UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Takes Position in CareDx, Inc (NASDAQ:CDNA)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of CareDx, Inc (NASDAQ:CDNA) during the 3rd quarter, Holdings Channel reports. The fund purchased 53,514 shares of the company’s stock, valued at approximately $1,671,000.

Several other institutional investors and hedge funds also recently bought and sold shares of CDNA. Millennium Management LLC raised its stake in shares of CareDx by 1,085.4% in the second quarter. Millennium Management LLC now owns 2,140,909 shares of the company’s stock valued at $33,248,000 after acquiring an additional 1,960,308 shares during the period. Fred Alger Management LLC raised its position in CareDx by 517.9% in the 2nd quarter. Fred Alger Management LLC now owns 1,149,602 shares of the company’s stock worth $17,853,000 after purchasing an additional 963,554 shares during the period. FMR LLC raised its position in CareDx by 802.4% in the 3rd quarter. FMR LLC now owns 625,550 shares of the company’s stock worth $19,533,000 after purchasing an additional 556,230 shares during the period. 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 worth $21,760,000 after purchasing an additional 306,222 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of CareDx by 868.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 204,987 shares of the company’s stock valued at $6,401,000 after buying an additional 183,823 shares during the last quarter.

CareDx Stock Performance

NASDAQ CDNA opened at $22.87 on Tuesday. The firm has a market capitalization of $1.23 billion, a P/E ratio of -8.47 and a beta of 1.84. The stock has a 50-day simple moving average of $24.48 and a two-hundred day simple moving average of $23.24. CareDx, Inc has a fifty-two week low of $7.42 and a fifty-two week high of $34.84.

CareDx (NASDAQ:CDNA) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.11. The company had revenue of $82.88 million for the quarter, compared to analyst estimates of $80.04 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The firm’s revenue was up 23.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.43) earnings per share. As a group, analysts forecast that CareDx, Inc will post -0.7 earnings per share for the current year.

Insider Activity at CareDx

In other CareDx news, Director Peter Maag sold 5,000 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $25.00, for a total transaction of $125,000.00. Following the transaction, the director now directly owns 330,024 shares of the company’s stock, valued at $8,250,600. This trade represents a 1.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CDNA has been the topic of several recent analyst reports. Wells Fargo & Company started coverage on shares of CareDx in a research note on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 price target on the stock. BTIG Research lowered their price target on CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. StockNews.com upgraded CareDx from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. The Goldman Sachs Group increased their price target on CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of CareDx in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $29.60.

About CareDx

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.