Dynamic Technology Lab Private Ltd Makes New $681,000 Investment in CareDx, Inc (NASDAQ:CDNA)

Dynamic Technology Lab Private Ltd bought a new position in shares of CareDx, Inc (NASDAQ:CDNA - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 21,818 shares of the company's stock, valued at approximately $681,000.

A number of other institutional investors have also recently modified their holdings of the business. Renaissance Technologies LLC increased its holdings in CareDx by 6.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,512,700 shares of the company's stock worth $23,492,000 after acquiring an additional 88,100 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of CareDx by 868.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 204,987 shares of the company's stock worth $6,401,000 after purchasing an additional 183,823 shares in the last quarter. Vanguard Group Inc. raised its position in shares of CareDx by 4.4% during the 1st 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 during the last quarter. Driehaus Capital Management LLC purchased a new position in CareDx in the 2nd quarter valued at about $2,852,000. Finally, Hanseatic Management Services Inc. acquired a new stake in CareDx in the 3rd quarter worth about $781,000.

Wall Street Analyst Weigh In

CDNA has been the topic of several research reports. Craig Hallum raised their target price on CareDx from $22.00 to $32.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. BTIG Research lowered their target price on shares of CareDx from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, November 5th. HC Wainwright reiterated a "neutral" rating on shares of CareDx in a research report on Tuesday, October 22nd. Wells Fargo & Company initiated coverage on shares of CareDx in a research note on Tuesday, August 27th. They issued an "underweight" rating and a $28.00 price target on the stock. Finally, The Goldman Sachs Group increased their price objective on shares of CareDx from $26.00 to $35.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $29.60.

CareDx Price Performance

Shares of CDNA traded down $0.37 during mid-day trading on Friday, reaching $24.54. The stock had a trading volume of 274,852 shares, compared to its average volume of 894,753. CareDx, Inc has a 52-week low of $7.42 and a 52-week high of $34.84. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of -9.09 and a beta of 1.80. The business's fifty day moving average is $25.55 and its 200 day moving average is $22.49.

CareDx (NASDAQ:CDNA - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.25) by $0.11. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The business had revenue of $82.88 million during the quarter, compared to the consensus estimate of $80.04 million. During the same quarter last year, the firm earned ($0.43) EPS. The business's revenue was up 23.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that CareDx, Inc will post -0.7 EPS 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.