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

Wellington Management Group LLP reduced its stake in shares of CareDx, Inc (NASDAQ:CDNA) by 4.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 193,722 shares of the company’s stock after selling 8,590 shares during the period. Wellington Management Group LLP’s holdings in CareDx were worth $6,049,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CDNA. Quarry LP acquired a new stake in CareDx during the 3rd quarter worth about $27,000. Harvest Fund Management Co. Ltd purchased a new position in shares of CareDx in the third quarter worth about $52,000. KBC Group NV acquired a new stake in shares of CareDx during the third quarter worth about $99,000. nVerses Capital LLC boosted its position in CareDx by 175.0% in the third quarter. nVerses Capital LLC now owns 3,300 shares of the company’s stock valued at $103,000 after buying an additional 2,100 shares during the last quarter. Finally, Plato Investment Management Ltd acquired a new position in CareDx in the 2nd quarter worth approximately $62,000.

CareDx Stock Up 0.0 %

NASDAQ:CDNA opened at $22.87 on Tuesday. CareDx, Inc has a 52 week low of $7.42 and a 52 week high of $34.84. The stock’s 50-day moving average price is $24.48 and its 200-day moving average price is $23.24. The stock has a market capitalization of $1.23 billion, a PE ratio of -8.47 and a beta of 1.84.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.11. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The company had revenue of $82.88 million for the quarter, compared to analyst estimates of $80.04 million. During the same period last year, the company earned ($0.43) earnings per share. CareDx’s quarterly revenue was up 23.4% compared to the same quarter last year. Sell-side analysts expect that CareDx, Inc will post -0.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CDNA. The Goldman Sachs Group increased their price objective on shares of CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Wells Fargo & Company assumed coverage on shares of CareDx in a report on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 price target on the stock. BTIG Research reduced their price objective on CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. StockNews.com upgraded CareDx from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Finally, HC Wainwright reiterated a “neutral” rating on shares of CareDx in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $29.60.

Insiders Place Their Bets

In other CareDx news, Director Peter Maag sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $25.00, for a total transaction of $125,000.00. Following the completion of the sale, the director now directly owns 330,024 shares in the company, valued at approximately $8,250,600. The trade was a 1.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.90% of the stock is currently owned by company insiders.

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.