Wellington Management Group LLP Decreases Position in CareDx, Inc (NASDAQ:CDNA)

Wellington Management Group LLP lowered its stake in shares of CareDx, Inc (NASDAQ:CDNA - Free Report) by 14.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 165,362 shares of the company's stock after selling 28,360 shares during the quarter. Wellington Management Group LLP owned about 0.30% of CareDx worth $3,540,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Thompson Davis & CO. Inc. grew its position in CareDx by 6.3% during the 4th quarter. Thompson Davis & CO. Inc. now owns 16,050 shares of the company's stock worth $344,000 after purchasing an additional 950 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of CareDx by 6.9% during the fourth quarter. Hsbc Holdings PLC now owns 17,131 shares of the company's stock worth $365,000 after buying an additional 1,109 shares during the period. Legal & General Group Plc grew its holdings in shares of CareDx by 1.3% during the fourth quarter. Legal & General Group Plc now owns 89,751 shares of the company's stock valued at $1,922,000 after buying an additional 1,118 shares during the last quarter. Sterling Capital Management LLC increased its position 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 acquiring an additional 1,126 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of 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.

CareDx Stock Up 4.1%

Shares of CDNA stock traded up $0.76 on Friday, hitting $19.52. The company had a trading volume of 904,107 shares, compared to its average volume of 909,462. CareDx, Inc has a twelve month low of $13.18 and a twelve month high of $34.84. The firm has a market cap of $1.09 billion, a P/E ratio of -7.23 and a beta of 2.18. The company has a 50-day moving average price of $17.32 and a 200-day moving average price of $20.39.

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

Analysts Set New Price Targets

A number of analysts have commented on the company. Wall Street Zen cut CareDx from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. The Goldman Sachs Group reduced their price objective on CareDx from $34.00 to $26.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Stephens reiterated an "overweight" rating and issued a $40.00 target price on shares of CareDx in a research report on Monday, May 5th. Finally, HC Wainwright reiterated a "neutral" rating and issued a $25.00 price target on shares of CareDx in a report on Monday, May 5th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $30.33.

Insider Activity at CareDx

In other CareDx news, Director William A. Hagstrom sold 30,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $17.45, for a total transaction of $523,500.00. Following the transaction, the director now owns 53,979 shares in the company, valued at approximately $941,933.55. This represents a 35.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Christine Cournoyer sold 16,700 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were 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 trade represents a 31.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,382 shares of company stock worth $1,458,009. 4.40% 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.