Connor Clark & Lunn Investment Management Ltd. Boosts Holdings in CareDx, Inc (NASDAQ:CDNA)

Connor Clark & Lunn Investment Management Ltd. boosted its position in CareDx, Inc (NASDAQ:CDNA) by 25.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 875,197 shares of the company’s stock after buying an additional 178,304 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 1.63% of CareDx worth $18,738,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CDNA. Quarry LP acquired a new stake in CareDx in the third quarter valued at $27,000. Harvest Fund Management Co. Ltd acquired a new stake in CareDx in the third quarter valued at $52,000. KBC Group NV acquired a new stake in CareDx in the third quarter valued at $99,000. Plato Investment Management Ltd lifted its holdings 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 acquiring an additional 1,370 shares during the period. Finally, Quest Partners LLC lifted its holdings in CareDx by 37.8% in the third quarter. Quest Partners LLC now owns 5,611 shares of the company’s stock valued at $175,000 after acquiring an additional 1,540 shares during the period.

CareDx Stock Down 6.8 %

NASDAQ:CDNA opened at $17.64 on Friday. The company has a market capitalization of $977.71 million, a PE ratio of -6.53 and a beta of 1.95. The stock has a fifty day simple moving average of $22.31 and a 200-day simple moving average of $24.49. CareDx, Inc has a 52-week low of $7.42 and a 52-week high of $34.84.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $1.46. The firm had revenue of $86.58 million during the quarter, compared to analysts’ expectations of $84.56 million. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. As a group, equities analysts anticipate that CareDx, Inc will post -0.9 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. StockNews.com raised CareDx from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. Stephens reissued an “overweight” rating and issued a $40.00 target price on shares of CareDx in a report on Thursday, February 27th. Wells Fargo & Company raised CareDx from an “underweight” rating to an “equal weight” rating and cut their price target for the stock from $28.00 to $24.00 in a research note on Wednesday, January 15th. Finally, HC Wainwright cut their price target on CareDx from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $31.83.

CareDx Profile

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.