Driehaus Capital Management LLC Sells 216,986 Shares of CareDx, Inc (NASDAQ:CDNA)

Driehaus Capital Management LLC lowered its stake in shares of CareDx, Inc (NASDAQ:CDNA - Free Report) by 24.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 688,395 shares of the company's stock after selling 216,986 shares during the quarter. Driehaus Capital Management LLC owned about 1.28% of CareDx worth $14,739,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Sterling Capital Management LLC increased its stake in CareDx by 771.2% during the fourth quarter. Sterling Capital Management LLC now owns 1,272 shares of the company's stock worth $27,000 after acquiring an additional 1,126 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in CareDx by 553.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company's stock valued at $84,000 after purchasing an additional 3,322 shares in the last quarter. Plato Investment Management Ltd boosted its position in shares of CareDx by 34.1% in the fourth quarter. Plato Investment Management Ltd now owns 5,390 shares of the company's stock worth $116,000 after buying an additional 1,370 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in CareDx by 41.5% in the 4th quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 9,343 shares of the company's stock worth $200,000 after acquiring an additional 2,742 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of CareDx during the fourth quarter worth $208,000.

CareDx Price Performance

CDNA traded up $0.08 during mid-day trading on Wednesday, hitting $16.21. The stock had a trading volume of 622,293 shares, compared to its average volume of 872,806. The stock's fifty day simple moving average is $17.79 and its 200-day simple moving average is $21.09. The firm has a market capitalization of $902.59 million, a price-to-earnings ratio of -6.00 and a beta of 2.27. CareDx, Inc has a 1-year low of $12.90 and a 1-year high of $34.84.

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

Analyst Ratings Changes

A number of research firms have commented on CDNA. Wells Fargo & Company upgraded shares of CareDx from an "underweight" rating to an "equal weight" rating and reduced their price objective for the company from $28.00 to $24.00 in a research note on Wednesday, January 15th. Stephens reissued an "overweight" rating and issued a $40.00 price objective on shares of CareDx in a report on Monday, May 5th. The Goldman Sachs Group cut their price objective on shares of CareDx from $34.00 to $26.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. StockNews.com lowered shares of CareDx from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Finally, HC Wainwright reaffirmed a "neutral" rating and set a $25.00 price target on shares of CareDx in a research note on Monday, May 5th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, CareDx currently has a consensus rating of "Moderate Buy" and an average price target of $30.33.

Insider Activity at CareDx

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

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.