Intrinsic Edge Capital Management LLC Invests $5.46 Million in CareDx, Inc (NASDAQ:CDNA)

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

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of CareDx by 7.1% during the fourth quarter. Vanguard Group Inc. now owns 4,859,732 shares of the company's stock worth $104,047,000 after purchasing an additional 323,554 shares in the last quarter. Invesco Ltd. increased its position in shares of CareDx by 3.5% during the fourth quarter. Invesco Ltd. now owns 1,514,850 shares of the company's stock worth $32,433,000 after purchasing an additional 51,160 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of CareDx by 15.9% during the fourth quarter. Renaissance Technologies LLC now owns 1,432,198 shares of the company's stock worth $30,663,000 after purchasing an additional 196,298 shares in the last quarter. Geode Capital Management LLC increased its position in shares of CareDx by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 1,234,263 shares of the company's stock worth $26,432,000 after purchasing an additional 6,539 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of CareDx by 25.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 875,197 shares of the company's stock worth $18,738,000 after purchasing an additional 178,304 shares in the last quarter.

Wall Street Analyst Weigh In

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

CareDx Trading Down 6.9 %

NASDAQ CDNA traded down $1.25 on Wednesday, reaching $16.88. 2,010,268 shares of the company were exchanged, compared to its average volume of 859,446. The business's fifty day moving average price is $18.84 and its 200 day moving average price is $21.70. The stock has a market capitalization of $935.59 million, a P/E ratio of -6.25 and a beta of 2.18. CareDx, Inc has a fifty-two week low of $7.74 and a fifty-two week high of $34.84.

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

CareDx 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.