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

Hsbc Holdings PLC grew its holdings in shares of CareDx, Inc. (NASDAQ:CDNA) by 411.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 196,250 shares of the company’s stock after acquiring an additional 157,863 shares during the period. Hsbc Holdings PLC owned about 0.38% of CareDx worth $5,591,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Quarry LP purchased a new position in CareDx in the fourth quarter valued at about $25,000. Allworth Financial LP purchased a new stake in CareDx during the 2nd quarter worth approximately $72,000. Meeder Asset Management Inc. purchased a new stake in CareDx during the 4th quarter worth approximately $79,000. Quantbot Technologies LP purchased a new stake in CareDx during the 3rd quarter worth approximately $89,000. Finally, Tower Research Capital LLC TRC raised its position in shares of CareDx by 120.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,608 shares of the company’s stock valued at $149,000 after purchasing an additional 4,160 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Craig Hallum upgraded CareDx from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Monday, August 3rd. Weiss Ratings raised shares of CareDx from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday, August 13th. William Blair raised shares of CareDx to a “hold” rating in a report on Thursday, July 16th. Zacks Research upgraded shares of CareDx from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. Finally, HC Wainwright reissued a “neutral” rating and set a $46.00 price objective on shares of CareDx in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, CareDx currently has an average rating of “Moderate Buy” and a consensus target price of $51.20.

CareDx Trading Down 0.6%

Shares of CDNA opened at $50.03 on Thursday. CareDx, Inc. has a 52 week low of $13.12 and a 52 week high of $53.67. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of 24.17 and a beta of 2.43. The stock has a 50 day moving average of $42.00 and a 200-day moving average of $28.19.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings data 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 firm had revenue of $131.95 million for the quarter, compared to analysts’ expectations of $114.05 million. During the same period last year, the business posted ($0.16) earnings per share. The firm’s revenue for the quarter was up 52.2% on a year-over-year basis. On average, sell-side analysts predict that CareDx, Inc. will post 0.47 earnings per share for the current fiscal year.

Insider Buying and Selling at CareDx

In related news, Director Christine Cournoyer sold 16,000 shares of the stock in a transaction dated Tuesday, August 4th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hannah Valantine sold 12,103 shares of CareDx stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $23.11, for a total value of $279,700.33. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 88,103 shares of company stock worth $3,125,916 in the last quarter. 2.40% of the stock is currently owned by corporate insiders.

CareDx 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.