Sumitomo Mitsui Trust Holdings Inc. Cuts Holdings in CareDx, Inc (NASDAQ:CDNA)

Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in shares of CareDx, Inc (NASDAQ:CDNA) by 4.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,874,899 shares of the company’s stock after selling 149,604 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 5.31% of CareDx worth $34,499,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CDNA. Royal Bank of Canada boosted its stake in CareDx by 127.6% during the 2nd quarter. Royal Bank of Canada now owns 8,430 shares of the company’s stock valued at $71,000 after purchasing an additional 4,726 shares during the last quarter. WINTON GROUP Ltd bought a new position in shares of CareDx during the 3rd quarter valued at $72,000. Nisa Investment Advisors LLC lifted its holdings in shares of CareDx by 442.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,440 shares of the company’s stock valued at $77,000 after buying an additional 5,253 shares during the period. Tudor Investment Corp Et Al bought a new position in shares of CareDx during the 3rd quarter valued at $81,000. Finally, Hsbc Holdings PLC bought a new position in shares of CareDx during the 3rd quarter valued at $81,000.

Analyst Upgrades and Downgrades

Separately, Stephens reissued an “overweight” rating and set a $15.00 price target on shares of CareDx in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $13.50.

CareDx Price Performance

NASDAQ CDNA opened at $8.31 on Friday. The business’s fifty day moving average price is $9.66 and its 200-day moving average price is $9.17. The stock has a market capitalization of $430.29 million, a price-to-earnings ratio of -2.35 and a beta of 1.42. CareDx, Inc has a 1-year low of $4.80 and a 1-year high of $12.93.

CareDx (NASDAQ:CDNA) last announced its earnings results on Wednesday, February 28th. The company reported ($2.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.97). CareDx had a negative return on equity of 51.40% and a negative net margin of 67.88%. The company had revenue of $65.57 million during the quarter, compared to the consensus estimate of $63.66 million. During the same period in the prior year, the business posted ($0.34) earnings per share. CareDx’s revenue for the quarter was down 20.4% compared to the same quarter last year. Equities research analysts anticipate that CareDx, Inc will post -1.59 EPS for the current year.

CareDx Company 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.