CareDx, Inc (NASDAQ:CDNA) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lifted its position in CareDx, Inc (NASDAQ:CDNA) by 78.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 696,893 shares of the company’s stock after purchasing an additional 306,222 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in CareDx were worth $21,760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Millennium Management LLC increased its holdings in 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 buying an additional 1,960,308 shares in the last quarter. Bamco Inc. NY acquired a new stake in shares of CareDx during the 1st quarter valued at about $13,025,000. Fred Alger Management LLC increased its stake in shares of CareDx by 517.9% in the 2nd quarter. Fred Alger Management LLC now owns 1,149,602 shares of the company’s stock valued at $17,853,000 after purchasing an additional 963,554 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in CareDx by 868.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 204,987 shares of the company’s stock worth $6,401,000 after purchasing an additional 183,823 shares during the period. Finally, Driehaus Capital Management LLC purchased a new position in CareDx during the second quarter worth approximately $2,852,000.

Wall Street Analyst Weigh In

CDNA has been the subject of several research analyst reports. The Goldman Sachs Group upped their target price on CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Craig Hallum increased their price objective on shares of CareDx from $22.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, August 1st. StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. HC Wainwright reiterated a “neutral” rating on shares of CareDx in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company assumed coverage on CareDx in a research report on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 target price on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, CareDx presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.60.

CareDx Trading Up 1.4 %

CareDx stock opened at $22.37 on Thursday. The stock has a market cap of $1.20 billion, a P/E ratio of -8.29 and a beta of 1.80. The company has a 50-day moving average price of $26.43 and a 200 day moving average price of $21.97. CareDx, Inc has a 12-month low of $7.42 and a 12-month high of $34.84.

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

CareDx Company Profile

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.