Edgestream Partners L.P. Buys Shares of 34,012 CareDx, Inc (NASDAQ:CDNA)

Edgestream Partners L.P. bought a new position in CareDx, Inc (NASDAQ:CDNA - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 34,012 shares of the company's stock, valued at approximately $728,000. Edgestream Partners L.P. owned 0.06% of CareDx as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of CDNA. Quarry LP bought a new position in CareDx in the third quarter valued at $27,000. Thompson Davis & CO. Inc. grew its position in CareDx by 6.3% in the fourth quarter. Thompson Davis & CO. Inc. now owns 16,050 shares of the company's stock valued at $344,000 after purchasing an additional 950 shares in the last quarter. Royce & Associates LP grew its position in CareDx by 0.3% in the third quarter. Royce & Associates LP now owns 393,286 shares of the company's stock valued at $12,280,000 after purchasing an additional 1,000 shares in the last quarter. Principal Financial Group Inc. grew its position in CareDx by 6.5% in the fourth quarter. Principal Financial Group Inc. now owns 18,984 shares of the company's stock valued at $406,000 after purchasing an additional 1,151 shares in the last quarter. Finally, Plato Investment Management Ltd grew its position in 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 in the last quarter.

CareDx Price Performance

CareDx stock traded up $1.26 during midday trading on Friday, hitting $18.90. The company's stock had a trading volume of 877,361 shares, compared to its average volume of 837,004. CareDx, Inc has a 1-year low of $7.42 and a 1-year high of $34.84. The company has a 50-day moving average price of $22.24 and a two-hundred day moving average price of $24.35. The company has a market cap of $1.05 billion, a price-to-earnings ratio of -7.00 and a beta of 1.95.

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

Analyst Ratings Changes

A number of research firms recently weighed in on CDNA. StockNews.com raised shares of CareDx from a "hold" rating to a "buy" rating in a research report on Wednesday, February 26th. Wells Fargo & Company raised shares of CareDx from an "underweight" rating to an "equal weight" rating and decreased their price objective for the company from $28.00 to $24.00 in a research report on Wednesday, January 15th. Stephens reissued an "overweight" rating and issued a $40.00 price objective on shares of CareDx in a research report on Thursday, February 27th. Finally, HC Wainwright cut their target price on shares of CareDx from $26.00 to $25.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $31.83.

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.