13,403 Shares in CareDx, Inc. $CDNA Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company bought a new stake in shares of CareDx, Inc. (NASDAQ:CDNA) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,403 shares of the company’s stock, valued at approximately $382,000.

A number of other large investors have also recently added to or reduced their stakes in CDNA. Price T Rowe Associates Inc. MD raised its position in CareDx by 1.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 39,218 shares of the company’s stock valued at $739,000 after buying an additional 711 shares during the period. Quarry LP acquired a new stake in CareDx during the 4th quarter worth about $25,000. Allspring Global Investments Holdings LLC boosted its position in CareDx by 11.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 21,242 shares of the company’s stock worth $380,000 after acquiring an additional 2,151 shares during the period. SG Americas Securities LLC grew its stake in CareDx by 8.3% during the 1st quarter. SG Americas Securities LLC now owns 29,949 shares of the company’s stock valued at $520,000 after acquiring an additional 2,292 shares in the last quarter. Finally, Allworth Financial LP purchased a new position in CareDx during the 2nd quarter valued at about $72,000.

Insider Buying and Selling at CareDx

In related news, Director George Bickerstaff, III sold 20,000 shares of CareDx stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $46.28, for a total value of $925,600.00. Following the completion of the sale, the director owned 134,061 shares of the company’s stock, valued at approximately $6,204,343.08. The trade was a 12.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christine Cournoyer sold 16,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $46.94, for a total transaction of $751,040.00. Following the completion of the sale, the director owned 42,943 shares of the company’s stock, valued at $2,015,744.42. This represents a 27.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 110,101 shares of company stock valued at $3,654,308. 2.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CDNA has been the subject of a number of research analyst reports. William Blair raised shares of CareDx to a “hold” rating in a research report on Thursday, July 16th. HC Wainwright reiterated a “neutral” rating and issued a $46.00 price objective on shares of CareDx in a research note on Friday, July 31st. Zacks Research upgraded shares of CareDx from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. Canaccord Genuity Group assumed coverage on shares of CareDx in a research note on Wednesday, September 2nd. They set a “buy” rating and a $65.00 target price for the company. Finally, Craig Hallum raised shares of CareDx from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.20.

CareDx Price Performance

Shares of CareDx stock opened at $50.88 on Tuesday. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 24.58 and a beta of 2.43. The stock has a 50-day simple moving average of $41.15 and a 200-day simple moving average of $27.76. CareDx, Inc. has a 52-week low of $13.12 and a 52-week high of $53.67.

CareDx (NASDAQ:CDNA) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.14. The firm had revenue of $131.95 million for the quarter, compared to the consensus estimate of $114.05 million. CareDx had a return on equity of 2.87% and a net margin of 24.23%.The firm’s revenue was up 52.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.16) earnings per share. As a group, equities research analysts predict that CareDx, Inc. will post 0.47 earnings per share for the current year.

CareDx Profile

CareDx, Inc (NASDAQ: CDNA) is a precision diagnostics company focused on the care of transplant patients. The firm develops and commercializes non?invasive tests designed to detect organ transplant rejection and infection risk, helping physicians make informed management decisions throughout the post?transplant journey.

The company’s core product portfolio includes AlloMap®, a gene expression profiling test for heart transplant recipients, and AlloSure®, a donor?derived cell?free DNA assay used primarily in kidney transplant monitoring.