Lord Abbett & CO. LLC Boosts Stock Holdings in CareDx, Inc (NASDAQ:CDNA)

Lord Abbett & CO. LLC lifted its holdings in CareDx, Inc (NASDAQ:CDNA - Free Report) by 8.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 378,524 shares of the company's stock after buying an additional 30,305 shares during the quarter. Lord Abbett & CO. LLC owned 0.71% of CareDx worth $8,104,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the company. Swiss National Bank increased its stake in shares of CareDx by 1.9% in the fourth quarter. Swiss National Bank now owns 98,600 shares of the company's stock worth $2,111,000 after buying an additional 1,800 shares during the last quarter. Barclays PLC lifted its holdings in CareDx by 123.8% in the 3rd quarter. Barclays PLC now owns 98,505 shares of the company's stock valued at $3,075,000 after acquiring an additional 54,482 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in CareDx by 59.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 327,343 shares of the company's stock valued at $7,008,000 after acquiring an additional 122,356 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in CareDx during the 4th quarter worth about $208,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of CareDx during the 3rd quarter valued at $557,000.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CDNA. 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 report on Wednesday, January 15th. StockNews.com raised shares of CareDx from a "hold" rating to a "buy" rating in a research note on Wednesday, February 26th. Stephens reiterated an "overweight" rating and issued a $40.00 price objective on shares of CareDx in a research report on Thursday, February 27th. HC Wainwright lowered their target price on CareDx from $26.00 to $25.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. Finally, The Goldman Sachs Group decreased their price objective 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 investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $30.33.

CareDx Trading Down 6.9 %

NASDAQ CDNA traded down $1.25 during trading on Wednesday, hitting $16.88. 2,014,328 shares of the company's stock were exchanged, compared to its average volume of 859,546. The stock's 50 day moving average price is $18.84 and its two-hundred day moving average price is $21.70. CareDx, Inc has a fifty-two week low of $8.43 and a fifty-two week high of $34.84. The company has a market cap of $935.59 million, a PE ratio of -6.25 and a beta of 2.18.

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