Chevy Chase Trust Holdings LLC Invests $9.50 Million in CareDx, Inc. (NASDAQ:CDNA)

Chevy Chase Trust Holdings LLC purchased a new stake in CareDx, Inc. (NASDAQ:CDNA - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 535,341 shares of the company's stock, valued at approximately $9,502,000. Chevy Chase Trust Holdings LLC owned 0.97% of CareDx as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Swiss National Bank raised its stake in shares of CareDx by 1.9% during the fourth quarter. Swiss National Bank now owns 98,600 shares of the company's stock valued at $2,111,000 after purchasing an additional 1,800 shares during the period. KLP Kapitalforvaltning AS acquired a new position in CareDx in the fourth quarter worth $208,000. Nuveen Asset Management LLC boosted its holdings in CareDx by 15.5% in the fourth quarter. Nuveen Asset Management LLC now owns 448,113 shares of the company's stock worth $9,594,000 after purchasing an additional 60,050 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of CareDx by 6.5% during the fourth quarter. Principal Financial Group Inc. now owns 18,984 shares of the company's stock valued at $406,000 after acquiring an additional 1,151 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of CareDx during the fourth quarter valued at $3,694,000.

Insider Activity at CareDx

In related news, Director Christine Cournoyer sold 16,700 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $14.13, for a total value of $235,971.00. Following the completion of the sale, the director now owns 37,045 shares of the company's stock, valued at $523,445.85. This trade represents a 31.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William A. Hagstrom sold 30,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $17.45, for a total transaction of $523,500.00. Following the completion of the sale, the director now directly owns 53,979 shares of the company's stock, valued at approximately $941,933.55. This represents a 35.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 129,343 shares of company stock valued at $2,238,811 over the last quarter. Corporate insiders own 4.40% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on CDNA shares. HC Wainwright reiterated a "neutral" rating and issued a $25.00 price target on shares of CareDx in a research report on Monday, May 5th. Wall Street Zen lowered shares of CareDx from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Stephens reaffirmed an "overweight" rating and issued a $40.00 price target on shares of CareDx in a research note on Monday, May 5th. Finally, The Goldman Sachs Group lowered their target price on shares of CareDx from $34.00 to $26.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, CareDx currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.33.

CareDx Stock Down 0.3%

CDNA traded down $0.06 during midday trading on Friday, reaching $19.23. 2,030,481 shares of the company's stock were exchanged, compared to its average volume of 913,453. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 16.72 and a beta of 2.18. CareDx, Inc. has a one year low of $13.81 and a one year high of $34.84. The business has a 50-day simple moving average of $17.62 and a two-hundred day simple moving average of $19.90.

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, topping analysts' consensus estimates of $0.06 by $0.03. The firm had revenue of $84.69 million during the quarter, compared to analysts' expectations of $84.56 million. CareDx had a net margin of 19.79% and a return on equity of 21.16%. The company's revenue for the quarter was up 17.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.03) earnings per share. As a group, research analysts anticipate that CareDx, Inc. will post -0.9 EPS for the current fiscal year.

CareDx 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.