CareDx, Inc. $CDNA Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its position in shares of CareDx, Inc. (NASDAQ:CDNA) by 411.2% in the 2nd quarter, Holdings Channel reports. The fund owned 196,250 shares of the company’s stock after buying an additional 157,863 shares during the period. Hsbc Holdings PLC’s holdings in CareDx were worth $5,591,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Canada Pension Plan Investment Board bought a new position in CareDx in the 2nd quarter worth about $1,505,000. Man Group plc bought a new stake in shares of CareDx during the second quarter valued at approximately $3,618,000. Virtus Advisers LLC acquired a new position in shares of CareDx during the second quarter worth approximately $1,198,000. Bamco Inc. NY acquired a new position in shares of CareDx during the second quarter worth approximately $55,214,000. Finally, Janus Henderson Group PLC grew its holdings in CareDx by 10.1% in the 1st quarter. Janus Henderson Group PLC now owns 316,519 shares of the company’s stock worth $5,495,000 after buying an additional 28,958 shares in the last quarter.

Insider Transactions at CareDx

In other news, Director Hannah Valantine sold 12,103 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $23.11, for a total value of $279,700.33. Following 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 filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Walter Jr sold 39,900 shares of the company’s 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 sale, the chief executive officer owned 661,959 shares of the company’s stock, 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 88,103 shares of company stock valued at $3,125,916 in the last quarter. Company insiders own 2.40% of the company’s stock.

CareDx Price Performance

CareDx stock opened at $50.03 on Thursday. CareDx, Inc. has a 12-month low of $13.12 and a 12-month high of $53.67. The stock has a market capitalization of $2.59 billion, a PE ratio of 24.17 and a beta of 2.43. The firm has a 50 day simple moving average of $42.00 and a 200-day simple moving average of $28.19.

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

Analyst Ratings Changes

Several analysts recently commented on CDNA shares. William Blair upgraded CareDx to a “hold” rating in a research report on Thursday, July 16th. BTIG Research increased their price target on CareDx from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. HC Wainwright reissued a “neutral” rating and issued a $46.00 price target on shares of CareDx in a research note on Friday, July 31st. Craig Hallum raised 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. Finally, Canaccord Genuity Group began coverage on shares of CareDx in a research note on Wednesday, September 2nd. They set a “buy” rating and a $65.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, CareDx currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.20.

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.