Allianz Asset Management GmbH Cuts Holdings in CareDx, Inc. $CDNA

Allianz Asset Management GmbH lessened its holdings in shares of CareDx, Inc. (NASDAQ:CDNA) by 56.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,117 shares of the company’s stock after selling 38,709 shares during the period. Allianz Asset Management GmbH owned approximately 0.06% of CareDx worth $438,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CDNA. Bamco Inc. NY lifted its stake in shares of CareDx by 11.2% in the second quarter. Bamco Inc. NY now owns 2,435,657 shares of the company’s stock valued at $47,593,000 after purchasing an additional 245,651 shares during the period. Ophir Asset Management Pty Ltd boosted its stake in shares of CareDx by 17.0% during the 2nd quarter. Ophir Asset Management Pty Ltd now owns 1,892,994 shares of the company’s stock worth $36,989,000 after acquiring an additional 274,625 shares in the last quarter. Hood River Capital Management LLC grew its holdings in shares of CareDx by 11.5% in the 2nd quarter. Hood River Capital Management LLC now owns 1,765,981 shares of the company’s stock worth $34,507,000 after acquiring an additional 182,025 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in CareDx by 40.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,740,064 shares of the company’s stock valued at $25,301,000 after purchasing an additional 503,136 shares in the last quarter. Finally, Gagnon Securities LLC raised its holdings in CareDx by 11.7% during the third quarter. Gagnon Securities LLC now owns 1,729,425 shares of the company’s stock worth $25,146,000 after purchasing an additional 180,513 shares during the last quarter.

CareDx Stock Performance

CareDx stock opened at $19.63 on Friday. The firm has a market capitalization of $1.01 billion, a PE ratio of 16.50 and a beta of 2.51. The stock’s 50 day moving average price is $19.71 and its 200 day moving average price is $16.37. CareDx, Inc. has a one year low of $10.96 and a one year high of $25.55.

Insiders Place Their Bets

In other CareDx news, CEO John Walter Hanna, Jr. sold 19,280 shares of the firm’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $21.16, for a total transaction of $407,964.80. Following the completion of the sale, the chief executive officer owned 597,405 shares in the company, valued at $12,641,089.80. This trade represents a 3.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 29,636 shares of company stock worth $625,949. 4.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CDNA has been the topic of several research reports. Wall Street Zen lowered CareDx from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Craig Hallum cut shares of CareDx from a “buy” rating to a “hold” rating and set a $26.00 target price for the company. in a research report on Tuesday, January 6th. BTIG Research increased their target price on CareDx from $22.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Zacks Research upgraded shares of CareDx from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 18th. Finally, Wells Fargo & Company upped their target price on CareDx from $14.00 to $18.00 and gave the company an “equal weight” rating in a research note on Monday, December 15th. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $26.67.

CareDx Company 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.