Millennium Management LLC Has $13.30 Million Stock Position in CareDx, Inc (NASDAQ:CDNA)

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

Other large investors have also recently bought and sold shares of the company. Swiss National Bank raised its holdings in CareDx by 1.9% in the 4th quarter. Swiss National Bank now owns 98,600 shares of the company's stock valued at $2,111,000 after acquiring an additional 1,800 shares during the period. Barclays PLC raised its holdings in CareDx by 123.8% in the 3rd quarter. Barclays PLC now owns 98,505 shares of the company's stock valued at $3,075,000 after acquiring an additional 54,482 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in CareDx by 59.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 327,343 shares of the company's stock valued at $7,008,000 after acquiring an additional 122,356 shares during the period. KLP Kapitalforvaltning AS bought a new position in CareDx in the 4th quarter valued at about $208,000. Finally, Principal Financial Group Inc. raised its holdings in CareDx by 6.5% in the 4th quarter. Principal Financial Group Inc. now owns 18,984 shares of the company's stock valued at $406,000 after acquiring an additional 1,151 shares during the period.

Insider Buying and Selling

In related news, Director Peter Maag sold 13,281 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were 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 in the company, valued at approximately $5,457,481.89. This trade represents a 4.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christine Cournoyer sold 29,136 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $15.96, for a total transaction of $465,010.56. Following the completion of the sale, the director now owns 37,045 shares in the company, valued at $591,238.20. This represents a 44.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,382 shares of company stock worth $934,509. Corporate insiders own 4.90% of the company's stock.

CareDx Trading Down 2.8%

Shares of NASDAQ:CDNA traded down $0.50 on Thursday, reaching $17.07. 113,987 shares of the company's stock were exchanged, compared to its average volume of 894,648. The company has a market capitalization of $950.20 million, a price-to-earnings ratio of -6.33 and a beta of 2.27. The company has a fifty day moving average of $17.38 and a 200-day moving average of $20.62. CareDx, Inc has a twelve month low of $12.90 and a twelve month high of $34.84.

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

Analysts Set New Price Targets

CDNA has been the topic of several research analyst reports. Wall Street Zen cut shares of CareDx from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Stephens restated an "overweight" rating and set a $40.00 target price on shares of CareDx in a research report on Monday, May 5th. The Goldman Sachs Group decreased their target price on shares of CareDx from $34.00 to $26.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Finally, HC Wainwright restated a "neutral" rating and set a $25.00 target price on shares of CareDx in a research report on Monday, May 5th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.