Principal Financial Group Inc. Acquires New Position in CareDx, Inc (NASDAQ:CDNA)

Principal Financial Group Inc. bought a new position in shares of CareDx, Inc (NASDAQ:CDNA) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 17,833 shares of the company’s stock, valued at approximately $557,000.

Several other hedge funds have also made changes to their positions in the business. GAMMA Investing LLC grew its stake 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 purchasing an additional 2,013 shares in the last quarter. Plato Investment Management Ltd acquired a new position in shares of CareDx during the 2nd quarter worth about $62,000. nVerses Capital LLC boosted its position in shares of CareDx by 175.0% during the 3rd quarter. nVerses Capital LLC now owns 3,300 shares of the company’s stock worth $103,000 after acquiring an additional 2,100 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of CareDx during the 2nd quarter worth about $142,000. Finally, Creative Planning acquired a new position in shares of CareDx during the 3rd quarter worth about $204,000.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. HC Wainwright reaffirmed a “neutral” rating on shares of CareDx in a research report on Tuesday, October 22nd. Wells Fargo & Company assumed coverage on CareDx in a research report on Tuesday, August 27th. They set an “underweight” rating and a $28.00 price objective for the company. Craig Hallum upped their price objective on CareDx from $22.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. BTIG Research decreased their target price on CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Finally, StockNews.com raised CareDx from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.60.

CareDx Stock Up 2.4 %

Shares of NASDAQ CDNA opened at $23.13 on Monday. The business has a 50-day moving average price of $26.05 and a 200 day moving average price of $22.14. The stock has a market cap of $1.24 billion, a PE ratio of -8.57 and a beta of 1.80. CareDx, Inc has a 52-week low of $7.42 and a 52-week high of $34.84.

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

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.