Janus Henderson Group PLC Has $5.50 Million Stock Position in CareDx, Inc. $CDNA

Key Points

• Janus Henderson increased its CareDx position by 10.1% in the first quarter, bringing its holdings to 316,519 shares valued at approximately $5.5 million. Several other institutional investors also added to their stakes.
• CareDx reported stronger-than-expected quarterly results, with EPS of $0.37 versus a $0.23 consensus estimate and revenue of $131.95 million, up 52.2% year over year.
• Analyst sentiment remains mixed: CareDx has an average “Hold” rating and a $47.75 consensus price target, while insiders sold 114,936 shares worth approximately $3.77 million over the past 90 days.

Janus Henderson Group PLC boosted its position in CareDx, Inc. (NASDAQ:CDNA - Free Report) by 10.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 316,519 shares of the company's stock after acquiring an additional 28,958 shares during the period. Janus Henderson Group PLC owned 0.61% of CareDx worth $5,495,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Amundi bought a new position in shares of CareDx in the 1st quarter worth $206,000. Quantinno Capital Management LP bought a new stake in CareDx during the 1st quarter valued at $298,000. Renaissance Technologies LLC raised its holdings in CareDx by 7.2% during the first quarter. Renaissance Technologies LLC now owns 1,184,398 shares of the company's stock worth $20,561,000 after buying an additional 79,200 shares during the last quarter. Globeflex Capital L P raised its holdings in CareDx by 49.4% during the first quarter. Globeflex Capital L P now owns 119,252 shares of the company's stock worth $2,070,000 after buying an additional 39,457 shares during the last quarter. Finally, State of Wyoming lifted its stake in shares of CareDx by 185.2% in the first quarter. State of Wyoming now owns 23,537 shares of the company's stock valued at $409,000 after buying an additional 15,284 shares in the last quarter.

Insider Activity at CareDx

In other CareDx news, Director Hannah Valantine sold 12,103 shares of the business's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $23.11, for a total value of $279,700.33. Following the transaction, the director directly owned 36,686 shares in the company, valued at $847,813.46. The trade was a 24.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christine Cournoyer sold 16,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $46.94, for a total transaction of $751,040.00. Following the transaction, the director directly owned 42,943 shares of the company's stock, valued at $2,015,744.42. This represents a 27.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 worth $3,770,348 in the last ninety days. Corporate insiders own 2.40% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. William Blair raised shares of CareDx to a "hold" rating in a research report on Thursday, July 16th. Craig Hallum raised CareDx from a "hold" rating to a "buy" rating and set a $64.00 price objective for the company in a research note on Monday. BTIG Research lifted their target price on CareDx from $45.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday. HC Wainwright reiterated a "neutral" rating and set a $46.00 price target on shares of CareDx in a report on Friday, July 31st. Finally, Wall Street Zen raised CareDx from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 3rd. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, CareDx currently has an average rating of "Hold" and a consensus price target of $47.75.

CareDx Trading Down 1.5%

Shares of CareDx stock opened at $44.81 on Friday. The business's fifty day simple moving average is $30.54 and its 200 day simple moving average is $23.36. CareDx, Inc. has a 12 month low of $11.26 and a 12 month high of $49.76. The firm has a market capitalization of $2.32 billion, a P/E ratio of 21.65 and a beta of 2.39.

CareDx (NASDAQ:CDNA - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.14. The firm had revenue of $131.95 million during the quarter, compared to the consensus estimate of $114.05 million. CareDx had a return on equity of 2.87% and a net margin of 24.23%.The business's revenue for the quarter was up 52.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.16) EPS. Analysts predict that CareDx, Inc. will post 0.22 EPS for the current fiscal year.

CareDx 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.

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