Allspring Global Investments Holdings LLC Has $7.67 Million Position in CareDx, Inc. (NASDAQ:CDNA)

Allspring Global Investments Holdings LLC increased its stake in shares of CareDx, Inc. (NASDAQ:CDNA - Free Report) by 32.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 432,035 shares of the company's stock after purchasing an additional 104,692 shares during the period. Allspring Global Investments Holdings LLC owned 0.78% of CareDx worth $7,669,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CDNA. Vanguard Group Inc. increased its holdings in shares of CareDx by 7.1% during 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. Bamco Inc. NY raised its stake in CareDx by 17.6% during the fourth quarter. Bamco Inc. NY now owns 2,207,299 shares of the company's stock worth $47,258,000 after acquiring an additional 330,627 shares during the period. Fred Alger Management LLC raised its stake in CareDx by 7.3% during the fourth quarter. Fred Alger Management LLC now owns 1,613,992 shares of the company's stock worth $34,556,000 after acquiring an additional 110,471 shares during the period. Invesco Ltd. raised its stake in CareDx by 3.5% during the fourth quarter. Invesco Ltd. now owns 1,514,850 shares of the company's stock worth $32,433,000 after acquiring an additional 51,160 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of CareDx by 15.9% in 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 period.

CareDx Trading Up 4.3%

CDNA traded up $0.80 during trading on Tuesday, hitting $19.25. The stock had a trading volume of 729,031 shares, compared to its average volume of 919,901. The firm has a market cap of $1.07 billion, a PE ratio of 16.74 and a beta of 2.19. The company has a 50 day simple moving average of $17.81 and a 200-day simple moving average of $19.71. CareDx, Inc. has a 12 month low of $14.09 and a 12 month high of $34.84.

CareDx (NASDAQ:CDNA - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.03. The company had revenue of $84.69 million for the quarter, compared to analyst estimates of $84.56 million. CareDx had a net margin of 19.79% and a return on equity of 21.16%. The business's quarterly revenue was up 17.6% on a year-over-year basis. During the same period last year, the business posted ($0.03) EPS. As a group, sell-side analysts anticipate that CareDx, Inc. will post -0.9 earnings per share for the current fiscal year.

Insider Activity at CareDx

In other CareDx news, Director Peter Maag sold 10,000 shares of the firm's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $19.24, for a total value of $192,400.00. Following the sale, the director directly owned 318,846 shares in the company, valued at $6,134,597.04. This trade represents a 3.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Christine Cournoyer sold 29,136 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $15.96, for a total transaction of $465,010.56. Following the completion of the sale, the director owned 37,045 shares in the company, valued at $591,238.20. This represents a 44.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 129,078 shares of company stock valued at $2,234,115. Company insiders own 4.40% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CDNA shares. The Goldman Sachs Group decreased their price objective 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. Stephens reiterated an "overweight" rating and issued a $40.00 target price on shares of CareDx in a research report on Monday, May 5th. HC Wainwright restated a "neutral" rating and set a $25.00 price target on shares of CareDx in a report on Monday, May 5th. Finally, Wall Street Zen downgraded shares of CareDx from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, CareDx presently has an average rating of "Moderate Buy" and an average price target of $30.33.

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.