Inceptionr LLC Makes New Investment in CareDx, Inc (NASDAQ:CDNA)

Inceptionr LLC purchased a new position in shares of CareDx, Inc (NASDAQ:CDNA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,229 shares of the company’s stock, valued at approximately $240,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP acquired a new position in shares of CareDx in the third quarter valued at approximately $27,000. Thompson Davis & CO. Inc. grew its position in shares of CareDx by 6.3% in the fourth quarter. Thompson Davis & CO. Inc. now owns 16,050 shares of the company’s stock valued at $344,000 after purchasing an additional 950 shares during the last quarter. Royce & Associates LP grew its position in shares of CareDx by 0.3% in the third quarter. Royce & Associates LP now owns 393,286 shares of the company’s stock valued at $12,280,000 after purchasing an additional 1,000 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of CareDx by 6.5% in the fourth quarter. Principal Financial Group Inc. now owns 18,984 shares of the company’s stock valued at $406,000 after purchasing an additional 1,151 shares during the last quarter. Finally, Plato Investment Management Ltd grew its position in shares of CareDx by 34.1% in the fourth quarter. Plato Investment Management Ltd now owns 5,390 shares of the company’s stock valued at $116,000 after purchasing an additional 1,370 shares during the last quarter.

CareDx Price Performance

NASDAQ CDNA opened at $18.09 on Tuesday. The business has a fifty day moving average price of $22.50 and a two-hundred day moving average price of $24.67. CareDx, Inc has a fifty-two week low of $7.42 and a fifty-two week high of $34.84. The stock has a market capitalization of $1.00 billion, a PE ratio of -6.70 and a beta of 1.95.

CareDx (NASDAQ:CDNA) last released its earnings results on Wednesday, February 26th. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $0.05 by $1.46. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The firm had revenue of $86.58 million during the quarter, compared to analysts’ expectations of $84.56 million. As a group, sell-side analysts expect that CareDx, Inc will post -0.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

CDNA has been the topic of several research reports. Wells Fargo & Company raised CareDx from an “underweight” rating to an “equal weight” rating and decreased their target price for the company from $28.00 to $24.00 in a research report on Wednesday, January 15th. Stephens reissued an “overweight” rating and set a $40.00 price target on shares of CareDx in a research report on Thursday, February 27th. HC Wainwright reduced their price target on CareDx from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Finally, StockNews.com raised CareDx from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, CareDx has an average rating of “Moderate Buy” and a consensus target price of $31.83.

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.