KBC Group NV Invests $99,000 in CareDx, Inc (NASDAQ:CDNA)

KBC Group NV acquired a new stake in CareDx, Inc (NASDAQ:CDNA) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,170 shares of the company’s stock, valued at approximately $99,000.

Other institutional investors have also bought and sold shares of the company. Millennium Management LLC increased its stake in shares of CareDx by 1,085.4% in the second quarter. Millennium Management LLC now owns 2,140,909 shares of the company’s stock worth $33,248,000 after purchasing an additional 1,960,308 shares in the last quarter. Bamco Inc. NY bought a new stake in CareDx during the 1st quarter valued at $13,025,000. Fred Alger Management LLC lifted its position in shares of CareDx by 517.9% during the second quarter. Fred Alger Management LLC now owns 1,149,602 shares of the company’s stock worth $17,853,000 after acquiring an additional 963,554 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of CareDx by 868.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 204,987 shares of the company’s stock valued at $6,401,000 after purchasing an additional 183,823 shares during the period. Finally, Driehaus Capital Management LLC bought a new stake in shares of CareDx during the 2nd quarter valued at $2,852,000.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. The Goldman Sachs Group upped their price target on shares of CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Wells Fargo & Company began coverage on CareDx in a research note on Tuesday, August 27th. They set an “underweight” rating and a $28.00 price objective for the company. HC Wainwright restated a “neutral” rating on shares of CareDx in a research note on Tuesday, October 22nd. Finally, BTIG Research dropped their price target on CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. One research 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.com, CareDx has a consensus rating of “Moderate Buy” and an average target price of $29.60.

CareDx Stock Up 2.4 %

NASDAQ CDNA opened at $23.13 on Friday. The stock’s 50-day simple moving average is $26.17 and its two-hundred day simple moving average is $21.97. CareDx, Inc has a twelve month low of $7.42 and a twelve month high of $34.84. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -8.34 and a beta of 1.80.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.11. The company had revenue of $82.88 million for the quarter, compared to analysts’ expectations of $80.04 million. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. CareDx’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.43) EPS. On average, equities analysts expect that CareDx, Inc will post -0.7 earnings per share for the current fiscal year.

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.