Bank of New York Mellon Corp Grows Stock Position in CareDx, Inc (NASDAQ:CDNA)

Bank of New York Mellon Corp increased its position in CareDx, Inc (NASDAQ:CDNA) by 6.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 193,994 shares of the company’s stock after acquiring an additional 12,404 shares during the quarter. Bank of New York Mellon Corp’s holdings in CareDx were worth $3,013,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its holdings in shares of CareDx by 900.8% in the second quarter. SG Americas Securities LLC now owns 110,416 shares of the company’s stock valued at $1,715,000 after purchasing an additional 99,383 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of CareDx by 1,021.8% during the second quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock worth $34,000 after purchasing an additional 2,013 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of CareDx by 8.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,150,972 shares of the company’s stock worth $12,189,000 after purchasing an additional 92,363 shares during the last quarter. Caxton Associates LP lifted its position in shares of CareDx by 97.2% during the first quarter. Caxton Associates LP now owns 96,308 shares of the company’s stock worth $1,020,000 after purchasing an additional 47,469 shares during the last quarter. Finally, Bamco Inc. NY bought a new stake in shares of CareDx in the first quarter valued at about $13,025,000.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CDNA. StockNews.com downgraded CareDx from a “buy” rating to a “hold” rating in a report on Saturday. Craig Hallum boosted their price target on CareDx from $22.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. The Goldman Sachs Group boosted their price target on CareDx from $16.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. BTIG Research upgraded CareDx from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Monday, August 19th. Finally, Wells Fargo & Company initiated coverage on CareDx in a report on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $28.80.

CareDx Trading Down 1.9 %

Shares of CDNA stock opened at $28.87 on Monday. CareDx, Inc has a twelve month low of $4.80 and a twelve month high of $34.84. The company has a market capitalization of $1.52 billion, a P/E ratio of -8.44 and a beta of 1.77. The business’s 50 day moving average is $24.75 and its two-hundred day moving average is $16.43.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.37. CareDx had a negative return on equity of 53.65% and a negative net margin of 53.73%. The firm had revenue of $92.27 million during the quarter, compared to analysts’ expectations of $67.20 million. As a group, equities analysts predict that CareDx, Inc will post -0.84 earnings per share for the current fiscal year.

Insider Activity at CareDx

In other CareDx news, insider Alexander L. Johnson sold 34,231 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $33.55, for a total transaction of $1,148,450.05. Following the completion of the sale, the insider now owns 284,983 shares of the company’s stock, valued at $9,561,179.65. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Alexander L. Johnson sold 21,557 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $32.58, for a total value of $702,327.06. Following the completion of the transaction, the insider now directly owns 284,983 shares of the company’s stock, valued at approximately $9,284,746.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander L. Johnson sold 34,231 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $33.55, for a total value of $1,148,450.05. Following the transaction, the insider now directly owns 284,983 shares of the company’s stock, valued at $9,561,179.65. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,340 shares of company stock worth $3,025,415. 4.20% of the stock is currently owned by insiders.

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.