Deutsche Bank AG Trims Stock Position in CareDx, Inc (NASDAQ:CDNA)

Deutsche Bank AG lessened its stake in CareDx, Inc (NASDAQ:CDNA - Free Report) by 15.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,692 shares of the company's stock after selling 23,401 shares during the period. Deutsche Bank AG owned approximately 0.24% of CareDx worth $2,712,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CDNA. Sterling Capital Management LLC grew its holdings in shares of CareDx by 771.2% during the 4th quarter. Sterling Capital Management LLC now owns 1,272 shares of the company's stock valued at $27,000 after purchasing an additional 1,126 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of CareDx by 553.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company's stock worth $84,000 after purchasing an additional 3,322 shares during the period. Plato Investment Management Ltd boosted its holdings in shares of CareDx by 34.1% during the fourth quarter. Plato Investment Management Ltd now owns 5,390 shares of the company's stock worth $116,000 after purchasing an additional 1,370 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in shares of CareDx by 41.5% in the fourth quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 9,343 shares of the company's stock worth $200,000 after purchasing an additional 2,742 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in CareDx during the 4th quarter valued at about $208,000.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group cut their price objective on CareDx from $34.00 to $26.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. HC Wainwright reiterated a "neutral" rating and issued a $25.00 price target 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 report on Monday, May 5th. Finally, Stephens reaffirmed an "overweight" rating and issued a $40.00 target price on shares of CareDx in a research report on Monday, May 5th. Three investment 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 a consensus target price of $30.33.

CareDx Stock Performance

Shares of CDNA stock traded up $0.68 during mid-day trading on Tuesday, hitting $17.63. The company's stock had a trading volume of 1,378,386 shares, compared to its average volume of 896,883. The stock has a market cap of $981.66 million, a price-to-earnings ratio of -6.53 and a beta of 2.27. CareDx, Inc has a 52-week low of $12.90 and a 52-week high of $34.84. The business has a 50-day moving average price of $17.41 and a 200 day moving average price of $20.64.

CareDx (NASDAQ:CDNA - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.03. The business had revenue of $84.69 million during the quarter, compared to analyst estimates of $84.56 million. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. CareDx's revenue was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.03) EPS. Equities research analysts predict that CareDx, Inc will post -0.9 EPS for the current fiscal year.

Insider Transactions at CareDx

In other news, Director Peter Maag sold 13,281 shares of the stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $17.23, for a total transaction of $228,831.63. Following the transaction, the director now directly owns 316,743 shares of the company's stock, valued at $5,457,481.89. This represents a 4.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Christine Cournoyer sold 16,700 shares of the firm'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 completion of the transaction, the director now owns 37,045 shares in the company, valued at approximately $523,445.85. This trade represents a 31.07% 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 over the last three months. 4.90% of the stock is currently owned by company insiders.

CareDx 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.