Amova Asset Management Americas Inc. Increases Position in CareDx, Inc. $CDNA

Amova Asset Management Americas Inc. raised its holdings in shares of CareDx, Inc. (NASDAQ:CDNA) by 2.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,475,126 shares of the company’s stock after purchasing an additional 28,510 shares during the period. Amova Asset Management Americas Inc. owned 2.86% of CareDx worth $25,608,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Quarry LP purchased a new position in CareDx during the fourth quarter valued at $25,000. Meeder Asset Management Inc. purchased a new position in shares of CareDx in the 4th quarter worth about $79,000. Quantbot Technologies LP bought a new position in CareDx in the 3rd quarter worth about $89,000. CWM LLC boosted its stake in CareDx by 119.1% in the 4th quarter. CWM LLC now owns 7,407 shares of the company’s stock worth $140,000 after purchasing an additional 4,026 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in 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 purchasing an additional 4,160 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wall Street Zen upgraded shares of CareDx from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. Craig Hallum reiterated a “hold” rating and issued a $35.00 target price on shares of CareDx in a research note on Thursday. Weiss Ratings cut shares of CareDx from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, July 15th. Finally, BTIG Research raised their price target on shares of CareDx from $28.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, CareDx presently has a consensus rating of “Hold” and an average price target of $33.67.

CareDx Stock Down 3.4%

Shares of CareDx stock opened at $38.37 on Tuesday. The company has a market cap of $1.98 billion, a price-to-earnings ratio of -239.81 and a beta of 2.43. The company’s 50 day moving average is $25.54 and its 200 day moving average is $21.42. CareDx, Inc. has a twelve month low of $11.26 and a twelve month high of $40.47.

CareDx (NASDAQ:CDNA) last posted its earnings results on Tuesday, April 28th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.23. The business had revenue of $117.70 million during the quarter, compared to the consensus estimate of $102.03 million. CareDx had a negative net margin of 2.01% and a negative return on equity of 2.65%. The firm’s revenue was up 39.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 EPS. Sell-side analysts expect that CareDx, Inc. will post 0.22 EPS for the current fiscal year.

Insider Transactions at CareDx

In other CareDx news, CEO John Walter Hanna, Jr. sold 39,900 shares of the firm’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 transaction, the chief executive officer directly owned 661,959 shares of the company’s stock, valued at approximately $19,355,681.16. This trade represents a 5.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hannah Valantine sold 12,103 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $23.11, for a total transaction of $279,700.33. Following the completion of the transaction, the director owned 36,686 shares in the company, valued at $847,813.46. The trade was a 24.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 78,936 shares of company stock worth $2,093,708. 2.40% of the stock is owned by corporate insiders.

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.