Connor Clark & Lunn Investment Management Ltd. Makes New $7.64 Million Investment in CareDx, Inc. $CDNA

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of CareDx, Inc. (NASDAQ:CDNA) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 268,207 shares of the company’s stock, valued at approximately $7,644,000.

A number of other large investors have also recently modified their holdings of the business. Globeflex Capital L P bought a new position in shares of CareDx in the 2nd quarter valued at $3,399,000. Quantbot Technologies LP bought a new stake in shares of CareDx during the 2nd quarter worth $310,000. Ieq Capital LLC bought a new stake in shares of CareDx during the 2nd quarter worth $418,000. Allworth Financial LP acquired a new stake in CareDx in the second quarter valued at about $72,000. Finally, Virtus Advisers LLC acquired a new stake in CareDx in the second quarter valued at about $1,198,000.

Insider Transactions at CareDx

In other news, Director George Bickerstaff sold 20,000 shares of CareDx stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $46.28, for a total transaction of $925,600.00. Following the sale, the director directly owned 134,061 shares of the company’s stock, valued at approximately $6,204,343.08. This trade represents a 12.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO John Walter Hanna, Jr. sold 39,900 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $29.24, for a total value of $1,166,676.00. Following the sale, the chief executive officer owned 661,959 shares in the company, valued at approximately $19,355,681.16. This trade represents a 5.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 114,936 shares of company stock valued at $3,770,348 over the last three months. Company insiders own 2.40% of the company’s stock.

CareDx Stock Performance

Shares of CDNA opened at $50.96 on Thursday. CareDx, Inc. has a 52 week low of $12.37 and a 52 week high of $51.13. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of 24.62 and a beta of 2.39. The stock has a fifty day moving average of $37.41 and a 200-day moving average of $26.04.

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

Analyst Ratings Changes

CDNA has been the topic of a number of recent analyst reports. Wall Street Zen upgraded CareDx from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 3rd. William Blair raised shares of CareDx to a “hold” rating in a report on Thursday, July 16th. Zacks Research upgraded shares of CareDx from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. BTIG Research lifted their price target on shares of CareDx from $45.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of CareDx from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $47.75.

CareDx Company 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.