Edgestream Partners L.P. Invests $728,000 in CareDx, Inc (NASDAQ:CDNA)

Edgestream Partners L.P. acquired a new stake in shares of CareDx, Inc (NASDAQ:CDNA) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 34,012 shares of the company’s stock, valued at approximately $728,000. Edgestream Partners L.P. owned approximately 0.06% of CareDx at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Quarry LP purchased a new stake in CareDx during the 3rd quarter valued at about $27,000. Harvest Fund Management Co. Ltd acquired a new position in CareDx in the 3rd quarter valued at about $52,000. KBC Group NV acquired a new position in CareDx in the 3rd quarter valued at about $99,000. Plato Investment Management Ltd boosted its holdings in CareDx by 34.1% in the 4th quarter. Plato Investment Management Ltd now owns 5,390 shares of the company’s stock valued at $116,000 after purchasing an additional 1,370 shares during the last quarter. Finally, Quest Partners LLC boosted its holdings in CareDx by 37.8% in the 3rd quarter. Quest Partners LLC now owns 5,611 shares of the company’s stock valued at $175,000 after purchasing an additional 1,540 shares during the last quarter.

CareDx Stock Up 2.8 %

CareDx stock opened at $18.92 on Thursday. The firm has a market cap of $1.05 billion, a PE ratio of -7.01 and a beta of 1.95. CareDx, Inc has a 52-week low of $7.42 and a 52-week high of $34.84. The company’s 50 day moving average is $22.39 and its two-hundred day moving average is $24.54.

CareDx (NASDAQ:CDNA) last released its earnings results on Wednesday, February 26th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $1.46. The company had revenue of $86.58 million for the quarter, compared to analyst estimates of $84.56 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. On average, equities research analysts anticipate that CareDx, Inc will post -0.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CDNA has been the topic of several recent analyst reports. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. Wells Fargo & Company upgraded shares of CareDx from an “underweight” rating to an “equal weight” rating and decreased their price objective for the stock from $28.00 to $24.00 in a report on Wednesday, January 15th. HC Wainwright decreased their price objective on shares of CareDx from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Finally, Stephens restated an “overweight” rating and issued a $40.00 price objective on shares of CareDx in a report on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, 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.