Alpha DNA Investment Management LLC Makes New $472,000 Investment in CareDx, Inc (NASDAQ:CDNA)

Alpha DNA Investment Management LLC purchased a new stake in shares of CareDx, Inc (NASDAQ:CDNA) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 15,103 shares of the company’s stock, valued at approximately $472,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in CareDx by 4.4% in the first quarter. Vanguard Group Inc. now owns 4,300,016 shares of the company’s stock worth $45,537,000 after purchasing an additional 180,334 shares in the last quarter. Millennium Management LLC boosted its stake in shares of CareDx by 1,085.4% during the 2nd quarter. Millennium Management LLC now owns 2,140,909 shares of the company’s stock worth $33,248,000 after acquiring an additional 1,960,308 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of CareDx by 6.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,512,700 shares of the company’s stock valued at $23,492,000 after acquiring an additional 88,100 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of CareDx by 8.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,150,972 shares of the company’s stock valued at $12,189,000 after acquiring an additional 92,363 shares in the last quarter. Finally, Fred Alger Management LLC lifted its holdings in CareDx by 517.9% in the 2nd quarter. Fred Alger Management LLC now owns 1,149,602 shares of the company’s stock worth $17,853,000 after purchasing an additional 963,554 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CDNA. StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. The Goldman Sachs Group lifted their target price on shares of CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Craig Hallum raised their price target on CareDx from $22.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. HC Wainwright reiterated a “neutral” rating on shares of CareDx in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company started coverage on CareDx in a research note on Tuesday, August 27th. They set an “underweight” rating and a $28.00 target price for the company. One 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 company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.60.

CareDx Price Performance

CDNA opened at $23.13 on Monday. The stock has a market capitalization of $1.24 billion, a P/E ratio of -8.57 and a beta of 1.80. The company’s 50 day simple moving average is $26.05 and its 200-day simple moving average is $22.14. CareDx, Inc has a one year low of $7.42 and a one year high of $34.84.

CareDx (NASDAQ:CDNA) last released its earnings results on Monday, November 4th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.11. The company 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 quarterly revenue was up 23.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.43) earnings per share. As a group, analysts anticipate that CareDx, Inc will post -0.7 EPS for the current year.

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.