Y Intercept Hong Kong Ltd Buys Shares of 19,474 CareDx, Inc. $CDNA

Y Intercept Hong Kong Ltd purchased a new position in CareDx, Inc. (NASDAQ:CDNA) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 19,474 shares of the company’s stock, valued at approximately $381,000.

A number of other large investors have also made changes to their positions in CDNA. Invesco Ltd. boosted its position in shares of CareDx by 76.1% in the 1st quarter. Invesco Ltd. now owns 2,667,861 shares of the company’s stock worth $47,355,000 after purchasing an additional 1,153,011 shares in the last quarter. Gagnon Securities LLC increased its position in CareDx by 8.9% during the 2nd quarter. Gagnon Securities LLC now owns 1,548,912 shares of the company’s stock valued at $30,266,000 after buying an additional 127,223 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in CareDx by 18.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,110,014 shares of the company’s stock valued at $19,703,000 after buying an additional 170,504 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in CareDx by 14.7% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,003,580 shares of the company’s stock worth $17,814,000 after acquiring an additional 128,383 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of CareDx by 89.9% during the first quarter. Russell Investments Group Ltd. now owns 594,851 shares of the company’s stock worth $10,559,000 after acquiring an additional 281,592 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CDNA. Craig Hallum cut their price objective on shares of CareDx from $40.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, July 18th. BTIG Research boosted their target price on shares of CareDx from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of CareDx in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of CareDx from a “sell” rating to a “buy” rating in a research note on Saturday. Finally, Wells Fargo & Company dropped their price objective on shares of CareDx from $19.00 to $14.00 and set an “equal weight” rating on the stock in a report on Friday, August 8th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $26.00.

CareDx Price Performance

CDNA stock opened at $15.62 on Friday. The firm’s fifty day simple moving average is $14.53 and its 200-day simple moving average is $15.60. The company has a market capitalization of $831.41 million, a P/E ratio of 15.31 and a beta of 2.50. CareDx, Inc. has a 12 month low of $10.96 and a 12 month high of $26.37.

CareDx (NASDAQ:CDNA) last issued its earnings results on Tuesday, November 4th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.10). The business had revenue of $100.06 million for the quarter, compared to analysts’ expectations of $95.25 million. CareDx had a return on equity of 18.03% and a net margin of 17.97%.The company’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period last year, the business earned ($0.14) EPS. CareDx has set its FY 2025 guidance at EPS. As a group, sell-side 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.