer now owns 77,490 shares in the company, valued at $2,037,987. The disclosure for this sale can be found here. Insiders have sold 195,822 shares of company stock worth $6,113,764 over the last quarter. Corporate insiders own 3.40% of the company’s stock.

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CareDx Company Profile

CareDx, Inc, a transplant diagnostics company, together with its subsidiaries, focuses on the discovery, development, and commercialization of diagnostic solutions for transplant patients worldwide. The company develops and provides a diagnostic surveillance testing solution for heart and kidney transplant recipients.

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Institutional Ownership by Quarter for CareDx (NASDAQ:CDNA)

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