Renaissance Technologies LLC Buys 196,298 Shares of CareDx, Inc (NASDAQ:CDNA)

Renaissance Technologies LLC lifted its holdings in shares of CareDx, Inc (NASDAQ:CDNA - Free Report) by 15.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,432,198 shares of the company's stock after purchasing an additional 196,298 shares during the quarter. Renaissance Technologies LLC owned 2.67% of CareDx worth $30,663,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in CDNA. Quarry LP acquired a new position in CareDx in the third quarter valued at about $27,000. Plato Investment Management Ltd raised its position in shares of CareDx by 34.1% in the 4th quarter. Plato Investment Management Ltd now owns 5,390 shares of the company's stock valued at $116,000 after buying an additional 1,370 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in shares of CareDx by 41.5% during the 4th quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 9,343 shares of the company's stock worth $200,000 after acquiring an additional 2,742 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of CareDx during the 4th quarter worth approximately $208,000. Finally, Cornercap Investment Counsel Inc. bought a new position in CareDx in the fourth quarter valued at approximately $214,000.

CareDx Price Performance

Shares of CDNA traded down $0.40 during midday trading on Thursday, hitting $17.82. 164,626 shares of the company traded hands, compared to its average volume of 818,855. The stock has a 50-day moving average of $19.98 and a 200-day moving average of $22.56. The firm has a market cap of $987.69 million, a P/E ratio of -6.60 and a beta of 2.18. CareDx, Inc has a one year low of $7.42 and a one year high of $34.84.

CareDx (NASDAQ:CDNA - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The company reported $1.51 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $1.46. The firm had revenue of $86.58 million during the quarter, compared to analyst estimates 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 forecast that CareDx, Inc will post -0.9 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.