CareDx, Inc. $CDNA Position Boosted by BNP Paribas Financial Markets

BNP Paribas Financial Markets lifted its stake in shares of CareDx, Inc. (NASDAQ:CDNA) by 151.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 487,050 shares of the company’s stock after purchasing an additional 293,614 shares during the period. BNP Paribas Financial Markets’ holdings in CareDx were worth $9,176,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. FNY Investment Advisers LLC acquired a new stake in CareDx during the third quarter worth about $31,000. Quantbot Technologies LP acquired a new stake in CareDx during the third quarter worth about $89,000. CWM LLC raised its stake in CareDx by 119.1% during the fourth quarter. CWM LLC now owns 7,407 shares of the company’s stock worth $140,000 after acquiring an additional 4,026 shares during the period. Tower Research Capital LLC TRC raised its stake in CareDx by 120.6% during the second quarter. Tower Research Capital LLC TRC now owns 7,608 shares of the company’s stock worth $149,000 after acquiring an additional 4,160 shares during the period. Finally, Cornerstone Investment Partners LLC acquired a new stake in CareDx during the fourth quarter worth about $203,000.

CareDx Stock Down 1.3%

Shares of CDNA stock opened at $21.95 on Tuesday. The stock has a 50-day simple moving average of $20.32 and a 200 day simple moving average of $19.43. CareDx, Inc. has a fifty-two week low of $10.96 and a fifty-two week high of $24.02. The stock has a market capitalization of $1.13 billion, a P/E ratio of -137.19 and a beta of 2.49.

CareDx (NASDAQ:CDNA) last announced its earnings results on Tuesday, April 28th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.23. CareDx had a negative return on equity of 2.65% and a negative net margin of 2.01%.The business had revenue of $117.70 million during the quarter, compared to analysts’ expectations of $102.03 million. During the same quarter last year, the business posted $0.09 earnings per share. The company’s quarterly revenue was up 39.3% on a year-over-year basis. On average, sell-side analysts anticipate that CareDx, Inc. will post 0.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CDNA shares. Wall Street Zen upgraded shares of CareDx from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. Weiss Ratings restated a “sell (d)” rating on shares of CareDx in a research note on Wednesday, May 27th. Wells Fargo & Company raised their price target on shares of CareDx from $18.00 to $21.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 25th. Finally, BTIG Research raised their price target on shares of CareDx from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, CareDx currently has a consensus rating of “Hold” and an average target price of $25.00.

Insiders Place Their Bets

In related news, CEO John Walter Hanna, Jr. sold 10,282 shares of the firm’s stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $21.12, for a total transaction of $217,155.84. Following the completion of the transaction, the chief executive officer owned 676,475 shares of the company’s stock, valued at $14,287,152. This trade represents a 1.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.40% of the stock is owned by corporate insiders.

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.