Renaissance Technologies LLC Boosts Stock Position in CareDx, Inc (NASDAQ:CDNA)

Renaissance Technologies LLC increased its stake in CareDx, Inc (NASDAQ:CDNA - Free Report) by 15.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,432,198 shares of the company's stock after acquiring an additional 196,298 shares during the period. Renaissance Technologies LLC owned approximately 2.67% of CareDx worth $30,663,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of CareDx by 7.1% during the fourth quarter. Vanguard Group Inc. now owns 4,859,732 shares of the company's stock worth $104,047,000 after buying an additional 323,554 shares during the period. Invesco Ltd. raised its holdings in shares of CareDx by 3.5% in the 4th quarter. Invesco Ltd. now owns 1,514,850 shares of the company's stock valued at $32,433,000 after purchasing an additional 51,160 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of CareDx by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,234,263 shares of the company's stock worth $26,432,000 after purchasing an additional 6,539 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in CareDx by 25.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 875,197 shares of the company's stock worth $18,738,000 after buying an additional 178,304 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in CareDx by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 511,922 shares of the company's stock valued at $10,960,000 after purchasing an additional 12,442 shares in the last quarter.

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Analyst Ratings Changes

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

CareDx Trading Down 4.9 %

Shares of NASDAQ CDNA traded down $0.94 during midday trading on Wednesday, reaching $18.22. 507,044 shares of the stock were exchanged, compared to its average volume of 855,831. The company has a market capitalization of $1.01 billion, a P/E ratio of -6.75 and a beta of 2.18. The stock has a 50 day moving average price of $20.06 and a 200-day moving average price of $22.59. CareDx, Inc has a 52-week low of $7.42 and a 52-week high of $34.84.

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