Trexquant Investment LP Raises Position in CareDx, Inc (NASDAQ:CDNA)

Trexquant Investment LP raised its stake in shares of CareDx, Inc (NASDAQ:CDNA - Free Report) by 60.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 333,876 shares of the company's stock after purchasing an additional 125,363 shares during the period. Trexquant Investment LP owned approximately 0.62% of CareDx worth $7,148,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of CareDx during the third quarter valued at approximately $27,000. Plato Investment Management Ltd grew its stake in shares of CareDx by 34.1% in the 4th quarter. Plato Investment Management Ltd now owns 5,390 shares of the company's stock worth $116,000 after acquiring an additional 1,370 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in shares of CareDx by 41.5% in the 4th quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 9,343 shares of the company's stock worth $200,000 after acquiring an additional 2,742 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of CareDx in the fourth quarter valued at about $208,000. Finally, Cornercap Investment Counsel Inc. bought a new position in shares of CareDx during the fourth quarter valued at about $214,000.

CareDx Price Performance

Shares of NASDAQ CDNA traded up $2.09 during trading on Wednesday, reaching $19.05. 981,399 shares of the stock traded hands, compared to its average volume of 856,103. The stock has a market capitalization of $1.06 billion, a P/E ratio of -7.06 and a beta of 2.18. CareDx, Inc has a 52-week low of $7.42 and a 52-week high of $34.84. The company has a 50-day moving average of $20.41 and a 200-day moving average of $22.88.

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CareDx (NASDAQ:CDNA - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $0.05 by $1.46. The business had revenue of $86.58 million for the quarter, compared to the consensus estimate of $84.56 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. Analysts expect that CareDx, Inc will post -0.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CDNA shares. StockNews.com upgraded shares of 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 decreased their price target for the company from $28.00 to $24.00 in a research report on Wednesday, January 15th. HC Wainwright cut their price objective 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, Stephens reaffirmed an "overweight" rating and set a $40.00 target price on shares of CareDx in a research report on Thursday, February 27th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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.