CareDx, Inc. $CDNA Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its stake in shares of CareDx, Inc. (NASDAQ:CDNA) by 16.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,446,616 shares of the company’s stock after selling 293,448 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in CareDx were worth $27,254,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FNY Investment Advisers LLC acquired a new position in CareDx during the 3rd quarter worth $31,000. State of Alaska Department of Revenue acquired a new position in CareDx during the 3rd quarter worth $43,000. Quantbot Technologies LP acquired a new position in CareDx during the 3rd quarter worth $89,000. Tower Research Capital LLC TRC grew its stake in CareDx by 120.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,608 shares of the company’s stock worth $149,000 after purchasing an additional 4,160 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in CareDx during the 3rd quarter worth $201,000.

Analyst Ratings Changes

Several research firms recently commented on CDNA. Weiss Ratings cut CareDx from a “hold (c-)” rating to a “sell (d)” rating in a research note on Friday, February 27th. Craig Hallum cut CareDx from a “buy” rating to a “hold” rating and set a $26.00 target price for the company. in a research note on Tuesday, January 6th. BTIG Research upped their price objective on CareDx from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Wall Street Zen cut CareDx from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Wells Fargo & Company upped their price objective on CareDx from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 25th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $27.60.

CareDx Stock Performance

NASDAQ:CDNA opened at $22.42 on Friday. The stock has a 50-day simple moving average of $18.25 and a 200-day simple moving average of $17.83. The stock has a market cap of $1.15 billion, a P/E ratio of -56.05 and a beta of 2.54. CareDx, Inc. has a 1 year low of $10.96 and a 1 year high of $22.81.

CareDx (NASDAQ:CDNA) last released its quarterly earnings data on Tuesday, February 24th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.12). The business had revenue of $108.39 million for the quarter, compared to analyst estimates of $102.76 million. CareDx had a negative return on equity of 6.50% and a negative net margin of 5.65%.The company’s revenue was up 25.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.18 earnings per share. On average, equities research analysts predict that CareDx, Inc. will post -0.9 EPS for the current year.

Insider Activity

In other news, CEO John Walter Hanna, Jr. sold 19,280 shares of the company’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $21.16, for a total transaction of $407,964.80. Following the completion of the transaction, the chief executive officer directly owned 597,405 shares of the company’s stock, valued at approximately $12,641,089.80. This represents a 3.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 4.40% of the company’s stock.

CareDx Company Profile

CareDx, Inc (NASDAQ: CDNA) is a precision diagnostics company focused on the care of transplant patients. The firm develops and commercializes non‐invasive tests designed to detect organ transplant rejection and infection risk, helping physicians make informed management decisions throughout the post‐transplant journey.

The company’s core product portfolio includes AlloMap®, a gene expression profiling test for heart transplant recipients, and AlloSure®, a donor‐derived cell‐free DNA assay used primarily in kidney transplant monitoring.