Fred Alger Management LLC Sells 304,736 Shares of CareDx, Inc. $CDNA

Fred Alger Management LLC trimmed its position in CareDx, Inc. (NASDAQ:CDNA) by 24.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 929,023 shares of the company’s stock after selling 304,736 shares during the period. Fred Alger Management LLC owned approximately 1.81% of CareDx worth $13,508,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Allworth Financial LP purchased a new stake in shares of CareDx during the 2nd quarter valued at $40,000. State of Alaska Department of Revenue purchased a new position in CareDx during the 3rd quarter worth $43,000. Quantbot Technologies LP acquired a new position in CareDx during the 3rd quarter valued at about $89,000. RiverPark Advisors LLC acquired a new position in CareDx during the 2nd quarter valued at about $149,000. Finally, Tower Research Capital LLC TRC raised its stake in CareDx by 120.6% in the second quarter. Tower Research Capital LLC TRC now owns 7,608 shares of the company’s stock valued at $149,000 after buying an additional 4,160 shares during the last quarter.

Analyst Upgrades and Downgrades

CDNA has been the topic of a number of research analyst reports. Wall Street Zen lowered CareDx from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Wells Fargo & Company increased their price objective on shares of CareDx from $18.00 to $21.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 25th. Craig Hallum downgraded shares of CareDx from a “buy” rating to a “hold” rating and set a $26.00 target price on the stock. in a research report on Tuesday, January 6th. Weiss Ratings lowered shares of CareDx from a “hold (c-)” rating to a “sell (d)” rating in a research note on Friday, February 27th. Finally, Zacks Research raised shares of CareDx from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 18th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $27.33.

Insider Buying and Selling

In other CareDx news, CEO John Walter Hanna, Jr. sold 19,280 shares of CareDx stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $21.16, for a total transaction of $407,964.80. Following the completion of the sale, the chief executive officer directly owned 597,405 shares in the company, valued at approximately $12,641,089.80. The trade was a 3.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have sold 29,636 shares of company stock worth $625,949. Insiders own 4.40% of the company’s stock.

CareDx Stock Performance

Shares of CDNA stock opened at $17.32 on Tuesday. CareDx, Inc. has a fifty-two week low of $10.96 and a fifty-two week high of $21.49. The firm has a market capitalization of $887.13 million, a PE ratio of -43.30 and a beta of 2.52. The stock’s 50-day simple moving average is $19.28 and its 200-day simple moving average is $17.29.

CareDx (NASDAQ:CDNA) last released its earnings results on Tuesday, February 24th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.12). The firm had revenue of $108.39 million for the quarter, compared to analyst estimates of $102.76 million. CareDx had a negative return on equity of 6.50% and a negative net margin of 5.65%.The company’s revenue for the quarter was up 25.2% compared to the same quarter last year. During the same period last year, the firm earned $0.18 EPS. Sell-side analysts forecast that CareDx, Inc. will post -0.9 earnings per share for the current year.

CareDx Company 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.