Cornercap Investment Counsel Inc. Acquires New Position in CareDx, Inc (NASDAQ:CDNA)

Cornercap Investment Counsel Inc. bought a new position in shares of CareDx, Inc (NASDAQ:CDNA) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 9,990 shares of the company’s stock, valued at approximately $214,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CDNA. Quarry LP acquired a new position in shares of CareDx during the 3rd quarter worth about $27,000. Plato Investment Management Ltd increased its stake in CareDx by 34.1% in the fourth quarter. Plato Investment Management Ltd now owns 5,390 shares of the company’s stock valued at $116,000 after purchasing an additional 1,370 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in CareDx by 41.5% in the fourth quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 9,343 shares of the company’s stock worth $200,000 after purchasing an additional 2,742 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of CareDx during the fourth quarter worth $208,000. Finally, Inceptionr LLC acquired a new position in shares of CareDx in the 4th quarter valued at $240,000.

Analysts Set New Price Targets

CDNA has been the topic of several research analyst reports. HC Wainwright dropped their price objective on CareDx from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. Stephens reissued an “overweight” rating and set a $40.00 price objective on shares of CareDx in a research report on Thursday, February 27th. Finally, Wells Fargo & Company upgraded shares of CareDx from an “underweight” rating to an “equal weight” rating and dropped their price objective for the stock from $28.00 to $24.00 in a report on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, CareDx has a consensus rating of “Moderate Buy” and a consensus price target of $31.83.

CareDx Trading Down 2.1 %

CareDx stock opened at $17.96 on Friday. The company has a fifty day simple moving average of $21.39 and a 200 day simple moving average of $23.64. CareDx, Inc has a 1-year low of $7.42 and a 1-year high of $34.84. The company has a market cap of $995.45 million, a P/E ratio of -6.65 and a beta of 1.95.

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