Driehaus Capital Management LLC Has $14.74 Million Holdings in CareDx, Inc (NASDAQ:CDNA)

Driehaus Capital Management LLC lessened its stake in shares of CareDx, Inc (NASDAQ:CDNA) by 24.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 688,395 shares of the company’s stock after selling 216,986 shares during the period. Driehaus Capital Management LLC’s holdings in CareDx were worth $14,739,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Sterling Capital Management LLC lifted its holdings in shares of CareDx by 771.2% during the fourth quarter. Sterling Capital Management LLC now owns 1,272 shares of the company’s stock valued at $27,000 after acquiring an additional 1,126 shares during the period. Tower Research Capital LLC TRC lifted its holdings in CareDx by 553.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company’s stock valued at $84,000 after purchasing an additional 3,322 shares during the last quarter. Plato Investment Management Ltd boosted its position in CareDx by 34.1% in the fourth quarter. Plato Investment Management Ltd now owns 5,390 shares of the company’s stock valued at $116,000 after buying an additional 1,370 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in CareDx by 41.5% during the fourth quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 9,343 shares of the company’s stock worth $200,000 after buying an additional 2,742 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of CareDx during the fourth quarter worth approximately $208,000.

Insider Buying and Selling

In related news, Director Peter Maag sold 13,281 shares of the firm’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $17.23, for a total transaction of $228,831.63. Following the sale, the director now owns 316,743 shares of the company’s stock, valued at approximately $5,457,481.89. This trade represents a 4.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Christine Cournoyer sold 16,700 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $14.13, for a total value of $235,971.00. Following the completion of the sale, the director now owns 37,045 shares of the company’s stock, valued at $523,445.85. This trade represents a 31.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,246 shares of company stock valued at $469,498 in the last 90 days. 4.90% of the stock is owned by insiders.

CareDx Stock Performance

Shares of CDNA stock opened at $15.42 on Friday. The firm’s 50 day moving average price is $17.97 and its two-hundred day moving average price is $21.21. CareDx, Inc has a 52-week low of $9.99 and a 52-week high of $34.84. The stock has a market cap of $858.49 million, a PE ratio of -5.71 and a beta of 2.27.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.03. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The business had revenue of $84.69 million for the quarter, compared to analyst estimates of $84.56 million. During the same period last year, the company earned ($0.03) EPS. The firm’s revenue was up 17.6% on a year-over-year basis. As a group, sell-side analysts predict that CareDx, Inc will post -0.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CDNA. HC Wainwright restated a “neutral” rating and set a $25.00 price target on shares of CareDx in a research report on Monday. The Goldman Sachs Group decreased their target price on CareDx from $34.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. StockNews.com lowered CareDx from a “buy” rating to a “hold” rating in a research note on Monday. Wells Fargo & Company upgraded shares of CareDx from an “underweight” rating to an “equal weight” rating and reduced their price target for the stock from $28.00 to $24.00 in a research report on Wednesday, January 15th. Finally, Stephens restated an “overweight” rating and issued a $40.00 price objective on shares of CareDx in a research report on Monday. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, CareDx has a consensus rating of “Moderate Buy” and an average target price of $30.33.

About CareDx

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.