Intech Investment Management LLC Invests $449,000 in CareDx, Inc (NASDAQ:CDNA)

Intech Investment Management LLC purchased a new stake in shares of CareDx, Inc (NASDAQ:CDNA) in the third quarter, according to the company in its most recent filing with the SEC. The fund purchased 14,380 shares of the company’s stock, valued at approximately $449,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its stake in CareDx by 6.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,512,700 shares of the company’s stock valued at $23,492,000 after acquiring an additional 88,100 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of CareDx by 868.6% in the third 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 in the last quarter. Vanguard Group Inc. lifted its holdings in CareDx by 4.4% during the first quarter. Vanguard Group Inc. now owns 4,300,016 shares of the company’s stock worth $45,537,000 after acquiring an additional 180,334 shares during the period. Driehaus Capital Management LLC purchased a new position in CareDx in the second quarter worth $2,852,000. Finally, Hanseatic Management Services Inc. bought a new position in CareDx in the 3rd quarter valued at $781,000.

CareDx Stock Performance

NASDAQ CDNA opened at $25.64 on Tuesday. 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 cap of $1.38 billion, a P/E ratio of -9.50 and a beta of 1.80. The stock has a 50 day simple moving average of $25.51 and a two-hundred day simple moving average of $22.67.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.14) earnings per share for the quarter, beating 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 business had revenue of $82.88 million for the quarter, compared to analysts’ expectations of $80.04 million. During the same period in the previous year, the firm posted ($0.43) EPS. The business’s revenue was up 23.4% on a year-over-year basis. Sell-side analysts predict that CareDx, Inc will post -0.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CDNA. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Wells Fargo & Company began coverage on CareDx in a report on Tuesday, August 27th. They set an “underweight” rating and a $28.00 price objective for the company. The Goldman Sachs Group upped their price target on CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. BTIG Research lowered their price objective on CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Finally, HC Wainwright reiterated a “neutral” rating on shares of CareDx in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, CareDx presently has a consensus 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.