Edgestream Partners L.P. Acquires Shares of 34,012 CareDx, Inc (NASDAQ:CDNA)

Edgestream Partners L.P. acquired a new stake in CareDx, Inc (NASDAQ:CDNA) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 34,012 shares of the company’s stock, valued at approximately $728,000.

Other large investors also recently modified their holdings of the company. Quarry LP purchased a new stake in shares of CareDx in the 3rd quarter valued at approximately $27,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of CareDx in the 3rd quarter valued at approximately $52,000. KBC Group NV purchased a new position in shares of CareDx in the 3rd quarter valued at $99,000. Plato Investment Management Ltd grew its position in shares of CareDx by 34.1% in the 4th quarter. Plato Investment Management Ltd now owns 5,390 shares of the company’s stock valued at $116,000 after buying an additional 1,370 shares during the last quarter. Finally, Quest Partners LLC grew its position in shares of CareDx by 37.8% in the 3rd quarter. Quest Partners LLC now owns 5,611 shares of the company’s stock valued at $175,000 after buying an additional 1,540 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

CareDx Price Performance

Shares of NASDAQ:CDNA opened at $18.92 on Thursday. The stock has a market cap of $1.05 billion, a P/E ratio of -7.01 and a beta of 1.95. The firm has a fifty day moving average price of $22.39 and a 200 day moving average price of $24.54. CareDx, Inc has a 1-year low of $7.42 and a 1-year high of $34.84.

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

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.