Fred Alger Management LLC Purchases 353,919 Shares of CareDx, Inc (NASDAQ:CDNA)

Fred Alger Management LLC increased its stake in CareDx, Inc (NASDAQ:CDNA) by 30.8% in the third quarter, Holdings Channel reports. The firm owned 1,503,521 shares of the company’s stock after purchasing an additional 353,919 shares during the period. Fred Alger Management LLC’s holdings in CareDx were worth $46,947,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in CareDx by 1,021.8% in the 2nd 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. Harvest Fund Management Co. Ltd acquired a new stake in CareDx in the 3rd quarter worth approximately $52,000. Plato Investment Management Ltd acquired a new stake in CareDx in the 2nd quarter worth approximately $62,000. KBC Group NV acquired a new stake in CareDx in the 3rd quarter worth approximately $99,000. Finally, nVerses Capital LLC boosted its stake in CareDx by 175.0% in the 3rd quarter. nVerses Capital LLC now owns 3,300 shares of the company’s stock worth $103,000 after purchasing an additional 2,100 shares in the last quarter.

CareDx Stock Down 0.8 %

NASDAQ:CDNA opened at $24.91 on Friday. The company has a 50 day moving average price of $25.66 and a 200-day moving average price of $22.43. CareDx, Inc has a 1-year low of $7.42 and a 1-year high of $34.84.

CareDx (NASDAQ:CDNA) last posted its earnings results 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. The firm had revenue of $82.88 million during the quarter, compared to analyst estimates of $80.04 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The business’s quarterly revenue was up 23.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.43) EPS. Analysts forecast that CareDx, Inc will post -0.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CDNA has been the subject of a number of recent analyst reports. BTIG Research lowered their target price on shares of CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. HC Wainwright reissued a “neutral” rating on shares of CareDx in a research report on Tuesday, October 22nd. Wells Fargo & Company assumed coverage on shares of CareDx in a research report on Tuesday, August 27th. They set an “underweight” rating and a $28.00 price target for the company. StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Finally, Craig Hallum raised their price target on shares of CareDx from $22.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.