Harvest Fund Management Co. Ltd Acquires New Shares in CareDx, Inc (NASDAQ:CDNA)

Harvest Fund Management Co. Ltd acquired a new stake in CareDx, Inc (NASDAQ:CDNA) during the 3rd quarter, Holdings Channel reports. The fund acquired 1,670 shares of the company’s stock, valued at approximately $52,000.

Several other large investors have also bought and sold shares of the business. Dynamic Technology Lab Private Ltd acquired a new stake in CareDx in the third quarter valued at about $681,000. Alpha DNA Investment Management LLC acquired a new stake in CareDx in the third quarter valued at about $472,000. Algert Global LLC bought a new position in CareDx in the third quarter valued at about $892,000. Charles Schwab Investment Management Inc. raised its position in CareDx by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 499,480 shares of the company’s stock valued at $15,596,000 after purchasing an additional 13,547 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in CareDx in the third quarter valued at about $449,000.

Wall Street Analysts Forecast Growth

CDNA has been the subject of several research reports. StockNews.com upgraded CareDx from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Craig Hallum increased their target price on CareDx from $22.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. The Goldman Sachs Group increased their target price on CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Wells Fargo & Company initiated coverage on CareDx in a research report on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 target price for the company. Finally, BTIG Research dropped their target price on CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $29.60.

CareDx Price Performance

Shares of CDNA opened at $24.91 on Thursday. CareDx, Inc has a 1 year low of $7.42 and a 1 year high of $34.84. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -9.23 and a beta of 1.80. The business has a 50-day moving average of $25.84 and a 200-day moving average of $22.39.

CareDx (NASDAQ:CDNA) last released its earnings results on Monday, November 4th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.11. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The business had revenue of $82.88 million during the quarter, compared to analysts’ expectations of $80.04 million. During the same quarter last year, the firm posted ($0.43) earnings per share. The firm’s revenue was up 23.4% on a year-over-year basis. As a group, sell-side analysts anticipate that CareDx, Inc will post -0.7 EPS 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.