Man Group plc Buys 45,054 Shares of CareDx, Inc (NASDAQ:CDNA)

Man Group plc increased its holdings in CareDx, Inc (NASDAQ:CDNA - Free Report) by 186.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,185 shares of the company's stock after purchasing an additional 45,054 shares during the period. Man Group plc owned 0.13% of CareDx worth $1,481,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in CDNA. Swiss National Bank raised its holdings in shares of CareDx by 1.9% during the 4th quarter. Swiss National Bank now owns 98,600 shares of the company's stock worth $2,111,000 after acquiring an additional 1,800 shares in the last quarter. Barclays PLC raised its holdings in shares of CareDx by 123.8% during the 3rd quarter. Barclays PLC now owns 98,505 shares of the company's stock worth $3,075,000 after acquiring an additional 54,482 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of CareDx by 59.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 327,343 shares of the company's stock worth $7,008,000 after acquiring an additional 122,356 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of CareDx during the 4th quarter worth approximately $208,000. Finally, Principal Financial Group Inc. raised its holdings in shares of CareDx by 6.5% during the 4th quarter. Principal Financial Group Inc. now owns 18,984 shares of the company's stock worth $406,000 after acquiring an additional 1,151 shares in the last quarter.

Insider Buying and Selling at CareDx

In other CareDx news, Director Peter Maag sold 13,281 shares of the company's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $17.23, for a total value of $228,831.63. Following the completion of the sale, the director now directly owns 316,743 shares in the company, valued at approximately $5,457,481.89. This represents a 4.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 value of $235,971.00. Following the completion of the sale, the director now owns 37,045 shares of the company's stock, valued at $523,445.85. This represents a 31.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,382 shares of company stock valued at $934,509 in the last quarter. 4.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. HC Wainwright reaffirmed a "neutral" rating and set a $25.00 price objective on shares of CareDx in a report on Monday, May 5th. Wall Street Zen downgraded CareDx from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. The Goldman Sachs Group cut their target price on CareDx from $34.00 to $26.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Finally, Stephens reissued an "overweight" rating and set a $40.00 target price on shares of CareDx in a research report on Monday, May 5th. Three research 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.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $30.33.

CareDx Stock Performance

CareDx stock traded down $0.52 during mid-day trading on Thursday, hitting $17.05. The company's stock had a trading volume of 113,987 shares, compared to its average volume of 894,648. The company has a 50 day moving average of $17.38 and a 200-day moving average of $20.62. The stock has a market cap of $949.08 million, a PE ratio of -6.33 and a beta of 2.27. CareDx, Inc has a one year low of $12.90 and a one year high of $34.84.

CareDx (NASDAQ:CDNA - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.06 by $0.03. The company had revenue of $84.69 million for the quarter, compared to the consensus estimate of $84.56 million. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. CareDx's quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.03) EPS. On average, equities research analysts forecast that CareDx, Inc will post -0.9 EPS for the current fiscal year.

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.