Amova Asset Management Americas Inc. Buys 28,510 Shares of CareDx, Inc. $CDNA

Amova Asset Management Americas Inc. grew its stake in shares of CareDx, Inc. (NASDAQ:CDNA) by 2.0% during the first quarter, Holdings Channel reports. The institutional investor owned 1,475,126 shares of the company’s stock after buying an additional 28,510 shares during the period. Amova Asset Management Americas Inc.’s holdings in CareDx were worth $25,608,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CDNA. Quarry LP purchased a new stake in CareDx in the 4th quarter worth approximately $25,000. Meeder Asset Management Inc. purchased a new position in CareDx during the fourth quarter valued at approximately $79,000. Quantbot Technologies LP purchased a new position in CareDx during the third quarter valued at approximately $89,000. CWM LLC boosted its position in shares of CareDx by 119.1% in the fourth quarter. CWM LLC now owns 7,407 shares of the company’s stock worth $140,000 after purchasing an additional 4,026 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in shares of CareDx by 120.6% in the second quarter. Tower Research Capital LLC TRC now owns 7,608 shares of the company’s stock worth $149,000 after purchasing an additional 4,160 shares during the period.

Insiders Place Their Bets

In other CareDx news, CEO John Walter Hanna, Jr. sold 39,900 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $29.24, for a total transaction of $1,166,676.00. Following the completion of the transaction, the chief executive officer owned 661,959 shares of the company’s stock, valued at $19,355,681.16. This represents a 5.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hannah Valantine sold 12,103 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $23.11, for a total value of $279,700.33. Following 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 position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 78,936 shares of company stock worth $2,093,708. 2.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

CDNA has been the subject of a number of analyst reports. BTIG Research increased their price objective on shares of CareDx from $28.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Craig Hallum reaffirmed a “hold” rating and issued a $35.00 target price on shares of CareDx in a report on Thursday. Weiss Ratings lowered CareDx from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, July 15th. Finally, Wall Street Zen upgraded CareDx from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, CareDx currently has a consensus rating of “Hold” and a consensus price target of $33.67.

CareDx Price Performance

Shares of CDNA opened at $38.37 on Tuesday. CareDx, Inc. has a 1 year low of $11.26 and a 1 year high of $40.47. The company has a 50 day simple moving average of $25.54 and a two-hundred day simple moving average of $21.42. The firm has a market cap of $1.98 billion, a P/E ratio of -239.81 and a beta of 2.43.

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