Hsbc Holdings PLC Acquires Shares of 196,250 CareDx, Inc. $CDNA

Hsbc Holdings PLC acquired a new stake in shares of CareDx, Inc. (NASDAQ:CDNA) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 196,250 shares of the company’s stock, valued at approximately $5,591,000.

A number of other institutional investors also recently modified their holdings of CDNA. Globeflex Capital L P increased its stake in CareDx by 49.4% during the 1st quarter. Globeflex Capital L P now owns 119,252 shares of the company’s stock worth $2,070,000 after buying an additional 39,457 shares during the period. Janus Henderson Group PLC boosted its position in CareDx by 10.1% in the 1st quarter. Janus Henderson Group PLC now owns 316,519 shares of the company’s stock valued at $5,495,000 after buying an additional 28,958 shares during the last quarter. Virtus Advisers LLC acquired a new stake in shares of CareDx during the second quarter valued at about $1,198,000. Fidelis Capital Partners LLC acquired a new stake in shares of CareDx during the fourth quarter valued at about $420,000. Finally, Renaissance Technologies LLC increased its position in shares of CareDx by 7.2% during the first quarter. Renaissance Technologies LLC now owns 1,184,398 shares of the company’s stock worth $20,561,000 after acquiring an additional 79,200 shares during the last quarter.

Insider Transactions at CareDx

In other CareDx news, Director Christine Cournoyer sold 16,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $46.94, for a total transaction of $751,040.00. Following the sale, the director owned 42,943 shares in the company, valued at $2,015,744.42. This represents a 27.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director George Bickerstaff sold 20,000 shares of the company’s 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 sale, the director owned 134,061 shares in the company, valued at $6,204,343.08. The trade was a 12.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 114,936 shares of company stock valued at $3,770,348 in the last three months. Corporate insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on CDNA. BTIG Research boosted 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. William Blair upgraded CareDx to a “hold” rating in a research note on Thursday, July 16th. Zacks Research upgraded CareDx from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. HC Wainwright reaffirmed a “neutral” rating and issued a $46.00 target price on shares of CareDx in a research report on Friday, July 31st. Finally, Wall Street Zen raised CareDx from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 3rd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $47.75.

CareDx Stock Performance

CDNA opened at $49.79 on Friday. The company has a 50-day moving average of $38.41 and a 200-day moving average of $26.44. The company has a market capitalization of $2.58 billion, a P/E ratio of 24.05 and a beta of 2.39. CareDx, Inc. has a 1-year low of $12.37 and a 1-year high of $53.67.

CareDx (NASDAQ:CDNA) last issued its earnings results on Thursday, July 30th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.14. CareDx had a net margin of 24.23% and a return on equity of 2.87%. The business had revenue of $131.95 million for the quarter, compared to analyst estimates of $114.05 million. During the same quarter in the prior year, the business posted ($0.16) EPS. The company’s revenue for the quarter 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.

About CareDx

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.