Fred Alger Management LLC Grows Stock Position in CareDx, Inc (NASDAQ:CDNA)

Fred Alger Management LLC increased its stake in CareDx, Inc (NASDAQ:CDNA - Free Report) by 7.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,613,992 shares of the company's stock after acquiring an additional 110,471 shares during the period. Fred Alger Management LLC owned about 3.01% of CareDx worth $34,556,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CDNA. Barclays PLC grew its holdings in CareDx by 123.8% in 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 during the last quarter. Franklin Resources Inc. boosted its holdings in shares of CareDx by 34.4% during the third quarter. Franklin Resources Inc. now owns 59,474 shares of the company's stock worth $1,862,000 after purchasing an additional 15,238 shares during the period. ARS Investment Partners LLC grew its stake in shares of CareDx by 6.3% in the fourth quarter. ARS Investment Partners LLC now owns 101,968 shares of the company's stock worth $2,183,000 after purchasing an additional 6,083 shares during the last quarter. SG Americas Securities LLC increased its holdings in CareDx by 31.0% during the 4th quarter. SG Americas Securities LLC now owns 24,087 shares of the company's stock valued at $516,000 after purchasing an additional 5,706 shares during the period. Finally, Exchange Traded Concepts LLC raised its position in CareDx by 6.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 29,107 shares of the company's stock valued at $623,000 after purchasing an additional 1,816 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have recently commented on CDNA. Wells Fargo & Company raised shares of CareDx from an "underweight" rating to an "equal weight" rating and dropped their target price for the stock from $28.00 to $24.00 in a research report on Wednesday, January 15th. Stephens reissued an "overweight" rating and issued a $40.00 price target on shares of CareDx in a research note on Monday, May 5th. The Goldman Sachs Group lowered their price objective on shares of CareDx from $34.00 to $26.00 and set a "buy" rating for the company in a report on Thursday, April 17th. StockNews.com downgraded CareDx from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Finally, HC Wainwright restated a "neutral" rating and issued a $25.00 target price on shares of CareDx in a research note on Monday, May 5th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $30.33.

Insider Buying and Selling

In other news, Director Christine Cournoyer sold 16,700 shares of the business'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 transaction, the director now owns 37,045 shares in the company, valued at $523,445.85. The trade was a 31.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Peter Maag sold 13,281 shares of the stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $17.23, for a total value of $228,831.63. Following the sale, the director now directly owns 316,743 shares in the company, valued at $5,457,481.89. This trade represents a 4.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,246 shares of company stock worth $469,498 in the last three months. Insiders own 4.90% of the company's stock.

CareDx Trading Up 0.2 %

CareDx stock traded up $0.03 during mid-day trading on Friday, hitting $15.42. The company had a trading volume of 1,675,008 shares, compared to its average volume of 870,319. CareDx, Inc has a 12 month low of $12.90 and a 12 month high of $34.84. The company has a market capitalization of $858.60 million, a PE ratio of -5.71 and a beta of 2.27. The stock's 50 day moving average price is $17.87 and its two-hundred day moving average price is $21.14.

CareDx (NASDAQ:CDNA - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.03. The company had revenue of $84.69 million for 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 revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.03) EPS. Equities research analysts anticipate that CareDx, Inc will post -0.9 EPS for the current 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.