Sumitomo Mitsui Trust Group Inc. Has $51.64 Million Holdings in CareDx, Inc (NASDAQ:CDNA)

Sumitomo Mitsui Trust Group Inc. lessened its stake in CareDx, Inc (NASDAQ:CDNA) by 35.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,653,927 shares of the company’s stock after selling 922,334 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in CareDx were worth $51,644,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC raised its stake in CareDx by 1,021.8% in the second quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock valued at $34,000 after purchasing an additional 2,013 shares in the last quarter. Plato Investment Management Ltd acquired a new position in CareDx during the second quarter worth about $62,000. nVerses Capital LLC raised its stake in CareDx by 175.0% during the third quarter. nVerses Capital LLC now owns 3,300 shares of the company’s stock worth $103,000 after acquiring an additional 2,100 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in CareDx during the second quarter worth about $142,000. Finally, Allspring Global Investments Holdings LLC raised its stake in CareDx by 10,267.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 18,661 shares of the company’s stock worth $198,000 after acquiring an additional 18,481 shares in the last quarter.

CareDx Price Performance

Shares of CDNA stock opened at $21.17 on Friday. The business’s 50 day simple moving average is $26.68 and its 200 day simple moving average is $21.61. CareDx, Inc has a one year low of $7.42 and a one year high of $34.84. The stock has a market capitalization of $1.14 billion, a PE ratio of -7.84 and a beta of 1.80.

CareDx (NASDAQ:CDNA) last announced its earnings results on Monday, November 4th. The company reported ($0.14) EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $80.04 million. During the same period in the prior year, the business posted ($0.43) earnings per share. The firm’s revenue was up 23.4% on a year-over-year basis. As a group, research analysts expect that CareDx, Inc will post -0.7 earnings per share for the current year.

Insider Activity at CareDx

In other CareDx news, Director Peter Maag sold 35,552 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $33.04, for a total transaction of $1,174,638.08. Following the transaction, the director now directly owns 330,024 shares in the company, valued at approximately $10,903,992.96. This represents a 9.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander L. Johnson sold 34,231 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $33.55, for a total value of $1,148,450.05. Following the transaction, the insider now owns 284,983 shares in the company, valued at $9,561,179.65. The trade was a 10.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 91,340 shares of company stock worth $3,025,415 over the last ninety days. Insiders own 4.90% of the company’s stock.

Wall Street Analyst Weigh In

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

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.