Hsbc Holdings PLC Boosts Stock Holdings in CareDx, Inc. $CDNA

Hsbc Holdings PLC raised its position in shares of CareDx, Inc. (NASDAQ:CDNA) by 130.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,387 shares of the company’s stock after acquiring an additional 21,764 shares during the quarter. Hsbc Holdings PLC owned approximately 0.07% of CareDx worth $644,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Aberdeen Group plc acquired a new position in CareDx in the fourth quarter worth $6,506,000. Fidelis Capital Partners LLC acquired a new stake in shares of CareDx in the fourth quarter valued at $420,000. Legal & General Group Plc raised its holdings in shares of CareDx by 44.0% in the fourth quarter. Legal & General Group Plc now owns 230,482 shares of the company’s stock valued at $4,342,000 after buying an additional 70,480 shares during the last quarter. First Eagle Investment Management LLC raised its holdings in shares of CareDx by 15.1% in the fourth quarter. First Eagle Investment Management LLC now owns 546,722 shares of the company’s stock valued at $10,300,000 after buying an additional 71,576 shares during the last quarter. Finally, Zweig DiMenna Associates LLC lifted its position in CareDx by 18.1% during the 4th quarter. Zweig DiMenna Associates LLC now owns 679,000 shares of the company’s stock worth $12,792,000 after buying an additional 104,000 shares in the last quarter.

Insiders Place Their Bets

In other CareDx news, Director Hannah Valantine sold 12,103 shares of CareDx stock in a transaction on Monday, June 15th. The shares were sold at an average price of $23.11, for a total transaction of $279,700.33. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Walter Hanna, Jr. sold 39,900 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $29.24, for a total value of $1,166,676.00. Following the completion of the transaction, the chief executive officer directly owned 661,959 shares in the company, valued at approximately $19,355,681.16. This trade represents a 5.68% 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 have sold a total of 78,936 shares of company stock valued at $2,093,708 in the last ninety days. Company insiders own 2.40% of the company’s stock.

CareDx Trading Up 7.6%

Shares of NASDAQ CDNA opened at $38.10 on Friday. The firm has a market capitalization of $1.97 billion, a PE ratio of -238.12 and a beta of 2.43. CareDx, Inc. has a 1 year low of $11.26 and a 1 year high of $40.47. The firm’s 50-day moving average is $28.15 and its 200-day moving average is $22.46.

CareDx (NASDAQ:CDNA) last posted its quarterly 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. CareDx had a negative net margin of 2.01% and a negative return on equity of 2.65%. The business had revenue of $131.95 million during the quarter, compared to the consensus estimate of $113.83 million. During the same period in the previous year, the firm posted ($0.16) earnings per share. CareDx’s revenue for the quarter was up 52.2% compared to the same quarter last year. As a group, equities research analysts anticipate that CareDx, Inc. will post 0.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Wall Street Zen raised shares of CareDx from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 3rd. William Blair upgraded shares of CareDx to a “hold” rating in a research report on Thursday, July 16th. BTIG Research increased their price target on shares of CareDx from $28.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Weiss Ratings lowered shares of CareDx from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, July 15th. Finally, Craig Hallum reaffirmed a “hold” rating and set a $35.00 price objective on shares of CareDx 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 given a Sell rating to the company’s stock. According to MarketBeat.com, CareDx has a consensus rating of “Hold” and an average target price of $33.67.

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.