Harbour Capital Advisors LLC Acquires New Holdings in CareDx, Inc (NASDAQ:CDNA)

by · The Markets Daily

Harbour Capital Advisors LLC acquired a new stake in CareDx, Inc (NASDAQ:CDNA – Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 11,930 shares of the company’s stock, valued at approximately $373,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CDNA. Los Angeles Capital Management LLC grew its holdings in shares of CareDx by 9.2% during the 1st quarter. Los Angeles Capital Management LLC now owns 259,007 shares of the company’s stock worth $2,743,000 after purchasing an additional 21,892 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of CareDx by 10,267.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 18,661 shares of the company’s stock worth $198,000 after acquiring an additional 18,481 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of CareDx by 87.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 228,198 shares of the company’s stock worth $2,417,000 after acquiring an additional 106,660 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of CareDx during the first quarter worth $238,000. Finally, Russell Investments Group Ltd. raised its position in shares of CareDx by 35.0% during the first quarter. Russell Investments Group Ltd. now owns 122,227 shares of the company’s stock worth $1,294,000 after acquiring an additional 31,667 shares during the last quarter.

Insider Buying and Selling at CareDx

In other news, insider Alexander L. Johnson sold 34,231 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $33.55, for a total transaction of $1,148,450.05. Following the completion of the transaction, the insider now directly owns 284,983 shares of the company’s stock, valued at $9,561,179.65. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Alexander L. Johnson sold 21,557 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $32.58, for a total transaction of $702,327.06. Following the completion of the transaction, the insider now directly owns 284,983 shares of the company’s stock, valued at $9,284,746.14. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alexander L. Johnson sold 34,231 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $33.55, for a total value of $1,148,450.05. Following the transaction, the insider now directly owns 284,983 shares of the company’s stock, valued at $9,561,179.65. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,340 shares of company stock valued at $3,025,415. Company insiders own 4.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group boosted their target price on CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday. HC Wainwright reaffirmed a “neutral” rating on shares of CareDx in a research note on Thursday, August 1st. StockNews.com raised CareDx from a “hold” rating to a “buy” rating in a research note on Thursday. Wells Fargo & Company started coverage on CareDx in a research note on Tuesday, August 27th. They set an “underweight” rating and a $28.00 price objective for the company. Finally, BTIG Research raised CareDx from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Monday, August 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, CareDx has an average rating of “Moderate Buy” and an average price target of $30.60.

Get Our Latest Report on CareDx

CareDx Trading Down 2.0 %

NASDAQ:CDNA opened at $23.98 on Friday. CareDx, Inc has a 1 year low of $4.80 and a 1 year high of $34.84. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -7.01 and a beta of 1.77. The stock has a 50-day moving average price of $29.62 and a two-hundred day moving average price of $19.64.

CareDx (NASDAQ:CDNA – Get Free Report) last posted its earnings results on Wednesday, July 31st. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.37. CareDx had a negative return on equity of 53.65% and a negative net margin of 53.73%. The firm had revenue of $92.27 million during the quarter, compared to analysts’ expectations of $67.20 million. Sell-side analysts forecast that CareDx, Inc will post -0.84 earnings per share for the current year.

CareDx Company Profile

(Free Report)

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.

See Also

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