CareDx, Inc (NASDAQ:CDNA) Shares Bought by Plato Investment Management Ltd

Plato Investment Management Ltd lifted its stake in shares of CareDx, Inc (NASDAQ:CDNA) by 34.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,390 shares of the company’s stock after purchasing an additional 1,370 shares during the period. Plato Investment Management Ltd’s holdings in CareDx were worth $116,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of CareDx during the 3rd quarter valued at $27,000. Harvest Fund Management Co. Ltd acquired a new stake in CareDx in the 3rd quarter valued at about $52,000. KBC Group NV bought a new position in shares of CareDx during the 3rd quarter valued at about $99,000. Quest Partners LLC raised its holdings in shares of CareDx by 37.8% in the 3rd quarter. Quest Partners LLC now owns 5,611 shares of the company’s stock worth $175,000 after purchasing an additional 1,540 shares in the last quarter. Finally, Creative Planning acquired a new stake in CareDx during the third quarter valued at approximately $204,000.

CareDx Stock Down 3.9 %

NASDAQ CDNA opened at $20.30 on Wednesday. The company has a 50 day moving average price of $22.70 and a two-hundred day moving average price of $25.14. CareDx, Inc has a 12-month low of $7.42 and a 12-month high of $34.84. The stock has a market capitalization of $1.09 billion, a PE ratio of -7.52 and a beta of 1.87.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CDNA. HC Wainwright decreased their target price on CareDx from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Monday. Stephens reissued an “overweight” rating and issued a $40.00 price target on shares of CareDx in a research note on Thursday, February 27th. Wells Fargo & Company raised shares of CareDx from an “underweight” rating to an “equal weight” rating and reduced their price objective for the company from $28.00 to $24.00 in a research note on Wednesday, January 15th. BTIG Research dropped their target price on shares of CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Finally, StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CareDx currently has an average rating of “Moderate Buy” and a consensus target price of $31.83.

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.