Sumitomo Mitsui Trust Group Inc. Reduces Stock Position in CareDx, Inc. $CDNA

Sumitomo Mitsui Trust Group Inc. cut its position in CareDx, Inc. (NASDAQ:CDNA) by 10.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,236,928 shares of the company’s stock after selling 139,826 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 2.22% of CareDx worth $24,170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Janney Montgomery Scott LLC purchased a new stake in CareDx in the 1st quarter worth approximately $375,000. Acadian Asset Management LLC lifted its stake in CareDx by 6.1% in the 1st quarter. Acadian Asset Management LLC now owns 359,303 shares of the company’s stock worth $6,373,000 after purchasing an additional 20,806 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its position in shares of CareDx by 67.8% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 53,527 shares of the company’s stock valued at $950,000 after buying an additional 21,627 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of CareDx during the 2nd quarter valued at $352,000. Finally, Strs Ohio purchased a new stake in shares of CareDx during the 1st quarter valued at $462,000.

CareDx Price Performance

NASDAQ:CDNA opened at $14.67 on Wednesday. CareDx, Inc. has a one year low of $10.96 and a one year high of $26.37. The company’s 50-day simple moving average is $14.19 and its 200 day simple moving average is $15.75. The firm has a market capitalization of $780.88 million, a P/E ratio of 14.38 and a beta of 2.37.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.28). The business had revenue of $90.51 million for the quarter, compared to the consensus estimate of $90.72 million. CareDx had a return on equity of 18.03% and a net margin of 17.97%.The company’s revenue was down 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 EPS. On average, equities research analysts expect that CareDx, Inc. will post -0.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Craig Hallum lowered their price objective on shares of CareDx from $40.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, July 18th. Weiss Ratings restated a “sell (d+)” rating on shares of CareDx in a research report on Wednesday, October 8th. BTIG Research restated a “buy” rating and set a $22.00 price objective on shares of CareDx in a research report on Tuesday, September 23rd. Wells Fargo & Company reduced their target price on shares of CareDx from $19.00 to $14.00 and set an “equal weight” rating on the stock in a report on Friday, August 8th. Finally, William Blair began coverage on shares of CareDx in a report on Tuesday, August 26th. They set a “market perform” rating on the stock. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $25.50.

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.