16,125 Shares in CareDx, Inc (NASDAQ:CDNA) Purchased by PDT Partners LLC

PDT Partners LLC acquired a new stake in CareDx, Inc (NASDAQ:CDNA) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 16,125 shares of the company’s stock, valued at approximately $504,000.

A number of other hedge funds have also added to or reduced their stakes in CDNA. Royce & Associates LP boosted its holdings 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 period. Quest Partners LLC increased its stake in shares of CareDx by 37.8% during the third quarter. Quest Partners LLC now owns 5,611 shares of the company’s stock valued at $175,000 after buying an additional 1,540 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in shares of CareDx during the third quarter valued at $52,000. ClariVest Asset Management LLC raised its holdings in shares of CareDx by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 64,027 shares of the company’s stock valued at $994,000 after acquiring an additional 1,810 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in CareDx by 1,021.8% in the second quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock worth $34,000 after acquiring an additional 2,013 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CDNA shares. Wells Fargo & Company started coverage on shares of CareDx in a research report on Tuesday, August 27th. They set an “underweight” rating and a $28.00 target price on the stock. BTIG Research cut their price objective on shares of CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. The Goldman Sachs Group boosted their price objective on shares of CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. StockNews.com raised CareDx from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Finally, HC Wainwright reissued a “neutral” rating on shares of CareDx in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, CareDx presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.60.

CareDx Stock Up 4.5 %

Shares of CDNA opened at $25.64 on Tuesday. The company has a 50 day moving average of $25.51 and a two-hundred day moving average of $22.67. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -9.50 and a beta of 1.80. CareDx, Inc has a twelve month low of $7.42 and a twelve month high of $34.84.

CareDx (NASDAQ:CDNA) last announced its earnings results on Monday, November 4th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.11. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The firm had revenue of $82.88 million for the quarter, compared to the consensus estimate of $80.04 million. During the same period in the previous year, the business earned ($0.43) EPS. The firm’s revenue for the quarter was up 23.4% on a year-over-year basis. On average, sell-side analysts expect that CareDx, Inc will post -0.7 EPS for the current year.

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.