ARK Investment Management LLC Lowers Position in CareDx, Inc (NASDAQ:CDNA)

ARK Investment Management LLC decreased its position in CareDx, Inc (NASDAQ:CDNA) by 19.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,409,100 shares of the company’s stock after selling 579,497 shares during the period. ARK Investment Management LLC’s holdings in CareDx were worth $51,579,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Virtue Capital Management LLC purchased a new stake in shares of CareDx in the third quarter valued at about $755,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in CareDx during the third quarter worth about $1,671,000. Geode Capital Management LLC boosted its holdings in CareDx by 2.7% during the third quarter. Geode Capital Management LLC now owns 1,227,724 shares of the company’s stock worth $38,343,000 after buying an additional 32,141 shares in the last quarter. Hanseatic Management Services Inc. purchased a new stake in CareDx during the third quarter worth about $781,000. Finally, Barclays PLC boosted its holdings in CareDx by 123.8% during the third quarter. Barclays PLC now owns 98,505 shares of the company’s stock worth $3,075,000 after buying an additional 54,482 shares in the last quarter.

CareDx Price Performance

NASDAQ:CDNA opened at $20.89 on Wednesday. The firm has a 50 day simple moving average of $22.64 and a 200-day simple moving average of $25.32. The firm has a market cap of $1.12 billion, a PE ratio of -7.74 and a beta of 1.87. CareDx, Inc has a 1-year low of $7.42 and a 1-year high of $34.84.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CDNA shares. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a research report on Wednesday. BTIG Research cut their target price on shares of CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Wells Fargo & Company upgraded shares of CareDx from an “underweight” rating to an “equal weight” rating and cut their target price for the stock from $28.00 to $24.00 in a research report on Wednesday, January 15th. Finally, HC Wainwright restated a “neutral” rating and set a $26.00 target price on shares of CareDx in a research report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $28.33.

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.