Headlands Technologies LLC Makes New Investment in CareDx, Inc (NASDAQ:CDNA)

Headlands Technologies LLC bought a new position in shares of CareDx, Inc (NASDAQ:CDNA) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 4,206 shares of the company’s stock, valued at approximately $50,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Kent Lake Capital LLC bought a new stake in CareDx in the 3rd quarter valued at $9,628,000. ARK Investment Management LLC lifted its holdings in shares of CareDx by 7.7% in the fourth quarter. ARK Investment Management LLC now owns 7,194,722 shares of the company’s stock valued at $86,337,000 after purchasing an additional 515,399 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of CareDx by 62.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,124,114 shares of the company’s stock worth $7,869,000 after buying an additional 432,090 shares during the period. First Eagle Investment Management LLC grew its holdings in shares of CareDx by 38.7% during the third quarter. First Eagle Investment Management LLC now owns 1,005,189 shares of the company’s stock worth $7,036,000 after buying an additional 280,345 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in CareDx by 25.6% in the 3rd quarter. Acadian Asset Management LLC now owns 441,422 shares of the company’s stock valued at $3,088,000 after buying an additional 89,966 shares during the last quarter.

CareDx Stock Up 18.3 %

NASDAQ:CDNA opened at $9.18 on Thursday. CareDx, Inc has a twelve month low of $4.80 and a twelve month high of $12.93. The firm has a market capitalization of $475.34 million, a price-to-earnings ratio of -2.59 and a beta of 1.42. The stock’s 50 day moving average price is $9.62 and its two-hundred day moving average price is $9.28.

CareDx (NASDAQ:CDNA) last issued its earnings results on Wednesday, February 28th. The company reported ($2.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.97). CareDx had a negative return on equity of 51.40% and a negative net margin of 67.88%. The firm had revenue of $65.57 million for the quarter, compared to analyst estimates of $63.66 million. During the same quarter in the previous year, the firm posted ($0.34) earnings per share. CareDx’s quarterly revenue was down 20.4% on a year-over-year basis. As a group, analysts anticipate that CareDx, Inc will post -1.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CDNA. Stephens reaffirmed an “overweight” rating and set a $15.00 price target on shares of CareDx in a research report on Wednesday, April 17th. Craig Hallum raised shares of CareDx from a “hold” rating to a “buy” rating and raised their target price for the company from $12.00 to $15.00 in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, CareDx presently has an average rating of “Moderate Buy” and an average target price of $14.00.

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.