Man Group plc Acquires Shares of 126,962 CareDx, Inc. $CDNA

Man Group plc bought a new position in CareDx, Inc. (NASDAQ:CDNA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 126,962 shares of the company’s stock, valued at approximately $3,618,000. Man Group plc owned approximately 0.25% of CareDx at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of CareDx in the 4th quarter valued at approximately $25,000. Allworth Financial LP bought a new position in shares of CareDx during the 2nd quarter valued at approximately $72,000. Meeder Asset Management Inc. bought a new position in shares of CareDx during the 4th quarter valued at approximately $79,000. Quantbot Technologies LP purchased a new stake in CareDx during the 3rd quarter valued at $89,000. Finally, CWM LLC raised its holdings in CareDx by 119.1% during the 4th quarter. CWM LLC now owns 7,407 shares of the company’s stock valued at $140,000 after buying an additional 4,026 shares during the period.

CareDx Price Performance

Shares of CDNA stock opened at $50.11 on Tuesday. CareDx, Inc. has a 1-year low of $12.37 and a 1-year high of $53.67. The stock’s 50-day moving average is $38.91 and its 200 day moving average is $26.69. The company has a market cap of $2.59 billion, a P/E ratio of 24.21 and a beta of 2.38.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CDNA shares. Craig Hallum upgraded shares of CareDx from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a report on Monday, August 3rd. William Blair upgraded shares of CareDx to a “hold” rating in a report on Thursday, July 16th. Weiss Ratings raised shares of CareDx from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. HC Wainwright reissued a “neutral” rating and issued a $46.00 price objective on shares of CareDx in a research note on Friday, July 31st. Finally, BTIG Research boosted their target price on CareDx from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.75.

Insider Buying and Selling at CareDx

In related news, CEO John Walter Hanna, Jr. sold 39,900 shares of the firm’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $29.24, for a total transaction of $1,166,676.00. Following the completion of the transaction, the chief executive officer owned 661,959 shares of the company’s stock, valued at $19,355,681.16. This trade represents a 5.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director George Bickerstaff sold 20,000 shares of CareDx stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $46.28, for a total value of $925,600.00. Following the transaction, the director owned 134,061 shares of the company’s stock, valued at $6,204,343.08. The trade was a 12.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 114,936 shares of company stock valued at $3,770,348. 2.40% of the stock is owned by corporate insiders.

About CareDx

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.