Hsbc Holdings PLC Boosts Holdings in CareDx, Inc (NASDAQ:CDNA)

Hsbc Holdings PLC lifted its position in CareDx, Inc (NASDAQ:CDNA) by 6.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,131 shares of the company’s stock after purchasing an additional 1,109 shares during the quarter. Hsbc Holdings PLC’s holdings in CareDx were worth $365,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Tower Research Capital LLC TRC increased its stake in CareDx by 553.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company’s stock worth $84,000 after acquiring an additional 3,322 shares during the last quarter. MetLife Investment Management LLC raised its stake in CareDx by 7.4% in the fourth quarter. MetLife Investment Management LLC now owns 31,034 shares of the company’s stock valued at $664,000 after purchasing an additional 2,134 shares in the last quarter. Formula Growth Ltd. bought a new stake in CareDx during the fourth quarter valued at approximately $1,670,000. Alpha DNA Investment Management LLC grew its stake in CareDx by 25.7% in the 4th quarter. Alpha DNA Investment Management LLC now owns 18,983 shares of the company’s stock worth $406,000 after buying an additional 3,880 shares in the last quarter. Finally, XTX Topco Ltd increased its holdings in shares of CareDx by 95.6% in the 4th quarter. XTX Topco Ltd now owns 31,133 shares of the company’s stock worth $667,000 after buying an additional 15,214 shares during the last quarter.

CareDx Price Performance

CDNA opened at $15.42 on Friday. CareDx, Inc has a 1 year low of $9.99 and a 1 year high of $34.84. The stock’s 50 day simple moving average is $17.97 and its 200 day simple moving average is $21.21. The firm has a market cap of $858.49 million, a price-to-earnings ratio of -5.71 and a beta of 2.27.

CareDx (NASDAQ:CDNA) last issued its earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.03. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The firm had revenue of $84.69 million for the quarter, compared to analysts’ expectations of $84.56 million. During the same quarter last year, the business earned ($0.03) earnings per share. The business’s revenue was up 17.6% on a year-over-year basis. As a group, sell-side analysts anticipate that CareDx, Inc will post -0.9 EPS for the current year.

Insider Buying and Selling at CareDx

In other news, Director Peter Maag sold 13,281 shares of the stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $17.23, for a total value of $228,831.63. Following the sale, the director now directly owns 316,743 shares of the company’s stock, valued at approximately $5,457,481.89. This represents a 4.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christine Cournoyer sold 16,700 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $14.13, for a total transaction of $235,971.00. Following the sale, the director now owns 37,045 shares of the company’s stock, valued at approximately $523,445.85. This represents a 31.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,246 shares of company stock worth $469,498. 4.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. StockNews.com downgraded shares of CareDx from a “buy” rating to a “hold” rating in a report on Monday. HC Wainwright reaffirmed a “neutral” rating and set a $25.00 price target on shares of CareDx in a research note on Monday. The Goldman Sachs Group decreased their price objective on CareDx from $34.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Stephens reaffirmed an “overweight” rating and issued a $40.00 target price on shares of CareDx in a research note on Monday. Finally, Wells Fargo & Company raised shares of CareDx from an “underweight” rating to an “equal weight” rating and decreased their price target for the stock from $28.00 to $24.00 in a research note on Wednesday, January 15th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, CareDx presently has a consensus rating of “Moderate Buy” and an average target price of $30.33.

About CareDx

CareDx, Inc engages in the discovery, development, and commercialization of diagnostic solutions for transplant patients and caregivers in the United States and internationally. It also provides AlloSure Kidney, a donor-derived cell-free DNA (dd-cfDNA) solution for kidney transplant patients; AlloMap Heart, a gene expression solution for heart transplant patients; AlloSure Heart, a dd-cfDNA solution for heart transplant patients; and AlloSure Lung, a dd-cfDNA solution for lung transplant patients.