Hsbc Holdings PLC increased its position in shares of CareDx, Inc. (NASDAQ:CDNA – Free Report) by 130.9% during the 1st quarter, Holdings Channel reports. The fund owned 38,387 shares of the company’s stock after buying an additional 21,764 shares during the quarter. Hsbc Holdings PLC’s holdings in CareDx were worth $644,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. increased its stake in CareDx by 2.0% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,475,126 shares of the company’s stock valued at $25,608,000 after purchasing an additional 28,510 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its position in shares of CareDx by 58.5% during the first quarter. Y Intercept Hong Kong Ltd now owns 41,294 shares of the company’s stock worth $717,000 after purchasing an additional 15,246 shares in the last quarter. 1492 Capital Management LLC bought a new position in shares of CareDx during the first quarter worth $218,000. SG Americas Securities LLC increased its position in shares of CareDx by 8.3% in the 1st quarter. SG Americas Securities LLC now owns 29,949 shares of the company’s stock valued at $520,000 after buying an additional 2,292 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of CareDx by 5.2% in the 4th quarter. Invesco Ltd. now owns 115,503 shares of the company’s stock valued at $2,176,000 after buying an additional 5,758 shares in the last quarter.
Wall Street Analysts Forecast Growth
CDNA has been the topic of several research analyst reports. Craig Hallum reaffirmed a “hold” rating and set a $35.00 price objective on shares of CareDx in a research note on Thursday, July 16th. Weiss Ratings downgraded CareDx from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, July 15th. Wall Street Zen raised CareDx from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 3rd. BTIG Research lifted their price objective on CareDx from $28.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Finally, William Blair upgraded CareDx to a “hold” rating in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, CareDx has an average rating of “Hold” and a consensus target price of $33.67.
Insider Transactions at CareDx
In other 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 transaction of $1,166,676.00. Following the completion of the transaction, the chief executive officer directly owned 661,959 shares of the company’s stock, valued at $19,355,681.16. This represents a 5.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hannah Valantine sold 12,103 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $23.11, for a total value of $279,700.33. Following the transaction, the director owned 36,686 shares of the company’s stock, valued at approximately $847,813.46. The trade was a 24.81% 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. Over the last 90 days, insiders sold 78,936 shares of company stock worth $2,093,708. Corporate insiders own 2.40% of the company’s stock.
CareDx Stock Up 7.6%
Shares of NASDAQ:CDNA opened at $38.10 on Friday. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of -238.12 and a beta of 2.43. CareDx, Inc. has a 12 month low of $11.26 and a 12 month high of $40.47. The company’s fifty day simple moving average is $28.15 and its 200 day simple moving average is $22.46.
CareDx (NASDAQ:CDNA – Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.15. The firm had revenue of $131.95 million during the quarter, compared to analyst estimates of $113.83 million. CareDx had a negative net margin of 2.01% and a negative return on equity of 2.65%. The company’s revenue for the quarter was up 52.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.16) EPS. Research analysts expect that CareDx, Inc. will post 0.22 earnings per share for the current fiscal year.
CareDx 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.
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