AlphaQuest LLC Purchases 7,393 Shares of CareDx, Inc (NASDAQ:CDNA)

AlphaQuest LLC raised its holdings in CareDx, Inc (NASDAQ:CDNA) by 131.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 13,004 shares of the company’s stock after purchasing an additional 7,393 shares during the period. AlphaQuest LLC’s holdings in CareDx were worth $278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Fred Alger Management LLC increased its stake in CareDx by 30.8% in the third quarter. Fred Alger Management LLC now owns 1,503,521 shares of the company’s stock valued at $46,947,000 after acquiring an additional 353,919 shares during the period. Geode Capital Management LLC grew its stake in shares of CareDx by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,227,724 shares of the company’s stock valued at $38,343,000 after purchasing an additional 32,141 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted 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 buying an additional 306,222 shares in the last quarter. FMR LLC raised its stake in CareDx by 802.4% during the third quarter. FMR LLC now owns 625,550 shares of the company’s stock worth $19,533,000 after acquiring an additional 556,230 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of CareDx by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 511,922 shares of the company’s stock valued at $10,960,000 after acquiring an additional 12,442 shares during the period.

CareDx Price Performance

Shares of NASDAQ:CDNA opened at $18.90 on Friday. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -7.00 and a beta of 1.95. The company has a 50 day moving average of $22.24 and a 200-day moving average of $24.35. CareDx, Inc has a one year low of $7.42 and a one year high of $34.84.

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. HC Wainwright decreased 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. Stephens reiterated an “overweight” rating and issued a $40.00 price objective on shares of CareDx in a research report on Thursday, February 27th. Finally, Wells Fargo & Company upgraded CareDx from an “underweight” rating to an “equal weight” rating and decreased their target price for the stock from $28.00 to $24.00 in a report on Wednesday, January 15th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.