AQR Capital Management LLC Boosts Stake in CareDx, Inc (NASDAQ:CDNA)

AQR Capital Management LLC increased its holdings in CareDx, Inc (NASDAQ:CDNA - Free Report) by 65.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 547,270 shares of the company's stock after purchasing an additional 217,476 shares during the quarter. AQR Capital Management LLC owned 1.02% of CareDx worth $11,717,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CDNA. Barclays PLC increased its stake in shares of CareDx by 123.8% during the third quarter. Barclays PLC now owns 98,505 shares of the company's stock valued at $3,075,000 after buying an additional 54,482 shares during the period. Franklin Resources Inc. boosted its holdings in CareDx by 34.4% in the third quarter. Franklin Resources Inc. now owns 59,474 shares of the company's stock worth $1,862,000 after acquiring an additional 15,238 shares in the last quarter. Principal Financial Group Inc. bought a new stake in CareDx during the 3rd quarter valued at about $557,000. ARS Investment Partners LLC raised its holdings in CareDx by 6.3% in the 4th quarter. ARS Investment Partners LLC now owns 101,968 shares of the company's stock worth $2,183,000 after acquiring an additional 6,083 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of CareDx by 31.0% during the fourth quarter. SG Americas Securities LLC now owns 24,087 shares of the company's stock valued at $516,000 after buying an additional 5,706 shares during the last quarter.

CareDx Stock Performance

Shares of CareDx stock traded up $0.03 during trading hours on Friday, hitting $15.42. The company's stock had a trading volume of 1,675,008 shares, compared to its average volume of 880,975. The company has a market cap of $858.60 million, a PE ratio of -5.71 and a beta of 2.27. The business has a 50 day moving average price of $17.97 and a two-hundred day moving average price of $21.21. CareDx, Inc has a 12-month low of $9.99 and a 12-month high of $34.84.

CareDx (NASDAQ:CDNA - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.03. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The firm had revenue of $84.69 million for the quarter, compared to the consensus estimate of $84.56 million. During the same quarter in the previous year, the company posted ($0.03) EPS. The company's revenue for the quarter was up 17.6% compared to the same quarter last year. As a group, research analysts anticipate that CareDx, Inc will post -0.9 earnings per share for the current year.

Insider Activity at CareDx

In other CareDx news, Director Peter Maag sold 13,281 shares of CareDx stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $17.23, for a total transaction of $228,831.63. Following the completion of the sale, the director now directly owns 316,743 shares of the company's stock, valued at $5,457,481.89. The trade was a 4.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Christine Cournoyer sold 16,700 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $14.13, for a total value of $235,971.00. Following the transaction, the director now owns 37,045 shares in the company, valued at approximately $523,445.85. This represents a 31.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,246 shares of company stock worth $469,498 in the last quarter. 4.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. StockNews.com cut shares of CareDx from a "buy" rating to a "hold" rating in a report on Monday. The Goldman Sachs Group cut their price objective on CareDx from $34.00 to $26.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Stephens reissued an "overweight" rating and issued a $40.00 target price on shares of CareDx in a research report on Monday. HC Wainwright reaffirmed a "neutral" rating and set a $25.00 price target on shares of CareDx in a research report on Monday. Finally, Wells Fargo & Company upgraded shares of CareDx from an "underweight" rating to an "equal weight" rating and cut their target price for the company from $28.00 to $24.00 in a research report on Wednesday, January 15th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.33.

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.