Bellevue Group AG Sells 1,771,044 Shares of CareDx, Inc (NASDAQ:CDNA)

Bellevue Group AG reduced its holdings in shares of CareDx, Inc (NASDAQ:CDNA - Free Report) by 56.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,374,412 shares of the company's stock after selling 1,771,044 shares during the quarter. Bellevue Group AG owned approximately 2.56% of CareDx worth $29,426,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Sterling Capital Management LLC lifted its holdings in CareDx by 771.2% during the 4th quarter. Sterling Capital Management LLC now owns 1,272 shares of the company's stock worth $27,000 after purchasing an additional 1,126 shares during the last quarter. Tower Research Capital LLC TRC increased its position in CareDx by 553.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company's stock worth $84,000 after buying an additional 3,322 shares during the period. Plato Investment Management Ltd lifted its holdings in shares of CareDx by 34.1% during the fourth quarter. Plato Investment Management Ltd now owns 5,390 shares of the company's stock worth $116,000 after buying an additional 1,370 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in shares of CareDx by 41.5% in the fourth quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 9,343 shares of the company's stock valued at $200,000 after acquiring an additional 2,742 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in CareDx during the fourth quarter worth about $208,000.

Insider Activity

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 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 directly owns 37,045 shares in the company, valued at $523,445.85. This trade represents a 31.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,246 shares of company stock valued at $469,498. Insiders own 4.90% of the company's stock.

CareDx Stock Performance

NASDAQ:CDNA traded up $0.13 during trading hours on Friday, reaching $15.52. The stock had a trading volume of 1,039,485 shares, compared to its average volume of 878,679. The stock has a market cap of $864.17 million, a P/E ratio of -5.75 and a beta of 2.27. The stock has a 50 day simple moving average of $17.97 and a 200 day simple moving average of $21.21. CareDx, Inc has a 12-month low of $9.99 and a 12-month high of $34.84.

CareDx (NASDAQ:CDNA - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $84.69 million for the quarter, compared to analysts' expectations of $84.56 million. During the same period in the prior year, the company posted ($0.03) EPS. CareDx's revenue was up 17.6% compared to the same quarter last year. On average, equities analysts expect that CareDx, Inc will post -0.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

CDNA has been the topic of a number of analyst reports. Wells Fargo & Company raised CareDx from an "underweight" rating to an "equal weight" rating and reduced their price target for the stock from $28.00 to $24.00 in a research report on Wednesday, January 15th. StockNews.com cut CareDx from a "buy" rating to a "hold" rating in a research report on Monday. The Goldman Sachs Group cut their price objective on shares of CareDx from $34.00 to $26.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. HC Wainwright reissued a "neutral" rating and issued a $25.00 target price on shares of CareDx in a report on Monday. Finally, Stephens reiterated an "overweight" rating and set a $40.00 price target on shares of CareDx in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, CareDx currently has an average rating of "Moderate Buy" and a consensus target price of $30.33.

CareDx Company Profile

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.