Meeder Asset Management Inc. Decreases Stake in CareDx, Inc (NASDAQ:CDNA)

Meeder Asset Management Inc. lessened its holdings in shares of CareDx, Inc (NASDAQ:CDNA) by 88.6% in the 3rd quarter, Holdings Channel reports. The fund owned 1,041 shares of the company’s stock after selling 8,086 shares during the quarter. Meeder Asset Management Inc.’s holdings in CareDx were worth $33,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CDNA. GAMMA Investing LLC grew its holdings in CareDx by 1,021.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock valued at $34,000 after buying an additional 2,013 shares in the last quarter. Plato Investment Management Ltd acquired a new position in shares of CareDx during the 2nd quarter valued at about $62,000. KBC Group NV purchased a new stake in shares of CareDx in the third quarter valued at about $99,000. nVerses Capital LLC grew its holdings in shares of CareDx by 175.0% in the third quarter. nVerses Capital LLC now owns 3,300 shares of the company’s stock valued at $103,000 after purchasing an additional 2,100 shares during the period. Finally, Quest Partners LLC increased its position in CareDx by 37.8% during the third quarter. Quest Partners LLC now owns 5,611 shares of the company’s stock worth $175,000 after purchasing an additional 1,540 shares during the last quarter.

CareDx Price Performance

NASDAQ CDNA opened at $22.52 on Friday. The company has a market cap of $1.21 billion, a P/E ratio of -8.34 and a beta of 1.80. CareDx, Inc has a 1-year low of $7.42 and a 1-year high of $34.84. The stock has a 50-day moving average of $26.31 and a two-hundred day moving average of $21.97.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.11. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The company had revenue of $82.88 million for the quarter, compared to the consensus estimate of $80.04 million. During the same quarter in the prior year, the business earned ($0.43) EPS. CareDx’s revenue was up 23.4% on a year-over-year basis. On average, analysts anticipate that CareDx, Inc will post -0.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CDNA. StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Wells Fargo & Company initiated coverage on CareDx in a research note on Tuesday, August 27th. They set an “underweight” rating and a $28.00 target price for the company. Craig Hallum upped their price target on CareDx from $22.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. The Goldman Sachs Group raised their price objective on CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, BTIG Research lowered 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. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.60.

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.