Amundi Acquires New Position in CareDx, Inc. $CDNA

Amundi bought a new position in CareDx, Inc. (NASDAQ:CDNA) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 11,891 shares of the company’s stock, valued at approximately $206,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in 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 acquiring an additional 170,504 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of CareDx by 11.3% in 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 purchasing an additional 13,619 shares during the period. JPMorgan Chase & Co. increased its stake in shares of CareDx by 41.2% in the second quarter. JPMorgan Chase & Co. now owns 68,602 shares of the company’s stock worth $1,340,000 after purchasing an additional 20,028 shares in the last quarter. First Trust Advisors LP purchased a new stake in shares of CareDx in the second quarter worth $1,822,000. Finally, Nebula Research & Development LLC bought a new stake in shares of CareDx during the 2nd quarter valued at $281,000.

CareDx Stock Performance

Shares of CDNA opened at $45.32 on Friday. The company has a market capitalization of $2.34 billion, a P/E ratio of 21.89 and a beta of 2.39. The business’s 50-day moving average is $33.45 and its two-hundred day moving average is $24.44. CareDx, Inc. has a fifty-two week low of $11.27 and a fifty-two week high of $49.76.

CareDx (NASDAQ:CDNA) last issued its earnings results on Thursday, July 30th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.14. The firm had revenue of $131.95 million for the quarter, compared to the consensus estimate of $114.05 million. CareDx had a return on equity of 2.87% and a net margin of 24.23%.The company’s revenue was up 52.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.16) earnings per share. Analysts forecast that CareDx, Inc. will post 0.47 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on CDNA. Weiss Ratings upgraded shares of CareDx from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, July 30th. William Blair upgraded CareDx to a “hold” rating in a report on Thursday, July 16th. Craig Hallum upgraded CareDx from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Monday, August 3rd. HC Wainwright restated a “neutral” rating and issued a $46.00 price target on shares of CareDx in a research report on Friday, July 31st. Finally, Wall Street Zen raised shares of CareDx from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $47.75.

Insider Buying and Selling at CareDx

In other CareDx news, Director George Bickerstaff sold 20,000 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $46.28, for a total value of $925,600.00. Following the completion of the sale, the director directly owned 134,061 shares of the company’s stock, valued at $6,204,343.08. This trade represents a 12.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Hannah Valantine sold 12,103 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $23.11, for a total transaction of $279,700.33. Following 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 three months. 2.40% of the stock is owned by corporate 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.