Swiss National Bank Raises Stock Holdings in CareDx, Inc (NASDAQ:CDNA)

Swiss National Bank grew its stake in shares of CareDx, Inc (NASDAQ:CDNA) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,600 shares of the company’s stock after buying an additional 1,800 shares during the period. Swiss National Bank owned 0.18% of CareDx worth $2,111,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in CareDx by 25.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 875,197 shares of the company’s stock valued at $18,738,000 after purchasing an additional 178,304 shares in the last quarter. AlphaQuest LLC lifted its stake in shares of CareDx by 131.8% during the 4th quarter. AlphaQuest LLC now owns 13,004 shares of the company’s stock valued at $278,000 after buying an additional 7,393 shares in the last quarter. Edgestream Partners L.P. bought a new position in CareDx in the 4th quarter worth $728,000. Inceptionr LLC purchased a new stake in CareDx in the 4th quarter worth $240,000. Finally, Raymond James Financial Inc. bought a new stake in CareDx during the fourth quarter valued at about $3,694,000.

CareDx Price Performance

Shares of CDNA stock opened at $18.35 on Friday. The company has a market cap of $1.02 billion, a PE ratio of -6.80 and a beta of 1.95. CareDx, Inc has a 1 year low of $7.42 and a 1 year high of $34.84. The stock’s 50 day simple moving average is $21.46 and its two-hundred day simple moving average is $23.74.

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

Analysts Set New Price Targets

A number of research analysts recently commented on CDNA shares. Wells Fargo & Company raised CareDx from an “underweight” rating to an “equal weight” rating and lowered their price target for the stock from $28.00 to $24.00 in a report on Wednesday, January 15th. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. Stephens reiterated an “overweight” rating and issued a $40.00 price target on shares of CareDx in a report on Thursday, February 27th. Finally, HC Wainwright reduced their target price on CareDx from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.83.

About CareDx

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.