Royce & Associates LP Increases Stock Position in CareDx, Inc (NASDAQ:CDNA)

Royce & Associates LP boosted its position in CareDx, Inc (NASDAQ:CDNA) by 23.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 484,286 shares of the company’s stock after acquiring an additional 91,000 shares during the period. Royce & Associates LP’s holdings in CareDx were worth $10,369,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CDNA. Quarry LP purchased a new stake in shares of CareDx during the third quarter worth about $27,000. Harvest Fund Management Co. Ltd bought a new position in CareDx during the 3rd quarter valued at approximately $52,000. KBC Group NV purchased a new stake in CareDx in the 3rd quarter worth approximately $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 worth $116,000 after buying an additional 1,370 shares during the last quarter. Finally, Quest Partners LLC increased its stake in shares of CareDx by 37.8% during the third 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 period.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. StockNews.com raised CareDx from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. Stephens reaffirmed an “overweight” rating and issued a $40.00 target price on shares of CareDx in a research report on Thursday, February 27th. Wells Fargo & Company upgraded shares of CareDx from an “underweight” rating to an “equal weight” rating and reduced their price target for the company from $28.00 to $24.00 in a research report on Wednesday, January 15th. Finally, HC Wainwright lowered their price objective on shares of CareDx from $26.00 to $25.00 and set a “neutral” rating for the company in a 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 MarketBeat.com, CareDx currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.83.

CareDx Price Performance

Shares of NASDAQ CDNA opened at $19.27 on Tuesday. The stock has a market cap of $1.07 billion, a P/E ratio of -7.14 and a beta of 1.95. CareDx, Inc has a 1 year low of $7.42 and a 1 year high of $34.84. The firm has a 50-day moving average of $22.16 and a 200 day moving average of $24.22.

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