Quest Partners LLC Acquires 1,540 Shares of CareDx, Inc (NASDAQ:CDNA)

Quest Partners LLC raised its holdings in shares of CareDx, Inc (NASDAQ:CDNA) by 37.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,611 shares of the company’s stock after acquiring an additional 1,540 shares during the quarter. Quest Partners LLC’s holdings in CareDx were worth $175,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of CareDx by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 4,300,016 shares of the company’s stock worth $45,537,000 after acquiring an additional 180,334 shares in the last quarter. Millennium Management LLC grew its stake in shares of CareDx by 1,085.4% during the 2nd quarter. Millennium Management LLC now owns 2,140,909 shares of the company’s stock worth $33,248,000 after acquiring an additional 1,960,308 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of CareDx by 6.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,512,700 shares of the company’s stock valued at $23,492,000 after buying an additional 88,100 shares during the last quarter. Fred Alger Management LLC boosted its holdings in shares of CareDx by 517.9% in the 2nd quarter. Fred Alger Management LLC now owns 1,149,602 shares of the company’s stock valued at $17,853,000 after buying an additional 963,554 shares during the last quarter. Finally, Royce & Associates LP boosted its holdings in shares of CareDx by 0.3% in the 3rd quarter. Royce & Associates LP now owns 393,286 shares of the company’s stock valued at $12,280,000 after buying an additional 1,000 shares during the last quarter.

CareDx Price Performance

Shares of CareDx stock opened at $24.91 on Thursday. The business has a fifty day simple moving average of $25.84 and a two-hundred day simple moving average of $22.39. CareDx, Inc has a 1 year low of $7.42 and a 1 year high of $34.84. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -9.30 and a beta of 1.80.

CareDx (NASDAQ:CDNA) last posted its earnings results on Monday, November 4th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $80.04 million. During the same quarter last year, the firm earned ($0.43) earnings per share. The company’s revenue was up 23.4% on a year-over-year basis. As a group, equities analysts anticipate that CareDx, Inc will post -0.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on CDNA shares. HC Wainwright reissued a “neutral” rating on shares of CareDx in a report on Tuesday, October 22nd. Craig Hallum increased their price objective on CareDx from $22.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, August 1st. The Goldman Sachs Group increased their price objective on CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. StockNews.com raised CareDx from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company started coverage on CareDx in a report on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.60.

CareDx Company 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.