Intrinsic Edge Capital Management LLC Purchases New Holdings in CareDx, Inc (NASDAQ:CDNA)

Intrinsic Edge Capital Management LLC acquired a new stake in shares of CareDx, Inc (NASDAQ:CDNA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 255,000 shares of the company’s stock, valued at approximately $5,460,000. Intrinsic Edge Capital Management LLC owned approximately 0.48% of CareDx as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sterling Capital Management LLC grew its position in shares of CareDx by 771.2% during the fourth quarter. Sterling Capital Management LLC now owns 1,272 shares of the company’s stock worth $27,000 after buying an additional 1,126 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in CareDx by 553.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company’s stock valued at $84,000 after acquiring an additional 3,322 shares during the last quarter. Plato Investment Management Ltd boosted its stake in CareDx by 34.1% during the 4th quarter. Plato Investment Management Ltd now owns 5,390 shares of the company’s stock valued at $116,000 after acquiring an additional 1,370 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in CareDx by 41.5% during the 4th quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 9,343 shares of the company’s stock worth $200,000 after acquiring an additional 2,742 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of CareDx in the 4th quarter worth about $208,000.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CDNA shares. Stephens reaffirmed an “overweight” rating and set a $40.00 price target on shares of CareDx in a research report on Thursday, February 27th. Wells Fargo & Company upgraded CareDx from an “underweight” rating to an “equal weight” rating and decreased their target price for the stock from $28.00 to $24.00 in a research report on Wednesday, January 15th. HC Wainwright lowered their price target on CareDx from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group decreased their target price on CareDx from $34.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, CareDx has a consensus rating of “Moderate Buy” and an average price target of $30.33.

CareDx Stock Down 0.1 %

CareDx stock opened at $18.48 on Friday. The firm has a 50-day moving average price of $19.07 and a two-hundred day moving average price of $21.91. CareDx, Inc has a 52-week low of $7.42 and a 52-week high of $34.84. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -6.84 and a beta of 2.18.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data 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. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The business had revenue of $86.58 million during the quarter, compared to analyst estimates of $84.56 million. Research analysts expect that CareDx, Inc will post -0.9 earnings per share for the current 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.