Ameriprise Financial Inc. Raises Holdings in CareDx, Inc (NASDAQ:CDNA)

Ameriprise Financial Inc. grew its stake in CareDx, Inc (NASDAQ:CDNA - Free Report) by 15.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 279,309 shares of the company's stock after purchasing an additional 38,101 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.52% of CareDx worth $5,980,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of CareDx by 7.1% in the 4th quarter. Vanguard Group Inc. now owns 4,859,732 shares of the company's stock worth $104,047,000 after buying an additional 323,554 shares during the last quarter. Intrinsic Edge Capital Management LLC bought a new position in CareDx in the 4th quarter valued at $5,460,000. Next Century Growth Investors LLC purchased a new stake in shares of CareDx during the 4th quarter valued at $4,705,000. AQR Capital Management LLC raised its stake in shares of CareDx by 65.9% during the 4th quarter. AQR Capital Management LLC now owns 547,270 shares of the company's stock worth $11,717,000 after purchasing an additional 217,476 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of CareDx by 15.9% during the 4th quarter. Renaissance Technologies LLC now owns 1,432,198 shares of the company's stock worth $30,663,000 after purchasing an additional 196,298 shares during the period.

Insider Activity

In related news, Director Christine Cournoyer sold 29,136 shares of the company'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 value of $465,010.56. Following the transaction, the director now directly owns 37,045 shares in the company, valued at approximately $591,238.20. This represents a 44.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter Maag sold 13,281 shares of CareDx stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $17.23, for a total transaction of $228,831.63. Following the sale, the director now owns 316,743 shares of the company's stock, valued at approximately $5,457,481.89. The trade was a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,382 shares of company stock worth $934,509 in the last three months. Corporate insiders own 4.90% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. HC Wainwright restated a "neutral" rating and set 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 research note on Monday, May 5th. Stephens reiterated an "overweight" rating and issued 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 CareDx from $34.00 to $26.00 and set a "buy" rating for the company in a research 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's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $30.33.

CareDx Price Performance

Shares of CareDx stock traded up $0.68 during trading hours on Tuesday, reaching $17.63. The company had a trading volume of 1,378,386 shares, compared to its average volume of 896,883. The firm has a market cap of $981.66 million, a PE ratio of -6.53 and a beta of 2.27. CareDx, Inc has a one year low of $12.90 and a one year high of $34.84. The business has a fifty day simple moving average of $17.44 and a 200 day simple moving average of $20.66.

CareDx (NASDAQ:CDNA - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.03. The company had revenue of $84.69 million during the quarter, compared to analyst estimates of $84.56 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. CareDx's revenue was up 17.6% compared to the same quarter last year. During the same period last year, the business earned ($0.03) earnings per share. On average, research analysts forecast that CareDx, Inc will post -0.9 EPS for the current year.

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.