Janus Henderson Group PLC Purchases 28,958 Shares of CareDx, Inc. $CDNA

Janus Henderson Group PLC increased its position in CareDx, Inc. (NASDAQ:CDNA) by 10.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 316,519 shares of the company’s stock after acquiring an additional 28,958 shares during the quarter. Janus Henderson Group PLC’s holdings in CareDx were worth $5,495,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quarry LP bought a new position in CareDx during the fourth quarter worth about $25,000. Meeder Asset Management Inc. bought a new stake in shares of CareDx in the fourth quarter valued at approximately $79,000. Quantbot Technologies LP purchased a new stake in shares of CareDx during the 3rd quarter valued at approximately $89,000. CWM LLC lifted its stake in shares of 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 in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in CareDx by 120.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,608 shares of the company’s stock worth $149,000 after buying an additional 4,160 shares during the period.

Insiders Place Their Bets

In other CareDx news, CEO John Walter Hanna, Jr. sold 39,900 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $29.24, for a total value of $1,166,676.00. Following the transaction, the chief executive officer directly owned 661,959 shares in the company, valued at $19,355,681.16. This represents a 5.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christine Cournoyer sold 16,000 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $46.94, for a total value of $751,040.00. Following the completion of the sale, the director directly owned 42,943 shares in the company, valued at approximately $2,015,744.42. The trade was a 27.14% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 114,936 shares of company stock valued at $3,770,348 in the last ninety days. Corporate insiders own 2.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CDNA shares. 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. William Blair raised CareDx to a “hold” rating in a report on Thursday, July 16th. Weiss Ratings upgraded CareDx from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, July 30th. Wall Street Zen upgraded CareDx from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. Finally, BTIG Research increased their price objective on CareDx from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, CareDx has a consensus rating of “Hold” and a consensus price target of $47.75.

CareDx Price Performance

NASDAQ CDNA opened at $44.81 on Friday. The company’s 50 day simple moving average is $30.54 and its two-hundred day simple moving average is $23.36. CareDx, Inc. has a 1 year low of $11.26 and a 1 year high of $49.76. The stock has a market capitalization of $2.32 billion, a PE ratio of 21.65 and a beta of 2.39.

CareDx (NASDAQ:CDNA) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.14. CareDx had a net margin of 24.23% and a return on equity of 2.87%. The firm had revenue of $131.95 million for the quarter, compared to analysts’ expectations of $114.05 million. During the same quarter in the prior year, the firm posted ($0.16) earnings per share. The business’s quarterly revenue was up 52.2% on a year-over-year basis. On average, research analysts anticipate that CareDx, Inc. will post 0.22 EPS for the current year.

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.