Bank of Montreal Can Purchases 533 Shares of CareDx, Inc (NASDAQ:CDNA)

Bank of Montreal Can lifted its position in CareDx, Inc (NASDAQ:CDNA) by 0.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 584,589 shares of the company’s stock after acquiring an additional 533 shares during the quarter. Bank of Montreal Can owned 1.12% of CareDx worth $9,085,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Renaissance Technologies LLC lifted its stake in CareDx by 6.2% in the second quarter. Renaissance Technologies LLC now owns 1,512,700 shares of the company’s stock worth $23,492,000 after purchasing an additional 88,100 shares during the last quarter. Plato Investment Management Ltd bought a new stake in shares of CareDx during the 2nd quarter worth approximately $62,000. Federated Hermes Inc. lifted its stake in shares of CareDx by 7.4% during the 2nd quarter. Federated Hermes Inc. now owns 37,003 shares of the company’s stock worth $575,000 after acquiring an additional 2,536 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in CareDx during the 2nd quarter valued at $142,000. Finally, American Century Companies Inc. grew its position in CareDx by 11.5% in the 2nd quarter. American Century Companies Inc. now owns 108,366 shares of the company’s stock valued at $1,683,000 after acquiring an additional 11,168 shares during the last quarter.

CareDx Stock Down 0.4 %

Shares of NASDAQ:CDNA opened at $29.70 on Monday. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of -8.68 and a beta of 1.77. The firm has a 50 day moving average of $27.31 and a 200 day moving average of $17.69. CareDx, Inc has a 52 week low of $4.80 and a 52 week high of $34.84.

CareDx (NASDAQ:CDNA) last released its quarterly earnings results on Wednesday, July 31st. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.37. CareDx had a negative net margin of 53.73% and a negative return on equity of 53.65%. The business had revenue of $92.27 million during the quarter, compared to analyst estimates of $67.20 million. On average, sell-side analysts expect that CareDx, Inc will post -0.84 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. BTIG Research raised shares of CareDx from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Monday, August 19th. HC Wainwright restated a “neutral” rating on shares of CareDx in a research note on Thursday, August 1st. Craig Hallum lifted their price target on shares of CareDx from $22.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company assumed coverage on CareDx in a research note on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 price objective on the stock. Finally, StockNews.com raised CareDx from a “hold” rating to a “buy” rating in a research report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, CareDx has an average rating of “Moderate Buy” and a consensus price target of $28.80.

Insiders Place Their Bets

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

CareDx 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.