CareDx, Inc (NASDAQ:CDNA) Shares Sold by Bank of America Corp DE

Bank of America Corp DE reduced its stake in shares of CareDx, Inc (NASDAQ:CDNA - Free Report) by 88.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,065 shares of the company's stock after selling 300,261 shares during the period. Bank of America Corp DE owned about 0.07% of CareDx worth $858,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings 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 valued at $104,047,000 after acquiring an additional 323,554 shares during the last quarter. Invesco Ltd. boosted its holdings in CareDx by 3.5% in the fourth quarter. Invesco Ltd. now owns 1,514,850 shares of the company's stock worth $32,433,000 after purchasing an additional 51,160 shares during the period. Renaissance Technologies LLC increased its stake in CareDx by 15.9% during the fourth quarter. Renaissance Technologies LLC now owns 1,432,198 shares of the company's stock valued at $30,663,000 after purchasing an additional 196,298 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of CareDx by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 1,234,263 shares of the company's stock worth $26,432,000 after purchasing an additional 6,539 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of CareDx by 25.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 875,197 shares of the company's stock worth $18,738,000 after buying an additional 178,304 shares during the last quarter.

Insider Buying and Selling

In other news, Director Christine Cournoyer sold 16,700 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $14.13, for a total value of $235,971.00. Following the sale, the director now owns 37,045 shares of the company's stock, valued at approximately $523,445.85. The trade was a 31.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William A. Hagstrom sold 30,000 shares of the company's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $17.45, for a total value of $523,500.00. Following the completion of the sale, the director now owns 53,979 shares of the company's stock, valued at approximately $941,933.55. This trade represents a 35.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,382 shares of company stock valued at $1,458,009 over the last 90 days. 4.40% of the stock is currently owned by company insiders.

CareDx Stock Performance

Shares of CDNA traded down $1.25 during mid-day trading on Thursday, reaching $18.83. 868,865 shares of the company's stock traded hands, compared to its average volume of 912,966. The business's 50-day moving average price is $17.45 and its 200-day moving average price is $20.36. The stock has a market capitalization of $1.05 billion, a P/E ratio of -6.97 and a beta of 2.18. CareDx, Inc has a 12 month low of $13.18 and a 12 month high of $34.84.

CareDx (NASDAQ:CDNA - Get Free Report) last announced 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. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The firm had revenue of $84.69 million for the quarter, compared to the consensus estimate of $84.56 million. During the same quarter in the previous year, the business earned ($0.03) EPS. The firm's revenue for the quarter was up 17.6% on a year-over-year basis. Equities research analysts anticipate that CareDx, Inc will post -0.9 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of CareDx from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. HC Wainwright reaffirmed a "neutral" rating and set a $25.00 target price on shares of CareDx in a report on Monday, May 5th. Stephens reiterated an "overweight" rating and set a $40.00 price target on shares of CareDx in a research report on Monday, May 5th. Finally, The Goldman Sachs Group reduced their price objective 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 analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $30.33.

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.