Hillsdale Investment Management Inc. Raises Stock Position in CareDx, Inc (NASDAQ:CDNA)

Hillsdale Investment Management Inc. raised its holdings in shares of CareDx, Inc (NASDAQ:CDNA - Free Report) by 30.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 177,980 shares of the company's stock after purchasing an additional 41,150 shares during the quarter. Hillsdale Investment Management Inc. owned approximately 0.33% of CareDx worth $3,811,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of CDNA. Quarry LP purchased a new stake in CareDx in the third quarter worth about $27,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of CareDx during the third quarter valued at approximately $52,000. KBC Group NV bought a new stake in shares of CareDx during the third quarter valued at approximately $99,000. Plato Investment Management Ltd lifted its position in CareDx by 34.1% in the 4th quarter. Plato Investment Management Ltd now owns 5,390 shares of the company's stock valued at $116,000 after acquiring an additional 1,370 shares in the last quarter. Finally, Quest Partners LLC increased its holdings in shares of CareDx by 37.8% in the 3rd quarter. Quest Partners LLC now owns 5,611 shares of the company's stock worth $175,000 after purchasing an additional 1,540 shares in the last quarter.

Wall Street Analyst Weigh In

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

Remove Ads

CareDx Price Performance

NASDAQ CDNA traded up $0.12 on Thursday, hitting $18.35. The company had a trading volume of 363,731 shares, compared to its average volume of 833,633. The company's fifty day moving average price is $21.54 and its 200-day moving average price is $23.78. CareDx, Inc has a 12-month low of $7.42 and a 12-month high of $34.84. The company has a market capitalization of $1.02 billion, a PE ratio of -6.80 and a beta of 1.95.

CareDx (NASDAQ:CDNA - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $86.58 million during the quarter, compared to analyst estimates of $84.56 million. On average, sell-side analysts anticipate 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.