JPMorgan Chase & Co. Purchases 173,776 Shares of CareDx, Inc (NASDAQ:CDNA)

JPMorgan Chase & Co. grew its holdings in CareDx, Inc (NASDAQ:CDNA - Free Report) by 720.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 197,912 shares of the company's stock after acquiring an additional 173,776 shares during the quarter. JPMorgan Chase & Co. owned 0.37% of CareDx worth $4,237,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Plato Investment Management Ltd boosted its position 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 acquiring an additional 1,370 shares during the period. KLP Kapitalforvaltning AS acquired a new position in CareDx in the fourth quarter valued at about $208,000. Inceptionr LLC acquired a new position in CareDx in the fourth quarter valued at about $240,000. Bradley & Co. Private Wealth Management LLC acquired a new position in CareDx in the fourth quarter valued at about $269,000. Finally, AlphaQuest LLC raised its stake in CareDx by 131.8% in the fourth quarter. AlphaQuest LLC now owns 13,004 shares of the company's stock valued at $278,000 after purchasing an additional 7,393 shares in the last quarter.

CareDx Stock Up 1.7 %

CDNA stock traded up $0.30 during midday trading on Thursday, reaching $18.14. 43,937 shares of the company's stock traded hands, compared to its average volume of 849,611. CareDx, Inc has a 52 week low of $7.42 and a 52 week high of $34.84. The company has a market cap of $1.01 billion, a price-to-earnings ratio of -6.70 and a beta of 2.18. The firm's fifty day moving average price is $19.31 and its 200-day moving average price is $22.10.

CareDx (NASDAQ:CDNA - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported $1.51 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $84.56 million. Analysts forecast that CareDx, Inc will post -0.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. StockNews.com raised CareDx from a "hold" rating to a "buy" rating in a research note on Wednesday, February 26th. Wells Fargo & Company raised CareDx from an "underweight" rating to an "equal weight" rating and dropped their price target for the company from $28.00 to $24.00 in a research note on Wednesday, January 15th. HC Wainwright reduced their price target on shares of CareDx from $26.00 to $25.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Stephens restated an "overweight" rating and issued a $40.00 target price on shares of CareDx in a research report on Thursday, February 27th. Finally, The Goldman Sachs Group cut their target price on shares of CareDx from $34.00 to $26.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $30.33.

About CareDx

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.