Next Century Growth Investors LLC Makes New Investment in CareDx, Inc (NASDAQ:CDNA)

Next Century Growth Investors LLC purchased a new position in CareDx, Inc (NASDAQ:CDNA - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 219,747 shares of the company's stock, valued at approximately $4,705,000. Next Century Growth Investors LLC owned about 0.41% of CareDx at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Sterling Capital Management LLC lifted its holdings in CareDx by 771.2% in the 4th quarter. Sterling Capital Management LLC now owns 1,272 shares of the company's stock worth $27,000 after purchasing an additional 1,126 shares during the last quarter. Family Office Research LLC acquired a new stake in shares of CareDx in the fourth quarter worth $1,925,000. Capital Fund Management S.A. bought a new stake in shares of CareDx during the 4th quarter worth $2,634,000. Raymond James Financial Inc. bought a new stake in shares of CareDx during the 4th quarter worth $3,694,000. Finally, Renaissance Technologies LLC grew its stake in CareDx by 15.9% in the 4th quarter. Renaissance Technologies LLC now owns 1,432,198 shares of the company's stock valued at $30,663,000 after buying an additional 196,298 shares during the last quarter.

CareDx Stock Performance

Shares of NASDAQ:CDNA traded up $0.26 during trading on Tuesday, hitting $19.16. 460,383 shares of the stock were exchanged, compared to its average volume of 857,220. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -7.10 and a beta of 2.18. CareDx, Inc has a 1-year low of $7.42 and a 1-year high of $34.84. The company's fifty day simple moving average is $20.13 and its 200-day simple moving average is $22.62.

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CareDx (NASDAQ:CDNA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $1.51 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $84.56 million. On average, research analysts forecast that CareDx, Inc will post -0.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

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