UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in CareDx, Inc (NASDAQ:CDNA - Free Report) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 53,514 shares of the company's stock, valued at approximately $1,671,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.10% of CareDx as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in CDNA. Harvest Fund Management Co. Ltd purchased a new stake in CareDx during the 3rd quarter worth $52,000. Plato Investment Management Ltd bought a new stake in shares of CareDx during the 2nd quarter valued at about $62,000. KBC Group NV bought a new stake in shares of CareDx during the 3rd quarter valued at about $99,000. nVerses Capital LLC grew its position in shares of CareDx by 175.0% during the 3rd quarter. nVerses Capital LLC now owns 3,300 shares of the company's stock valued at $103,000 after buying an additional 2,100 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of CareDx during the 2nd quarter valued at about $142,000.
Analyst Upgrades and Downgrades
CDNA has been the subject of a number of recent research reports. Wells Fargo & Company initiated coverage on shares of CareDx in a research report on Tuesday, August 27th. They set an "underweight" rating and a $28.00 price objective for the company. The Goldman Sachs Group boosted their price objective on shares of CareDx from $26.00 to $35.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. HC Wainwright reaffirmed a "neutral" rating on shares of CareDx in a research report on Tuesday, October 22nd. BTIG Research reduced their target price on shares of CareDx from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, November 5th. Finally, StockNews.com raised shares of CareDx from a "hold" rating to a "buy" rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $29.60.
Check Out Our Latest Stock Report on CDNA
CareDx Stock Performance
Shares of NASDAQ CDNA traded down $0.73 during trading on Tuesday, reaching $22.14. The company had a trading volume of 695,281 shares, compared to its average volume of 883,572. CareDx, Inc has a 52 week low of $7.42 and a 52 week high of $34.84. The stock has a market cap of $1.19 billion, a PE ratio of -8.33 and a beta of 1.84. The business's 50 day moving average price is $24.29 and its 200-day moving average price is $23.31.
CareDx (NASDAQ:CDNA - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.25) by $0.11. The firm had revenue of $82.88 million during the quarter, compared to analysts' expectations of $80.04 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The business's revenue for the quarter was up 23.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.43) earnings per share. Equities analysts anticipate that CareDx, Inc will post -0.7 earnings per share for the current year.
Insiders Place Their Bets
In other CareDx news, Director Peter Maag sold 5,000 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $25.00, for a total transaction of $125,000.00. Following the sale, the director now directly owns 330,024 shares in the company, valued at $8,250,600. This represents a 1.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 4.90% of the company's stock.
About CareDx
(
Free Report)
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.
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