Jacobs Levy Equity Management Inc. Purchases 92,363 Shares of CareDx, Inc (NASDAQ:CDNA)

Jacobs Levy Equity Management Inc. lifted its stake in shares of CareDx, Inc (NASDAQ:CDNA) by 8.7% during the 1st quarter, HoldingsChannel reports. The firm owned 1,150,972 shares of the company’s stock after acquiring an additional 92,363 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in CareDx were worth $12,189,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Headlands Technologies LLC bought a new stake in shares of CareDx during the fourth quarter worth $50,000. Nisa Investment Advisors LLC boosted its holdings in shares of CareDx by 442.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,440 shares of the company’s stock valued at $77,000 after acquiring an additional 5,253 shares in the last quarter. Quest Partners LLC bought a new stake in CareDx during the 4th quarter worth $117,000. Cetera Trust Company N.A acquired a new stake in shares of CareDx during the fourth quarter valued at about $142,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of CareDx by 10,267.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 18,661 shares of the company’s stock valued at $198,000 after buying an additional 18,481 shares during the period.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CDNA. The Goldman Sachs Group boosted their price target on shares of CareDx from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. StockNews.com downgraded CareDx from a “buy” rating to a “hold” rating in a research note on Friday, July 5th. Craig Hallum raised their target price on CareDx from $15.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Stephens boosted their target price on shares of CareDx from $15.00 to $18.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Finally, HC Wainwright restated a “neutral” rating on shares of CareDx in a report on Friday, May 31st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

CareDx Stock Up 2.1 %

CDNA traded up $0.39 during trading on Wednesday, hitting $19.15. 331,599 shares of the company’s stock were exchanged, compared to its average volume of 857,423. The stock has a market cap of $997.33 million, a P/E ratio of -5.49 and a beta of 1.78. The business’s 50 day moving average is $15.62 and its two-hundred day moving average is $11.97. CareDx, Inc has a fifty-two week low of $4.80 and a fifty-two week high of $19.58.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.18. The firm had revenue of $72.05 million during the quarter, compared to the consensus estimate of $63.63 million. CareDx had a negative return on equity of 55.08% and a negative net margin of 66.59%. On average, sell-side analysts forecast that CareDx, Inc will post -1.49 earnings per share for the current year.

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.