Arrowstreet Capital Limited Partnership Makes New $731,000 Investment in CareDx, Inc (NASDAQ:CDNA)

Arrowstreet Capital Limited Partnership bought a new stake in CareDx, Inc (NASDAQ:CDNA - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 34,162 shares of the company's stock, valued at approximately $731,000. Arrowstreet Capital Limited Partnership owned approximately 0.06% of CareDx as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of CDNA. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of CareDx during the 3rd quarter worth $1,671,000. Captrust Financial Advisors bought a new stake in shares of CareDx in the 3rd quarter worth approximately $271,000. Janus Henderson Group PLC purchased a new position in CareDx in the third quarter valued at approximately $684,000. XTX Topco Ltd bought a new position in CareDx during the third quarter valued at $497,000. Finally, Barclays PLC raised its stake in shares of CareDx by 123.8% in the third quarter. Barclays PLC now owns 98,505 shares of the company's stock valued at $3,075,000 after buying an additional 54,482 shares during the period.

CareDx Trading Down 2.8 %

Shares of NASDAQ:CDNA traded down $0.51 on Thursday, reaching $17.71. 84,427 shares of the company traded hands, compared to its average volume of 854,273. The stock has a market capitalization of $981.54 million, a P/E ratio of -6.57 and a beta of 2.18. CareDx, Inc has a 52 week low of $7.42 and a 52 week high of $34.84. The business's 50-day simple moving average is $19.98 and its 200 day simple moving average is $22.56.

CareDx (NASDAQ:CDNA - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $0.05 by $1.46. The business had revenue of $86.58 million during the quarter, compared to analysts' expectations of $84.56 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. Sell-side analysts expect that CareDx, Inc will post -0.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

CareDx Company 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.