Harvest Fund Management Co. Ltd Invests $52,000 in CareDx, Inc (NASDAQ:CDNA)

Harvest Fund Management Co. Ltd acquired a new position in shares of CareDx, Inc (NASDAQ:CDNA) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,670 shares of the company’s stock, valued at approximately $52,000.

A number of other large investors have also added to or reduced their stakes in CDNA. Millennium Management LLC raised its stake in CareDx by 1,085.4% in the 2nd quarter. Millennium Management LLC now owns 2,140,909 shares of the company’s stock valued at $33,248,000 after acquiring an additional 1,960,308 shares during the period. Fred Alger Management LLC raised its stake in CareDx by 517.9% in the 2nd quarter. Fred Alger Management LLC now owns 1,149,602 shares of the company’s stock valued at $17,853,000 after acquiring an additional 963,554 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in CareDx by 78.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 696,893 shares of the company’s stock valued at $21,760,000 after acquiring an additional 306,222 shares during the period. Allspring Global Investments Holdings LLC raised its stake in CareDx by 868.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 204,987 shares of the company’s stock valued at $6,401,000 after acquiring an additional 183,823 shares during the period. Finally, Driehaus Capital Management LLC bought a new stake in CareDx in the 2nd quarter valued at $2,852,000.

Wall Street Analysts Forecast Growth

CDNA has been the topic of a number of research analyst reports. HC Wainwright restated a “neutral” rating on shares of CareDx in a research note on Tuesday, October 22nd. StockNews.com raised CareDx from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. BTIG Research decreased their price objective on 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 upped their price objective on CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Craig Hallum upped their price objective on CareDx from $22.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $29.60.

CareDx Stock Performance

CDNA opened at $24.91 on Thursday. The firm has a market cap of $1.34 billion, a P/E ratio of -9.23 and a beta of 1.80. CareDx, Inc has a 52-week low of $7.42 and a 52-week high of $34.84. The business’s fifty day moving average is $25.84 and its 200-day moving average is $22.39.

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

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.