Swiss National Bank Raises Stock Holdings in CareDx, Inc (NASDAQ:CDNA)

Swiss National Bank boosted its holdings in shares of CareDx, Inc (NASDAQ:CDNA) by 1.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 98,600 shares of the company’s stock after acquiring an additional 1,800 shares during the quarter. Swiss National Bank’s holdings in CareDx were worth $2,111,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CDNA. Quarry LP purchased a new stake in shares of CareDx during the third quarter valued at $27,000. Harvest Fund Management Co. Ltd purchased a new stake in CareDx in the 3rd quarter valued at about $52,000. Plato Investment Management Ltd boosted its position 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 buying an additional 1,370 shares during the period. Quest Partners LLC increased its position in shares of 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 acquiring an additional 1,540 shares during the period. Finally, Inceptionr LLC bought a new stake in shares of CareDx during the fourth quarter valued at approximately $240,000.

CareDx Stock Up 0.7 %

Shares of CareDx stock opened at $18.35 on Friday. The company has a market cap of $1.02 billion, a P/E ratio of -6.80 and a beta of 1.95. The firm’s 50 day moving average price is $21.46 and its 200-day moving average price is $23.74. CareDx, Inc has a 52-week low of $7.42 and a 52-week high of $34.84.

CareDx (NASDAQ:CDNA) last issued its quarterly 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 business had revenue of $86.58 million for the quarter, compared to the consensus estimate of $84.56 million. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. As a group, equities research analysts forecast that CareDx, Inc will post -0.9 EPS for the current fiscal year.

Analysts Set New Price Targets

CDNA has been the topic of several research reports. Wells Fargo & Company upgraded CareDx from an “underweight” rating to an “equal weight” rating and reduced their price objective for the stock from $28.00 to $24.00 in a report on Wednesday, January 15th. Stephens restated an “overweight” rating and issued a $40.00 price objective on shares of CareDx in a report on Thursday, February 27th. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. Finally, HC Wainwright reduced their price target on shares of CareDx from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.83.

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.