BNP Paribas Arbitrage SA Grows Stock Holdings in CareDx, Inc (NASDAQ:CDNA)

BNP Paribas Arbitrage SA lifted its position in shares of CareDx, Inc (NASDAQ:CDNA) by 24.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 8,745 shares of the company’s stock after purchasing an additional 1,692 shares during the period. BNP Paribas Arbitrage SA’s holdings in CareDx were worth $595,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CDNA. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of CareDx by 14.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,343 shares of the company’s stock worth $387,000 after purchasing an additional 690 shares during the last quarter. Arizona State Retirement System raised its stake in CareDx by 7.5% during the 4th quarter. Arizona State Retirement System now owns 13,489 shares of the company’s stock worth $977,000 after acquiring an additional 939 shares in the last quarter. Victory Capital Management Inc. raised its stake in CareDx by 63.0% during the 4th quarter. Victory Capital Management Inc. now owns 11,288 shares of the company’s stock worth $818,000 after acquiring an additional 4,361 shares in the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in CareDx during the 4th quarter worth $1,448,000. Finally, First Trust Advisors LP raised its stake in CareDx by 3.5% during the 4th quarter. First Trust Advisors LP now owns 59,893 shares of the company’s stock worth $4,339,000 after acquiring an additional 2,020 shares in the last quarter.

Several equities research analysts recently commented on CDNA shares. Zacks Investment Research upgraded shares of CareDx from a “sell” rating to a “hold” rating in a research note on Tuesday, April 27th. HC Wainwright lowered shares of CareDx from a “buy” rating to a “neutral” rating in a research note on Friday, February 26th. Raymond James dropped their price objective on shares of CareDx from $98.00 to $90.00 and set a “strong-buy” rating on the stock in a research note on Thursday, May 6th. TheStreet upgraded shares of CareDx from a “d” rating to a “c-” rating in a research note on Friday, March 19th. Finally, The Goldman Sachs Group started coverage on shares of CareDx in a research note on Thursday, June 3rd. They issued a “buy” rating and a $95.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $76.13.

In related news, insider Peter Maag sold 10,000 shares of the business’s stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $72.40, for a total transaction of $724,000.00. Following the sale, the insider now owns 421,468 shares of the company’s stock, valued at $30,514,283.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Sasha King sold 8,071 shares of the business’s stock in a transaction dated Monday, June 7th. The stock was sold at an average price of $90.01, for a total transaction of $726,470.71. Following the sale, the chief marketing officer now directly owns 50,567 shares in the company, valued at approximately $4,551,535.67. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 161,329 shares of company stock worth $12,135,976. Company insiders own 4.60% of the company’s stock.

Shares of CareDx stock opened at $92.78 on Friday. CareDx, Inc has a 52-week low of $29.85 and a 52-week high of $99.83. The business’s 50-day moving average price is $76.08. The firm has a market capitalization of $4.83 billion, a price-to-earnings ratio of -319.92 and a beta of 0.67.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings results on Wednesday, May 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.13. CareDx had a negative net margin of 6.14% and a negative return on equity of 4.25%. The business had revenue of $67.40 million for the quarter, compared to analyst estimates of $60.77 million. As a group, analysts expect that CareDx, Inc will post -0.33 earnings per share for the current fiscal year.

CareDx Company Profile

CareDx, Inc discovers, develops, and commercializes diagnostic solutions for transplant patients and caregivers worldwide. It offers 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; and AlloSure Heart, a dd-cfDNA test to identify underlying cell injury leading to organ rejection.

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Institutional Ownership by Quarter for CareDx (NASDAQ:CDNA)

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