Alpha DNA Investment Management LLC Invests $472,000 in CareDx, Inc (NASDAQ:CDNA)

Alpha DNA Investment Management LLC acquired a new stake in CareDx, Inc (NASDAQ:CDNA) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 15,103 shares of the company’s stock, valued at approximately $472,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Algert Global LLC bought a new position in shares of CareDx in the third quarter valued at $892,000. Charles Schwab Investment Management Inc. raised its holdings in shares of CareDx by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 499,480 shares of the company’s stock valued at $15,596,000 after purchasing an additional 13,547 shares during the period. Intech Investment Management LLC acquired a new stake in CareDx in the 3rd quarter valued at about $449,000. Connor Clark & Lunn Investment Management Ltd. lifted 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 purchasing an additional 306,222 shares during the last quarter. Finally, Quest Partners LLC grew its holdings in CareDx by 37.8% during the third quarter. Quest Partners LLC now owns 5,611 shares of the company’s stock worth $175,000 after purchasing an additional 1,540 shares during the period.

CareDx Price Performance

CDNA stock opened at $23.13 on Monday. 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 $1.24 billion, a price-to-earnings ratio of -8.57 and a beta of 1.80. The business’s fifty day moving average price is $26.05 and its two-hundred day moving average price is $22.14.

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

Wall Street Analyst Weigh In

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

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.