State of New Jersey Common Pension Fund D bought a new stake in CareDx Inc (NASDAQ:CDNA) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 60,000 shares of the company’s stock, valued at approximately $1,357,000. State of New Jersey Common Pension Fund D owned about 0.14% of CareDx at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Aperio Group LLC bought a new stake in shares of CareDx in the second quarter valued at approximately $31,000. Stonebridge Capital Advisors LLC bought a new stake in CareDx during the second quarter worth $36,000. First Quadrant L P CA bought a new stake in CareDx during the second quarter worth $63,000. Meeder Asset Management Inc. lifted its stake in CareDx by 11.3% during the third quarter. Meeder Asset Management Inc. now owns 4,277 shares of the company’s stock worth $98,000 after purchasing an additional 433 shares during the last quarter. Finally, Atria Investments LLC bought a new stake in CareDx during the second quarter worth $160,000. 93.50% of the stock is currently owned by institutional investors.
Several research firms have weighed in on CDNA. Raymond James upped their target price on CareDx from $46.00 to $48.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. Zacks Investment Research cut CareDx from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. ValuEngine upgraded CareDx from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 31st. Craig Hallum started coverage on CareDx in a research note on Tuesday, October 1st. They issued a “buy” rating and a $48.00 price target for the company. Finally, BidaskClub cut CareDx from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. CareDx currently has a consensus rating of “Buy” and an average price target of $44.17.
Shares of CDNA traded up $0.36 during trading hours on Tuesday, reaching $21.35. The stock had a trading volume of 2,082 shares, compared to its average volume of 854,869. CareDx Inc has a 12 month low of $19.11 and a 12 month high of $41.27. The stock has a market capitalization of $878.00 million, a PE ratio of -16.30 and a beta of 0.99. The company’s 50-day moving average is $24.69 and its two-hundred day moving average is $29.10.
CareDx (NASDAQ:CDNA) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.01. The business had revenue of $33.80 million during the quarter, compared to the consensus estimate of $33.14 million. CareDx had a negative return on equity of 21.92% and a negative net margin of 18.25%. CareDx’s revenue was up 59.4% compared to the same quarter last year. On average, research analysts predict that CareDx Inc will post -0.58 EPS for the current year.
CareDx, Inc operates as a transplant diagnostics company,which discovers, develops, and commercializes diagnostic solutions. Its product includes AlloMap, AlloSure, and Laboratory products. The company was founded on December 21, 1998 and is headquartered in Brisbane, CA.
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