Millennium Management LLC Purchases 170,568 Shares of CareDx, Inc (NASDAQ:CDNA)

Millennium Management LLC boosted its stake in shares of CareDx, Inc (NASDAQ:CDNA - Free Report) by 37.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 621,307 shares of the company's stock after purchasing an additional 170,568 shares during the quarter. Millennium Management LLC owned 1.16% of CareDx worth $13,302,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CDNA. Sterling Capital Management LLC raised its stake in shares of CareDx by 771.2% in the 4th quarter. Sterling Capital Management LLC now owns 1,272 shares of the company's stock valued at $27,000 after buying an additional 1,126 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of 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 buying an additional 3,322 shares in the last quarter. Plato Investment Management Ltd raised its stake in shares of CareDx by 34.1% in the 4th quarter. Plato Investment Management Ltd now owns 5,390 shares of the company's stock valued at $116,000 after buying an additional 1,370 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its stake in shares of CareDx by 41.5% in the 4th quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 9,343 shares of the company's stock valued at $200,000 after buying an additional 2,742 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of CareDx in the 4th quarter valued at $208,000.

Analyst Upgrades and Downgrades

CDNA has been the subject of a number of recent analyst reports. The Goldman Sachs Group dropped their target price on shares of CareDx from $34.00 to $26.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. HC Wainwright reiterated a "neutral" rating and set a $25.00 target price on shares of CareDx in a research report on Monday, May 5th. Stephens reiterated an "overweight" rating and set a $40.00 target price on shares of CareDx in a research report on Monday, May 5th. Finally, Wall Street Zen cut shares of CareDx from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Three investment 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 company has a consensus rating of "Moderate Buy" and an average price target of $30.33.

CareDx Price Performance

CDNA stock traded up $0.68 during midday trading on Tuesday, reaching $17.63. 1,378,386 shares of the company were exchanged, compared to its average volume of 896,883. The business has a 50-day moving average price of $17.44 and a two-hundred day moving average price of $20.66. CareDx, Inc has a one year low of $12.90 and a one year high of $34.84. The firm has a market capitalization of $981.66 million, a price-to-earnings ratio of -6.53 and a beta of 2.27.

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

Insider Activity

In other CareDx news, Director Christine Cournoyer sold 29,136 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $15.96, for a total transaction of $465,010.56. Following the completion of the transaction, the director now owns 37,045 shares of the company's stock, valued at approximately $591,238.20. The trade was a 44.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter Maag sold 13,281 shares of the business's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $17.23, for a total value of $228,831.63. Following the transaction, the director now directly owns 316,743 shares of the company's stock, valued at approximately $5,457,481.89. The trade was a 4.02% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,382 shares of company stock valued at $934,509. 4.90% of the stock is owned by company insiders.

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.