Bank of America Corp DE Acquires 145,840 Shares of CareDx, Inc. $CDNA

Bank of America Corp DE lifted its stake in CareDx, Inc. (NASDAQ:CDNA - Free Report) by 44.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 470,665 shares of the company's stock after acquiring an additional 145,840 shares during the period. Bank of America Corp DE owned approximately 0.91% of CareDx worth $8,171,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Globeflex Capital L P grew its position in CareDx by 49.4% in the 1st quarter. Globeflex Capital L P now owns 119,252 shares of the company's stock worth $2,070,000 after purchasing an additional 39,457 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of CareDx by 10.1% in the first quarter. Janus Henderson Group PLC now owns 316,519 shares of the company's stock valued at $5,495,000 after buying an additional 28,958 shares during the period. Fidelis Capital Partners LLC bought a new stake in shares of CareDx in the fourth quarter valued at about $420,000. Renaissance Technologies LLC grew its position in CareDx by 7.2% during the first quarter. Renaissance Technologies LLC now owns 1,184,398 shares of the company's stock worth $20,561,000 after buying an additional 79,200 shares in the last quarter. Finally, Amova Asset Management Americas Inc. grew its position in CareDx by 2.0% during the first quarter. Amova Asset Management Americas Inc. now owns 1,475,126 shares of the company's stock worth $25,608,000 after buying an additional 28,510 shares in the last quarter.

CareDx Trading Down 2.3%

NASDAQ CDNA opened at $47.50 on Tuesday. The stock's 50 day moving average is $36.31 and its two-hundred day moving average is $25.58. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of 22.95 and a beta of 2.38. CareDx, Inc. has a 1-year low of $12.37 and a 1-year high of $49.76.

CareDx (NASDAQ:CDNA - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.14. The business had revenue of $131.95 million during the quarter, compared to analysts' expectations of $114.05 million. CareDx had a return on equity of 2.87% and a net margin of 24.23%.CareDx's quarterly revenue was up 52.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.16) EPS. On average, analysts predict that CareDx, Inc. will post 0.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

CDNA has been the subject of several recent research reports. Zacks Research raised CareDx from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 6th. Craig Hallum raised CareDx from a "hold" rating to a "buy" rating and set a $64.00 price objective on the stock in a report on Monday, August 3rd. William Blair upgraded CareDx to a "hold" rating in a research report on Thursday, July 16th. Weiss Ratings upgraded CareDx from a "sell (d+)" rating to a "hold (c)" rating in a research note on Thursday, August 13th. Finally, BTIG Research raised their target price on CareDx from $45.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, CareDx currently has an average rating of "Moderate Buy" and a consensus target price of $47.75.

Insider Buying and Selling

In other CareDx news, Director Hannah Valantine sold 12,103 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $23.11, for a total transaction of $279,700.33. Following the completion of the transaction, the director directly owned 36,686 shares in the company, valued at $847,813.46. This represents a 24.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Walter Hanna, Jr. sold 39,900 shares of CareDx stock in a transaction on Monday, June 29th. The shares were sold at an average price of $29.24, for a total value of $1,166,676.00. Following the transaction, the chief executive officer directly owned 661,959 shares of the company's stock, valued at approximately $19,355,681.16. The trade was a 5.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 114,936 shares of company stock valued at $3,770,348. 2.40% of the stock is currently owned by insiders.

CareDx Profile

CareDx, Inc NASDAQ: CDNA is a precision diagnostics company focused on the care of transplant patients. The firm develops and commercializes non‐invasive tests designed to detect organ transplant rejection and infection risk, helping physicians make informed management decisions throughout the post‐transplant journey.

The company's core product portfolio includes AlloMap®, a gene expression profiling test for heart transplant recipients, and AlloSure®, a donor‐derived cell‐free DNA assay used primarily in kidney transplant monitoring.

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