ARS Investment Partners LLC Has $2.18 Million Holdings in CareDx, Inc (NASDAQ:CDNA)

ARS Investment Partners LLC lifted its stake in CareDx, Inc (NASDAQ:CDNA) by 6.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 101,968 shares of the company’s stock after purchasing an additional 6,083 shares during the quarter. ARS Investment Partners LLC owned 0.19% of CareDx worth $2,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Quarry LP purchased a new position in CareDx in the third quarter valued at about $27,000. Harvest Fund Management Co. Ltd bought a new stake in shares of CareDx in the 3rd quarter valued at approximately $52,000. KBC Group NV acquired a new position in CareDx in the third quarter worth approximately $99,000. nVerses Capital LLC raised its position in CareDx by 175.0% during the third quarter. nVerses Capital LLC now owns 3,300 shares of the company’s stock valued at $103,000 after acquiring an additional 2,100 shares in the last quarter. Finally, Quest Partners LLC raised its position in CareDx by 37.8% during the third quarter. Quest Partners LLC now owns 5,611 shares of the company’s stock valued at $175,000 after acquiring an additional 1,540 shares in the last quarter.

CareDx Price Performance

Shares of CareDx stock opened at $21.44 on Tuesday. CareDx, Inc has a fifty-two week low of $7.42 and a fifty-two week high of $34.84. The firm has a fifty day moving average price of $22.86 and a two-hundred day moving average price of $24.64.

CareDx (NASDAQ:CDNA) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.11. The company had revenue of $82.88 million during the quarter, compared to the consensus estimate of $80.04 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The firm’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.43) EPS. As a group, analysts expect that CareDx, Inc will post -0.9 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. The Goldman Sachs Group increased their price target on shares of CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Wells Fargo & Company upgraded shares of CareDx from an “underweight” rating to an “equal weight” rating and dropped their price target for the stock from $28.00 to $24.00 in a research note on Wednesday, January 15th. BTIG Research decreased their price objective on shares of CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $26.00 price objective on shares of CareDx in a report on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $28.33.

Insider Transactions at CareDx

In related 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 completion of the sale, the director now owns 330,024 shares in the company, valued at $8,250,600. This trade represents a 1.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 4.90% of the stock is owned by insiders.

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.