Zurcher Kantonalbank Zurich Cantonalbank Boosts Holdings in CareDx, Inc (NASDAQ:CDNA)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of CareDx, Inc (NASDAQ:CDNA) by 376.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,631 shares of the company’s stock after purchasing an additional 9,192 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CareDx were worth $363,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CDNA. Royce & Associates LP increased its stake in CareDx by 0.3% during the 3rd quarter. Royce & Associates LP now owns 393,286 shares of the company’s stock worth $12,280,000 after buying an additional 1,000 shares in the last quarter. Quest Partners LLC increased its position in shares of 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 in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in CareDx in the 3rd quarter valued at $52,000. ClariVest Asset Management LLC lifted its holdings in CareDx by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 64,027 shares of the company’s stock valued at $994,000 after purchasing an additional 1,810 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of CareDx by 1,021.8% during the second quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock worth $34,000 after buying an additional 2,013 shares in the last quarter.

CareDx Stock Performance

CareDx stock opened at $25.04 on Monday. The company has a market capitalization of $1.34 billion, a PE ratio of -9.27 and a beta of 1.84. CareDx, Inc has a fifty-two week low of $7.42 and a fifty-two week high of $34.84. The firm has a 50 day moving average price of $25.18 and a 200 day moving average price of $22.95.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $80.04 million. During the same period in the previous year, the firm posted ($0.43) earnings per share. The company’s revenue was up 23.4% on a year-over-year basis. As a group, equities research analysts forecast that CareDx, Inc will post -0.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CDNA. 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. Wells Fargo & Company initiated coverage on CareDx in a report on Tuesday, August 27th. They set an “underweight” rating and a $28.00 price target on the stock. HC Wainwright restated a “neutral” rating on shares of CareDx in a research report on Tuesday, October 22nd. The Goldman Sachs Group boosted their target price on shares of CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, CareDx presently has a consensus rating of “Moderate Buy” and an average price target of $29.60.

Insider Transactions at CareDx

In other CareDx news, Director Peter Maag sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $25.00, for a total value of $125,000.00. Following the completion of the transaction, the director now owns 330,024 shares of the company’s stock, valued at $8,250,600. This trade represents a 1.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 4.90% of the company’s stock.

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.