Deutsche Bank AG Purchases New Position in CareDx, Inc. $CDNA

Key Points

• Deutsche Bank acquired 54,287 CareDx shares worth approximately $1.55 million, giving it a 0.10% stake. Several other institutional investors also initiated or increased positions.
• CareDx reported quarterly EPS of $0.37, exceeding the $0.23 consensus estimate, while revenue reached $131.95 million—up 52.2% year over year and above expectations.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $47.75, while insiders have sold 114,936 shares worth about $3.77 million over the past 90 days.

Deutsche Bank AG acquired a new position in CareDx, Inc. (NASDAQ:CDNA - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 54,287 shares of the company's stock, valued at approximately $1,547,000. Deutsche Bank AG owned 0.10% of CareDx at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quarry LP bought a new stake in shares of CareDx during the fourth quarter valued at approximately $25,000. Meeder Asset Management Inc. bought a new position in CareDx in the fourth quarter worth $79,000. Quantbot Technologies LP purchased a new position in CareDx during the third quarter valued at $89,000. CWM LLC lifted its position in CareDx by 119.1% during the fourth quarter. CWM LLC now owns 7,407 shares of the company's stock valued at $140,000 after buying an additional 4,026 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of CareDx by 120.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,608 shares of the company's stock valued at $149,000 after buying an additional 4,160 shares in the last quarter.

CareDx Stock Down 4.9%

Shares of CDNA opened at $49.79 on Friday. CareDx, Inc. has a twelve month low of $12.37 and a twelve month high of $53.67. The company has a market capitalization of $2.58 billion, a P/E ratio of 24.05 and a beta of 2.39. The firm has a 50 day moving average of $38.41 and a 200 day moving average of $26.44.

CareDx (NASDAQ:CDNA - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.14. The business had revenue of $131.95 million for 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%.The firm's quarterly revenue was up 52.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.16) EPS. On average, sell-side analysts expect that CareDx, Inc. will post 0.47 EPS for the current year.

Insiders Place Their Bets

In other CareDx news, CEO John Walter Hanna, Jr. sold 39,900 shares of the business's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $29.24, for a total value of $1,166,676.00. Following the completion of the transaction, the chief executive officer 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director George Bickerstaff sold 20,000 shares of the company's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $46.28, for a total transaction of $925,600.00. Following the transaction, the director owned 134,061 shares in the company, valued at $6,204,343.08. This represents a 12.98% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 114,936 shares of company stock valued at $3,770,348. Company insiders own 2.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CDNA. Wall Street Zen upgraded shares of CareDx from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 3rd. Zacks Research upgraded CareDx from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 6th. Weiss Ratings raised CareDx from a "sell (d+)" rating to a "hold (c)" rating in a research report on Thursday, August 13th. Craig Hallum upgraded CareDx from a "hold" rating to a "buy" rating and set a $64.00 price target for the company in a report on Monday, August 3rd. Finally, HC Wainwright restated a "neutral" rating and set a $46.00 price target on shares of CareDx in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, CareDx has a consensus rating of "Moderate Buy" and an average price target of $47.75.

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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