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

Man Group plc acquired a new stake in CareDx, Inc. (NASDAQ:CDNA) in the second quarter, Holdings Channel.com reports. The fund acquired 126,962 shares of the company’s stock, valued at approximately $3,618,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CDNA. Globeflex Capital L P raised its position in CareDx by 49.4% in the first quarter. Globeflex Capital L P now owns 119,252 shares of the company’s stock valued at $2,070,000 after purchasing an additional 39,457 shares during the period. Janus Henderson Group PLC lifted its stake in shares of CareDx by 10.1% in the 1st quarter. Janus Henderson Group PLC now owns 316,519 shares of the company’s stock valued at $5,495,000 after purchasing an additional 28,958 shares during the last quarter. Virtus Advisers LLC purchased a new position in shares of CareDx during the 2nd quarter worth $1,198,000. Fidelis Capital Partners LLC purchased a new position in shares of CareDx during the 4th quarter worth $420,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of CareDx during the 2nd quarter worth about $725,000.

CareDx Stock Performance

NASDAQ:CDNA 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 has a market cap of $2.59 billion, a P/E ratio of 24.21 and a beta of 2.38. The stock has a 50-day simple moving average of $38.91 and a 200-day simple moving average of $26.69.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data 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 business had revenue of $131.95 million during the quarter, compared to the consensus estimate of $114.05 million. During the same quarter in the previous year, the firm earned ($0.16) EPS. The company’s revenue was up 52.2% compared to the same quarter last year. On average, equities research analysts predict that CareDx, Inc. will post 0.47 EPS for the current year.

Insider Buying and Selling at CareDx

In other news, CEO John Walter Hanna, Jr. sold 39,900 shares of the stock in a transaction dated 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 sale, the chief executive officer owned 661,959 shares in the company, valued at approximately $19,355,681.16. This represents a 5.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christine Cournoyer sold 16,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $46.94, for a total value of $751,040.00. Following the sale, the director directly owned 42,943 shares of the company’s stock, valued at $2,015,744.42. The trade was a 27.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 114,936 shares of company stock worth $3,770,348 in the last quarter. 2.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

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.