CareDx, Inc (NASDAQ:CDNA) Shares Acquired by Fred Alger Management LLC

Fred Alger Management LLC boosted its holdings in CareDx, Inc (NASDAQ:CDNA - Free Report) by 30.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,503,521 shares of the company's stock after purchasing an additional 353,919 shares during the period. Fred Alger Management LLC owned about 2.80% of CareDx worth $46,947,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in shares of CareDx by 1,021.8% during the 2nd quarter. GAMMA Investing LLC now owns 2,210 shares of the company's stock valued at $34,000 after buying an additional 2,013 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in CareDx during the 3rd quarter valued at $52,000. Plato Investment Management Ltd acquired a new position in CareDx during the 2nd quarter worth $62,000. KBC Group NV bought a new stake in shares of CareDx in the 3rd quarter worth about $99,000. Finally, nVerses Capital LLC increased its position in shares of CareDx by 175.0% in the 3rd quarter. nVerses Capital LLC now owns 3,300 shares of the company's stock worth $103,000 after purchasing an additional 2,100 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts recently commented on CDNA shares. StockNews.com upgraded CareDx from a "hold" rating to a "buy" rating in a research note on Thursday, October 17th. HC Wainwright reiterated a "neutral" rating on shares of CareDx in a research report on Tuesday, October 22nd. The Goldman Sachs Group upped their price target on CareDx from $26.00 to $35.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Wells Fargo & Company started coverage on shares of CareDx in a research note on Tuesday, August 27th. They set an "underweight" rating and a $28.00 target price for the company. Finally, BTIG Research decreased their price target on shares of CareDx from $40.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $29.60.

CareDx Stock Performance

Shares of CDNA traded down $0.37 during midday trading on Friday, hitting $24.54. 274,852 shares of the stock traded hands, compared to its average volume of 894,753. The firm has a market capitalization of $1.32 billion, a PE ratio of -9.09 and a beta of 1.80. The business's 50 day moving average price is $25.55 and its two-hundred day moving average price is $22.49. CareDx, Inc has a 1-year low of $7.42 and a 1-year high of $34.84.

CareDx (NASDAQ:CDNA - Get Free Report) last posted its earnings results on Monday, November 4th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $82.88 million for the quarter, compared to analysts' expectations of $80.04 million. During the same period last 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, equities research analysts forecast that CareDx, Inc will post -0.7 EPS for the current fiscal 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.