Ameriprise Financial Inc. Acquires 38,101 Shares of CareDx, Inc (NASDAQ:CDNA)

Ameriprise Financial Inc. increased its stake in shares of CareDx, Inc (NASDAQ:CDNA - Free Report) by 15.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 279,309 shares of the company's stock after purchasing an additional 38,101 shares during the quarter. Ameriprise Financial Inc. owned about 0.52% of CareDx worth $5,980,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Thompson Davis & CO. Inc. grew its stake in shares of CareDx by 6.3% during the fourth quarter. Thompson Davis & CO. Inc. now owns 16,050 shares of the company's stock valued at $344,000 after purchasing an additional 950 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of CareDx by 6.9% during the fourth quarter. Hsbc Holdings PLC now owns 17,131 shares of the company's stock valued at $365,000 after purchasing an additional 1,109 shares during the last quarter. Legal & General Group Plc lifted its holdings in CareDx by 1.3% in the fourth quarter. Legal & General Group Plc now owns 89,751 shares of the company's stock valued at $1,922,000 after buying an additional 1,118 shares during the period. Sterling Capital Management LLC lifted its holdings in CareDx by 771.2% in the fourth quarter. Sterling Capital Management LLC now owns 1,272 shares of the company's stock valued at $27,000 after buying an additional 1,126 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in CareDx by 6.5% in the fourth quarter. Principal Financial Group Inc. now owns 18,984 shares of the company's stock valued at $406,000 after buying an additional 1,151 shares during the period.

Analyst Upgrades and Downgrades

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

CareDx Stock Performance

CareDx stock traded down $1.00 during mid-day trading on Thursday, reaching $16.56. The company's stock had a trading volume of 834,030 shares, compared to its average volume of 896,546. The company has a market capitalization of $922.08 million, a price-to-earnings ratio of -6.13 and a beta of 2.27. CareDx, Inc has a 12 month low of $12.90 and a 12 month high of $34.84. The business's 50 day simple moving average is $17.32 and its 200 day simple moving average is $20.58.

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 analysts' consensus estimates of $0.06 by $0.03. The business had revenue of $84.69 million during the quarter, compared to the consensus estimate of $84.56 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The firm's revenue for the quarter was up 17.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.03) earnings per share. As a group, sell-side analysts expect that CareDx, Inc will post -0.9 EPS for the current year.

Insider Activity at CareDx

In other news, Director Peter Maag sold 13,281 shares of the company's stock in a transaction dated Wednesday, April 30th. The shares were 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christine Cournoyer sold 29,136 shares of CareDx stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $15.96, for a total value of $465,010.56. Following the transaction, the director now owns 37,045 shares of the company's stock, valued at $591,238.20. The trade was a 44.02% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,382 shares of company stock valued at $934,509. Corporate insiders own 4.90% of the company's stock.

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.