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

Sumitomo Mitsui Trust Group Inc. boosted its holdings in CareDx, Inc. (NASDAQ:CDNA) by 2.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,475,126 shares of the company’s stock after purchasing an additional 28,510 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 2.88% of CareDx worth $25,608,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Quarry LP acquired a new stake in CareDx during the fourth quarter worth approximately $25,000. FNY Investment Advisers LLC acquired a new position in shares of CareDx in the 3rd quarter valued at $31,000. Meeder Asset Management Inc. purchased a new position in shares of CareDx in the 4th quarter valued at $79,000. Quantbot Technologies LP purchased a new position in shares of CareDx in the 3rd quarter valued at $89,000. Finally, CWM LLC raised its stake in CareDx by 119.1% during the 4th quarter. CWM LLC now owns 7,407 shares of the company’s stock worth $140,000 after acquiring an additional 4,026 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CDNA shares. Wall Street Zen upgraded shares of CareDx from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. BTIG Research lifted their target price on CareDx from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings raised CareDx from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, June 26th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $25.00.

Insider Buying and Selling at CareDx

In related news, Director Hannah Valantine sold 12,103 shares of CareDx stock in a transaction on Monday, June 15th. The shares were sold at an average price of $23.11, for a total value of $279,700.33. Following the transaction, the director directly owned 36,686 shares in the company, valued at $847,813.46. This trade represents a 24.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Walter Hanna, Jr. sold 39,900 shares of the business’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $29.24, for a total transaction of $1,166,676.00. Following the completion of the transaction, the chief executive officer directly owned 661,959 shares in the company, valued at $19,355,681.16. This represents a 5.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 89,218 shares of company stock valued at $2,310,864. Corporate insiders own 2.40% of the company’s stock.

CareDx Stock Performance

Shares of CDNA opened at $28.76 on Tuesday. CareDx, Inc. has a fifty-two week low of $10.96 and a fifty-two week high of $30.00. The firm has a 50-day simple moving average of $24.13 and a 200-day simple moving average of $20.85. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -179.75 and a beta of 2.43.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.11 by $0.23. CareDx had a negative return on equity of 2.65% and a negative net margin of 2.01%.The firm had revenue of $117.70 million during the quarter, compared to the consensus estimate of $102.03 million. During the same period in the prior year, the business earned $0.09 EPS. The firm’s revenue was up 39.3% compared to the same quarter last year. Equities research analysts forecast that CareDx, Inc. will post 0.22 EPS for the current year.

CareDx 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.