CareDx, Inc (NASDAQ:CDNA) Stock Position Increased by Franklin Resources Inc.

Franklin Resources Inc. grew its position in CareDx, Inc (NASDAQ:CDNA - Free Report) by 91.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 113,859 shares of the company's stock after acquiring an additional 54,385 shares during the period. Franklin Resources Inc. owned about 0.21% of CareDx worth $2,438,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Plato Investment Management Ltd lifted its stake in shares of 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 during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in shares of CareDx by 41.5% during the 4th quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 9,343 shares of the company's stock worth $200,000 after acquiring an additional 2,742 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of CareDx in the 4th quarter worth approximately $208,000. Cornercap Investment Counsel Inc. purchased a new position in CareDx in the 4th quarter valued at approximately $214,000. Finally, Inceptionr LLC acquired a new position in CareDx during the fourth quarter worth $240,000.

Analysts Set New Price Targets

Several research analysts have recently issued reports 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 note on Thursday, February 27th. Wells Fargo & Company upgraded shares of CareDx from an "underweight" rating to an "equal weight" rating and lowered their price target for the stock from $28.00 to $24.00 in a report on Wednesday, January 15th. Finally, HC Wainwright decreased their price target on CareDx from $26.00 to $25.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $31.83.

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CareDx Stock Up 1.4 %

Shares of CareDx stock traded up $0.26 on Tuesday, hitting $19.16. 460,383 shares of the company's stock traded hands, compared to its average volume of 857,220. The stock has a market cap of $1.06 billion, a P/E ratio of -7.10 and a beta of 2.18. CareDx, Inc has a 52-week low of $7.42 and a 52-week high of $34.84. The firm's 50-day moving average is $20.13 and its 200 day moving average is $22.62.

CareDx (NASDAQ:CDNA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $84.56 million. Equities research analysts forecast that CareDx, Inc will post -0.9 EPS for the current year.

CareDx 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.