Sumitomo Mitsui Trust Group Inc. Raises Holdings in CareDx, Inc. $CDNA

Sumitomo Mitsui Trust Group Inc. grew its holdings in CareDx, Inc. (NASDAQ:CDNA) by 2.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,475,126 shares of the company’s stock after buying an additional 28,510 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in CareDx were worth $25,608,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP purchased a new position in CareDx in the fourth quarter worth $25,000. FNY Investment Advisers LLC purchased a new stake in shares of CareDx during the 3rd quarter worth $31,000. Meeder Asset Management Inc. purchased a new stake in shares of CareDx during the 4th quarter worth $79,000. Quantbot Technologies LP acquired a new position in shares of CareDx during the 3rd quarter worth $89,000. Finally, CWM LLC grew its stake in shares of CareDx by 119.1% during the 4th quarter. CWM LLC now owns 7,407 shares of the company’s stock worth $140,000 after purchasing an additional 4,026 shares during the period.

CareDx Stock Up 0.9%

Shares of CDNA stock opened at $28.76 on Tuesday. The stock has a market cap of $1.49 billion, a P/E ratio of -179.75 and a beta of 2.43. CareDx, Inc. has a fifty-two week low of $10.96 and a fifty-two week high of $30.00. The business has a fifty day simple moving average of $24.13 and a 200-day simple moving average of $20.85.

CareDx (NASDAQ:CDNA) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.11 by $0.23. The business had revenue of $117.70 million for the quarter, compared to analyst estimates of $102.03 million. CareDx had a negative net margin of 2.01% and a negative return on equity of 2.65%. The business’s revenue for the quarter was up 39.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.09 EPS. On average, sell-side analysts anticipate that CareDx, Inc. will post 0.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CDNA. Wall Street Zen upgraded shares of CareDx from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. Weiss Ratings upgraded shares of CareDx from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, June 26th. Finally, BTIG Research increased their target price on shares of CareDx from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $25.00.

Insider Transactions at CareDx

In other news, CEO John Walter Hanna, Jr. sold 39,900 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $19,355,681.16. This trade represents a 5.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hannah Valantine sold 12,103 shares of CareDx stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $23.11, for a total value of $279,700.33. Following the transaction, the director owned 36,686 shares of the company’s stock, valued at $847,813.46. This represents a 24.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 89,218 shares of company stock valued at $2,310,864. 2.40% of the stock is currently owned by company insiders.

CareDx Company 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.