Algert Global LLC Invests $892,000 in CareDx, Inc (NASDAQ:CDNA)

Algert Global LLC bought a new stake in CareDx, Inc (NASDAQ:CDNA - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 28,580 shares of the company's stock, valued at approximately $892,000. Algert Global LLC owned about 0.05% of CareDx as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CDNA. GAMMA Investing LLC raised its position in shares of CareDx by 1,021.8% in the second quarter. GAMMA Investing LLC now owns 2,210 shares of the company's stock valued at $34,000 after purchasing an additional 2,013 shares during the period. KBC Group NV bought a new position in shares of CareDx in the third quarter valued at approximately $99,000. nVerses Capital LLC raised its position in shares of CareDx by 175.0% in the third quarter. nVerses Capital LLC now owns 3,300 shares of the company's stock valued at $103,000 after purchasing an additional 2,100 shares during the period. Plato Investment Management Ltd bought a new position in shares of CareDx in the second quarter valued at approximately $62,000. Finally, Quest Partners LLC raised its position in shares of CareDx by 37.8% in the third quarter. Quest Partners LLC now owns 5,611 shares of the company's stock valued at $175,000 after purchasing an additional 1,540 shares during the period.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. HC Wainwright reissued a "neutral" rating on shares of CareDx in a research report on Tuesday, October 22nd. The Goldman Sachs Group boosted their target price on shares of CareDx from $26.00 to $35.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. 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. StockNews.com raised shares of CareDx from a "hold" rating to a "buy" rating in a research report on Thursday, October 17th. Finally, Wells Fargo & Company started coverage on shares of CareDx in a research report on Tuesday, August 27th. They set an "underweight" rating and a $28.00 target price on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $29.60.

CareDx Stock Performance

Shares of NASDAQ:CDNA traded down $0.37 on Friday, hitting $24.54. The stock had a trading volume of 274,852 shares, compared to its average volume of 894,753. CareDx, Inc has a twelve month low of $7.42 and a twelve month high of $34.84. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of -9.09 and a beta of 1.80. The firm's 50 day moving average price is $25.55 and its 200-day moving average price is $22.49.

CareDx (NASDAQ:CDNA - Get Free Report) last posted 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. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The business had revenue of $82.88 million for the quarter, compared to analyst estimates of $80.04 million. During the same period in the previous year, the firm earned ($0.43) EPS. The firm's revenue was up 23.4% compared to the same quarter last year. As a group, sell-side analysts predict that CareDx, Inc will post -0.7 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.