CareDx, Inc (NASDAQ:CDNA) Position Trimmed by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in CareDx, Inc (NASDAQ:CDNA - Free Report) by 4.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,874,899 shares of the company's stock after selling 149,604 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 5.31% of CareDx worth $34,499,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Kent Lake Capital LLC purchased a new stake in shares of CareDx during the 3rd quarter worth $9,628,000. State Street Corp increased its stake in shares of CareDx by 38.6% during the 2nd quarter. State Street Corp now owns 4,214,680 shares of the company's stock valued at $90,531,000 after acquiring an additional 1,174,094 shares during the last quarter. BlackRock Inc. increased its stake in shares of CareDx by 24.6% during the 2nd quarter. BlackRock Inc. now owns 5,439,512 shares of the company's stock valued at $46,236,000 after acquiring an additional 1,074,531 shares during the last quarter. Bellevue Group AG increased its stake in shares of CareDx by 57.6% during the 1st quarter. Bellevue Group AG now owns 2,311,176 shares of the company's stock valued at $85,490,000 after acquiring an additional 844,624 shares during the last quarter. Finally, ARK Investment Management LLC increased its stake in shares of CareDx by 7.7% during the 4th quarter. ARK Investment Management LLC now owns 7,194,722 shares of the company's stock valued at $86,337,000 after acquiring an additional 515,399 shares during the last quarter.

Analyst Upgrades and Downgrades

Separately, Stephens reaffirmed an "overweight" rating and set a $15.00 price objective on shares of CareDx in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, CareDx currently has a consensus rating of "Hold" and a consensus target price of $13.50.

CareDx Stock Performance

CDNA traded up $0.24 on Friday, reaching $8.31. 500,420 shares of the company's stock were exchanged, compared to its average volume of 596,666. The company's 50 day moving average is $9.66 and its 200-day moving average is $9.18. The company has a market cap of $430.29 million, a price-to-earnings ratio of -2.35 and a beta of 1.42. CareDx, Inc has a twelve month low of $4.80 and a twelve month high of $12.93.

CareDx (NASDAQ:CDNA - Get Free Report) last posted its earnings results on Wednesday, February 28th. The company reported ($2.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($1.97). The business had revenue of $65.57 million for the quarter, compared to analyst estimates of $63.66 million. CareDx had a negative return on equity of 51.40% and a negative net margin of 67.88%. The firm's revenue for the quarter was down 20.4% compared to the same quarter last year. During the same period last year, the company posted ($0.34) EPS. Sell-side analysts forecast that CareDx, Inc will post -1.59 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.