Sumitomo Mitsui Trust Group Inc. Sells 121,264 Shares of CareDx, Inc. (NASDAQ:CDNA)

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of CareDx, Inc. (NASDAQ:CDNA - Free Report) by 8.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,376,754 shares of the company's stock after selling 121,264 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 2.48% of CareDx worth $24,437,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sterling Capital Management LLC grew its holdings in CareDx by 771.2% during the 4th quarter. Sterling Capital Management LLC now owns 1,272 shares of the company's stock worth $27,000 after acquiring an additional 1,126 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of CareDx by 553.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company's stock worth $84,000 after purchasing an additional 3,322 shares in the last quarter. State of Wyoming bought a new stake in shares of CareDx during the fourth quarter valued at approximately $91,000. Plato Investment Management Ltd increased its holdings in shares of CareDx by 34.1% in the fourth quarter. Plato Investment Management Ltd now owns 5,390 shares of the company's stock valued at $116,000 after purchasing an additional 1,370 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in CareDx by 41.5% in the 4th quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 9,343 shares of the company's stock worth $200,000 after purchasing an additional 2,742 shares during the last quarter.

CareDx Stock Down 1.5%

NASDAQ CDNA traded down $0.30 on Friday, reaching $19.20. The company had a trading volume of 309,715 shares, compared to its average volume of 920,232. CareDx, Inc. has a 52 week low of $14.09 and a 52 week high of $34.84. The stock's 50 day moving average is $17.78 and its 200-day moving average is $19.73. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 16.69 and a beta of 2.19.

CareDx (NASDAQ:CDNA - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.03. The company had revenue of $84.69 million during the quarter, compared to analysts' expectations of $84.56 million. CareDx had a return on equity of 21.16% and a net margin of 19.79%. CareDx's revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.03) EPS. As a group, analysts forecast that CareDx, Inc. will post -0.9 EPS for the current year.

Analyst Upgrades and Downgrades

CDNA has been the subject of several research reports. Wall Street Zen cut CareDx from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. The Goldman Sachs Group decreased their price target on CareDx from $34.00 to $26.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Stephens reissued an "overweight" rating and set a $40.00 price objective on shares of CareDx in a report on Monday, May 5th. Finally, HC Wainwright restated a "neutral" rating and set a $25.00 target price on shares of CareDx in a research report on Monday, May 5th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, CareDx has an average rating of "Moderate Buy" and a consensus price target of $30.33.

Insiders Place Their Bets

In related news, Director Christine Cournoyer sold 29,136 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $15.96, for a total transaction of $465,010.56. Following the completion of the sale, the director directly owned 37,045 shares of the company's stock, valued at approximately $591,238.20. This represents a 44.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter Maag sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $19.24, for a total transaction of $192,400.00. Following the completion of the transaction, the director owned 318,846 shares of the company's stock, valued at $6,134,597.04. This trade represents a 3.04% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 129,343 shares of company stock worth $2,238,811. 4.40% of the stock is owned by company insiders.

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.