SG Americas Securities LLC Trims Stock Holdings in CareDx, Inc. (NASDAQ:CDNA)

SG Americas Securities LLC lowered its position in shares of CareDx, Inc. (NASDAQ:CDNA) by 30.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,733 shares of the company’s stock after selling 7,354 shares during the quarter. SG Americas Securities LLC’s holdings in CareDx were worth $297,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rhumbline Advisers boosted its position in shares of CareDx by 1.8% in the 4th quarter. Rhumbline Advisers now owns 81,201 shares of the company’s stock worth $1,738,000 after purchasing an additional 1,451 shares in the last quarter. Principal Financial Group Inc. boosted its stake in CareDx by 6.5% in the 4th quarter. Principal Financial Group Inc. now owns 18,984 shares of the company’s stock worth $406,000 after purchasing an additional 1,151 shares in the last quarter. Bank of New York Mellon Corp grew its position in CareDx by 3.9% during the 4th quarter. Bank of New York Mellon Corp now owns 145,270 shares of the company’s stock valued at $3,110,000 after purchasing an additional 5,502 shares during the last quarter. US Bancorp DE grew its position in CareDx by 907.5% during the 4th quarter. US Bancorp DE now owns 17,168 shares of the company’s stock valued at $368,000 after purchasing an additional 15,464 shares during the last quarter. Finally, Plato Investment Management Ltd increased its position 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 valued at $116,000 after acquiring an additional 1,370 shares in the last quarter.

Insider Activity at CareDx

In other CareDx news, Director Christine Cournoyer sold 16,700 shares of the firm’s stock in a transaction that occurred 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 directly owns 37,045 shares of the company’s stock, valued at approximately $523,445.85. This trade represents a 31.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William A. Hagstrom sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $17.45, for a total value of $523,500.00. Following the transaction, the director now directly owns 53,979 shares of the company’s stock, valued at approximately $941,933.55. The trade was a 35.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 129,343 shares of company stock worth $2,238,811. 4.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CDNA shares. Stephens reiterated an “overweight” rating and set a $40.00 price target on shares of CareDx in a research note on Monday, May 5th. Wall Street Zen downgraded shares of CareDx from a “buy” rating to a “hold” rating in a report on Monday, May 5th. The Goldman Sachs Group dropped their price target on CareDx from $34.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Finally, HC Wainwright restated a “neutral” rating and set a $25.00 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 issued a buy rating to the company. According to MarketBeat, CareDx presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.33.

CareDx Stock Performance

Shares of CDNA opened at $19.29 on Friday. The business’s 50-day moving average is $17.62 and its two-hundred day moving average is $19.90. The company has a market capitalization of $1.07 billion, a P/E ratio of 16.77 and a beta of 2.18. CareDx, Inc. has a fifty-two week low of $13.81 and a fifty-two week high of $34.84.

CareDx (NASDAQ:CDNA) last posted its earnings results on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.06 by $0.03. CareDx had a return on equity of 21.16% and a net margin of 19.79%. The firm had revenue of $84.69 million for the quarter, compared to analyst estimates of $84.56 million. During the same period last year, the company earned ($0.03) earnings per share. CareDx’s revenue for the quarter was up 17.6% compared to the same quarter last year. Analysts forecast that CareDx, Inc. will post -0.9 EPS for the current year.

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.