Amundi Acquires New Stake in CareDx, Inc. $CDNA

Amundi bought a new position in CareDx, Inc. (NASDAQ:CDNA) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 11,891 shares of the company’s stock, valued at approximately $206,000.

Other large investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its position in shares of CareDx by 18.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,110,014 shares of the company’s stock worth $19,703,000 after purchasing an additional 170,504 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of CareDx by 11.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 133,966 shares of the company’s stock worth $2,378,000 after buying an additional 13,619 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of CareDx by 41.2% during the second quarter. JPMorgan Chase & Co. now owns 68,602 shares of the company’s stock worth $1,340,000 after buying an additional 20,028 shares in the last quarter. First Trust Advisors LP bought a new position in shares of CareDx in the 2nd quarter valued at $1,822,000. Finally, Nebula Research & Development LLC bought a new position in shares of CareDx in the 2nd quarter valued at $281,000.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Zacks Research upgraded shares of CareDx from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. BTIG Research lifted their price objective on CareDx from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Wall Street Zen raised CareDx from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. Weiss Ratings upgraded CareDx from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, July 30th. Finally, William Blair upgraded CareDx to a “hold” rating in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $47.75.

CareDx Stock Down 4.3%

Shares of CareDx stock opened at $45.32 on Friday. The company’s fifty day simple moving average is $33.45 and its two-hundred day simple moving average is $24.44. The firm has a market cap of $2.34 billion, a PE ratio of 21.89 and a beta of 2.39. CareDx, Inc. has a 12-month low of $11.27 and a 12-month high of $49.76.

CareDx (NASDAQ:CDNA) last posted its earnings results on Thursday, July 30th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.14. CareDx had a return on equity of 2.87% and a net margin of 24.23%.The company had revenue of $131.95 million for the quarter, compared to analysts’ expectations of $114.05 million. During the same period last year, the firm earned ($0.16) earnings per share. CareDx’s quarterly revenue was up 52.2% on a year-over-year basis. As a group, sell-side analysts expect that CareDx, Inc. will post 0.47 earnings per share for the current fiscal year.

Insider Buying and Selling at CareDx

In other news, Director George Bickerstaff sold 20,000 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $46.28, for a total value of $925,600.00. Following the transaction, the director owned 134,061 shares in the company, valued at $6,204,343.08. This represents a 12.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Hannah Valantine sold 12,103 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $23.11, for a total transaction of $279,700.33. Following the completion of the transaction, the director directly owned 36,686 shares in the company, valued at approximately $847,813.46. The trade was a 24.81% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 114,936 shares of company stock worth $3,770,348 over the last 90 days. 2.40% of the stock is owned by company insiders.

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.