Sumitomo Mitsui Trust Group Inc. Sells 922,334 Shares of CareDx, Inc (NASDAQ:CDNA)

Sumitomo Mitsui Trust Group Inc. lessened its holdings in CareDx, Inc (NASDAQ:CDNA) by 35.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,653,927 shares of the company’s stock after selling 922,334 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 3.14% of CareDx worth $51,644,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Caxton Associates LP boosted its stake in shares of CareDx by 97.2% in the 1st quarter. Caxton Associates LP now owns 96,308 shares of the company’s stock valued at $1,020,000 after purchasing an additional 47,469 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of CareDx by 6.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,512,700 shares of the company’s stock valued at $23,492,000 after acquiring an additional 88,100 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of CareDx by 868.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 204,987 shares of the company’s stock valued at $6,401,000 after acquiring an additional 183,823 shares during the period. Bamco Inc. NY acquired a new stake in shares of CareDx in the 1st quarter valued at approximately $13,025,000. Finally, Vanguard Group Inc. raised its position in shares of CareDx by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 4,300,016 shares of the company’s stock valued at $45,537,000 after acquiring an additional 180,334 shares during the period.

Analysts Set New Price Targets

CDNA has been the topic of a number of analyst reports. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. HC Wainwright restated a “neutral” rating on shares of CareDx in a report on Tuesday, October 22nd. Wells Fargo & Company started coverage on shares of CareDx in a report on Tuesday, August 27th. They set an “underweight” rating and a $28.00 target price on the stock. BTIG Research dropped their target price on shares of CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, Craig Hallum raised their target price on shares of CareDx from $22.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.60.

Insider Activity at CareDx

In other CareDx news, Director Peter Maag sold 35,552 shares of CareDx stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $33.04, for a total transaction of $1,174,638.08. Following the completion of the transaction, the director now directly owns 330,024 shares of the company’s stock, valued at $10,903,992.96. The trade was a 9.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alexander L. Johnson sold 34,231 shares of CareDx stock in a transaction on Monday, August 19th. The stock was sold at an average price of $33.55, for a total transaction of $1,148,450.05. Following the transaction, the insider now directly owns 284,983 shares of the company’s stock, valued at approximately $9,561,179.65. This trade represents a 10.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 91,340 shares of company stock valued at $3,025,415. 4.90% of the stock is owned by corporate insiders.

CareDx Stock Down 1.8 %

NASDAQ CDNA opened at $21.17 on Friday. CareDx, Inc has a 12-month low of $7.42 and a 12-month high of $34.84. The company has a market capitalization of $1.14 billion, a PE ratio of -7.84 and a beta of 1.80. The firm’s 50 day moving average is $26.68 and its 200-day moving average is $21.61.

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

About CareDx

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.