ARK Investment Management Holds 10.9% Stake in CareDx
Ticker: CDNA · Form: SC 13G/A · Filed: Jan 29, 2024 · CIK: 1217234
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, stake-disclosure
TL;DR
**ARK still owns 10.9% of CareDx, signaling continued institutional confidence.**
AI Summary
ARK Investment Management LLC, led by Cathie Wood, filed an amended SC 13G/A on January 29, 2024, disclosing its ownership in CareDx, Inc. As of December 31, 2023, ARK beneficially owned 7,194,722 shares of CareDx's common stock, representing 10.9% of the company. This filing indicates a significant, continued stake by a prominent institutional investor, which could signal confidence in CareDx's long-term prospects for current and potential shareholders.
Why It Matters
This filing shows that a major institutional investor, ARK Investment Management, maintains a substantial position in CareDx, which can influence investor sentiment and potentially the stock's stability.
Risk Assessment
Risk Level: low — The filing indicates a stable, significant institutional ownership, which generally reduces volatility risk.
Analyst Insight
Investors should note ARK's continued significant stake in CareDx, as it suggests a long-term conviction from a prominent institutional investor, which could be a positive signal for the stock's stability, but further research into CareDx's fundamentals is always recommended.
Key Numbers
- 7,194,722 — Shares Beneficially Owned (This is the total number of CareDx shares ARK Investment Management LLC reported owning as of December 31, 2023.)
- 10.9% — Percentage of Class (This represents the percentage of CareDx's common stock owned by ARK Investment Management LLC, indicating a significant stake.)
- December 31, 2023 — Date of Event (This is the specific date on which ARK Investment Management LLC's ownership percentage was calculated for this filing.)
Key Players & Entities
- ARK Investment Management LLC (company) — the reporting person and institutional investor
- CareDx, Inc. (company) — the subject company whose shares are being reported
- Delaware (company) — state of incorporation for ARK Investment Management LLC
- Cathie Wood (person) — founder and CEO of ARK Investment Management LLC (implied leader)
Forward-Looking Statements
- ARK Investment Management will likely maintain a significant stake in CareDx, Inc. throughout 2024, given their current substantial holding. (ARK Investment Management LLC) — medium confidence, target: December 31, 2024
FAQ
What is the purpose of an SC 13G/A filing?
An SC 13G/A is an amendment to a Schedule 13G, filed by institutional investors who own more than 5% of a company's stock, to update their ownership stake. In this case, ARK Investment Management LLC filed it to update its holdings in CareDx, Inc. as of December 31, 2023.
Who is the reporting person in this SC 13G/A filing?
The reporting person is ARK Investment Management LLC, a company incorporated in Delaware, United States, with its business address at 200 Central Avenue, St. Petersburg, FL 33701.
How many shares of CareDx, Inc. did ARK Investment Management LLC beneficially own as of the reporting date?
As of December 31, 2023, ARK Investment Management LLC beneficially owned 7,194,722 shares of CareDx, Inc. common stock, as stated in item 5 of the filing.
What percentage of CareDx, Inc.'s common stock does ARK Investment Management LLC own?
ARK Investment Management LLC owns 10.9% of CareDx, Inc.'s common stock, as indicated in item 9 of the filing.
When was the event date that triggered this filing?
The date of the event which requires the filing of this statement was December 31, 2023, as specified on the cover page of the SC 13G/A.
Filing Stats: 938 words · 4 min read · ~3 pages · Grade level 7.7 · Accepted 2024-01-29 16:00:59
Filing Documents
- tm244117d13_sc13ga.htm (SC 13G/A) — 51KB
- 0001104659-24-007683.txt ( ) — 53KB
(a) Name
Item 1(a) Name of issuer: CareDX, Inc.
(b) Address of issuer's principal executive offices
Item 1(b) Address of issuer's principal executive offices: 8000 Marina Blvd, 4th Floor Brisbane, CA 94005
(a) Name
Item 2(a) Name of person filing: ARK Investment Management LLC
(b) Address
Item 2(b) Address or principal business office or, if none, residence: ARK Investment Management LLC 200 Central Avenue St. Petersburg, FL 33701
(c) Citizenship
Item 2(c) Citizenship: Delaware, United States
(d) Title
Item 2(d) Title of class of securities: Common stock
(e) CUSIP
Item 2(e) CUSIP No.: 14167L103
If this
Item 3. If this check whether the person filing is a: (a) Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o); (b) Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); (c) Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c); (d) Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8); (e) An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E); (f) An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F); (g) A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G); (h) A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J); (k) Group, in accordance with § 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution: ____ CUSIP No. 14167L103 13G Page 4 of 5 Pages
Ownership
Item 4. Ownership (a) Amount beneficially owned: 7,194,722 (b) Percent of class: 13.30% (c) Number of shares as to which such person has: (i) Sole power to vote or to direct the vote: 7,194,722 (ii) Shared power to vote or to direct the vote: 0 (iii) Sole power to dispose or to direct the disposition of: 7,194,722 (iv) Shared power to dispose or to direct the disposition of: 0
Ownership
Item 5. Ownership of 5 Percent or Less of a Class. Not applicable.
Ownership of More than 5 Percent on Behalf of Another Person
Item 6. Ownership of More than 5 Percent on Behalf of Another Person. To the knowledge of the Reporting Person, no other person has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, a number of the shares which represents more than five percent of the number of outstanding class of the shares. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person. Not applicable.
Identification and Classification of Members of the Group
Item 8. Identification and Classification of Members of the Group. Not applicable.
Notice of Dissolution of Group
Item 9. Notice of Dissolution of Group. Not applicable. CUSIP No. 14167L103 13G Page 5 of 5 Pages
Certifications
Item 10. Certifications. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. The reporting persons agree that this statement is filed on behalf of each of them. Dated: January 29, 2024 ARK Investment Management LLC By: /s/ Kellen Carter Name: Kellen Carter Title: Chief Compliance Officer