CareDx, Inc (NASDAQ:CDNA) Shares Acquired by AlphaQuest LLC

AlphaQuest LLC raised its holdings in shares of CareDx, Inc (NASDAQ:CDNA) by 131.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,004 shares of the company’s stock after buying an additional 7,393 shares during the period. AlphaQuest LLC’s holdings in CareDx were worth $278,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of CareDx in the 3rd quarter valued at $27,000. Thompson Davis & CO. Inc. raised its stake in CareDx by 6.3% during the 4th 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 period. Royce & Associates LP raised its stake in CareDx by 0.3% during the 3rd 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 period. Principal Financial Group Inc. boosted 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 worth $406,000 after buying an additional 1,151 shares during the period. Finally, Plato Investment Management Ltd grew its holdings in shares of CareDx by 34.1% during the fourth quarter. Plato Investment Management Ltd now owns 5,390 shares of the company’s stock valued at $116,000 after buying an additional 1,370 shares in the last quarter.

CareDx Price Performance

NASDAQ CDNA opened at $18.90 on Friday. The firm has a market cap of $1.05 billion, a P/E ratio of -7.00 and a beta of 1.95. The stock’s 50-day moving average is $22.24 and its two-hundred day moving average is $24.35. CareDx, Inc has a fifty-two week low of $7.42 and a fifty-two week high of $34.84.

CareDx (NASDAQ:CDNA) last posted 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 analyst estimates of $84.56 million. On average, equities analysts expect that CareDx, Inc will post -0.9 EPS for the current year.

Analysts Set New Price Targets

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

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.