Intrinsic Edge Capital Management LLC Makes New Investment in CareDx, Inc (NASDAQ:CDNA)

Intrinsic Edge Capital Management LLC purchased a new position in shares of CareDx, Inc (NASDAQ:CDNA - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CDNA. Sterling Capital Management LLC grew its stake in 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 raised its position in CareDx by 553.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company's stock valued at $84,000 after purchasing an additional 3,322 shares in the last quarter. Plato Investment Management Ltd lifted its stake in CareDx by 34.1% during the fourth quarter. Plato Investment Management Ltd now owns 5,390 shares of the company's stock worth $116,000 after purchasing an additional 1,370 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in shares of CareDx by 41.5% in the 4th quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 9,343 shares of the company's stock valued at $200,000 after purchasing an additional 2,742 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in CareDx in the fourth quarter valued at about $208,000.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CDNA shares. Stephens reiterated an "overweight" rating and set a $40.00 price target on shares of CareDx in a report on Thursday, February 27th. StockNews.com raised CareDx from a "hold" rating to a "buy" rating in a research note on Wednesday, February 26th. HC Wainwright cut their price target on CareDx from $26.00 to $25.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Wells Fargo & Company raised shares of CareDx from an "underweight" rating to an "equal weight" rating and cut their target price for the stock from $28.00 to $24.00 in a research note on Wednesday, January 15th. Finally, The Goldman Sachs Group decreased their price target on shares of CareDx from $34.00 to $26.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $30.33.

CareDx Trading Down 9.5 %

Shares of CDNA stock traded down $1.61 during trading hours on Thursday, reaching $15.27. The company's stock had a trading volume of 1,576,065 shares, compared to its average volume of 862,649. CareDx, Inc has a one year low of $8.43 and a one year high of $34.84. The stock has a market capitalization of $846.36 million, a P/E ratio of -5.63 and a beta of 2.18. The firm's fifty day simple moving average is $18.73 and its 200 day simple moving average is $21.66.

CareDx (NASDAQ:CDNA - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.03. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The firm had revenue of $84.69 million for the quarter, compared to analysts' expectations of $84.56 million. During the same quarter in the previous year, the business posted ($0.03) EPS. The company's quarterly revenue was up 17.6% on a year-over-year basis. As a group, equities research analysts forecast that CareDx, Inc will post -0.9 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.