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

Chevy Chase Trust Holdings LLC bought a new position in CareDx, Inc. (NASDAQ:CDNA - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 535,341 shares of the company's stock, valued at approximately $9,502,000. Chevy Chase Trust Holdings LLC owned 0.97% of CareDx at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CDNA. Rhumbline Advisers grew its stake in shares of CareDx by 1.8% in the 4th quarter. Rhumbline Advisers now owns 81,201 shares of the company's stock worth $1,738,000 after purchasing an additional 1,451 shares during the last quarter. Principal Financial Group Inc. grew its position in CareDx by 6.5% in the fourth quarter. Principal Financial Group Inc. now owns 18,984 shares of the company's stock worth $406,000 after buying an additional 1,151 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of CareDx by 3.9% in the fourth quarter. Bank of New York Mellon Corp now owns 145,270 shares of the company's stock valued at $3,110,000 after buying an additional 5,502 shares in the last quarter. US Bancorp DE lifted its position in shares of CareDx by 907.5% during the 4th quarter. US Bancorp DE now owns 17,168 shares of the company's stock valued at $368,000 after acquiring an additional 15,464 shares during the last quarter. Finally, Plato Investment Management Ltd lifted its position in shares of CareDx by 34.1% during the 4th quarter. Plato Investment Management Ltd now owns 5,390 shares of the company's stock valued at $116,000 after acquiring an additional 1,370 shares during the last quarter.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. HC Wainwright reaffirmed a "neutral" rating and set a $25.00 target price on shares of CareDx in a research report on Monday, May 5th. Wall Street Zen cut CareDx from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Stephens reaffirmed an "overweight" rating and set a $40.00 price objective on shares of CareDx in a research note on Monday, May 5th. Finally, The Goldman Sachs Group decreased their target price on shares of CareDx from $34.00 to $26.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $30.33.

CareDx Stock Performance

NASDAQ:CDNA traded up $0.31 during trading hours on Monday, hitting $19.54. 770,250 shares of the company's stock traded hands, compared to its average volume of 913,469. The firm has a market cap of $1.09 billion, a P/E ratio of 16.99 and a beta of 2.18. CareDx, Inc. has a twelve month low of $14.09 and a twelve month high of $34.84. The stock's fifty day moving average price is $17.70 and its two-hundred day moving average price is $19.79.

CareDx (NASDAQ:CDNA - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.03. The company had revenue of $84.69 million for the quarter, compared to analysts' expectations of $84.56 million. CareDx had a return on equity of 21.16% and a net margin of 19.79%. The business's revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.03) EPS. On average, equities research analysts predict that CareDx, Inc. will post -0.9 earnings per share for the current year.

Insider Activity at CareDx

In related news, Director Christine Cournoyer sold 29,136 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $15.96, for a total transaction of $465,010.56. Following the transaction, the director owned 37,045 shares of the company's stock, valued at approximately $591,238.20. This trade represents a 44.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Hannah Valantine sold 10,570 shares of CareDx stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $19.16, for a total transaction of $202,521.20. Following the completion of the sale, the director owned 38,994 shares of the company's stock, valued at $747,125.04. This trade represents a 21.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 129,343 shares of company stock worth $2,238,811 in the last 90 days. 4.40% of the stock is owned by corporate insiders.

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.