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

Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in CareDx, Inc (NASDAQ:CDNA) by 4.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,874,899 shares of the company’s stock after selling 149,604 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.05% of CareDx worth $34,499,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CDNA. Kent Lake Capital LLC purchased a new stake in CareDx in the third quarter valued at $9,628,000. State Street Corp raised its position in shares of CareDx by 38.6% in the second quarter. State Street Corp now owns 4,214,680 shares of the company’s stock worth $90,531,000 after acquiring an additional 1,174,094 shares during the period. BlackRock Inc. raised its position in shares of CareDx by 24.6% in the second quarter. BlackRock Inc. now owns 5,439,512 shares of the company’s stock worth $46,236,000 after acquiring an additional 1,074,531 shares during the period. Bellevue Group AG raised its position in shares of CareDx by 57.6% in the first quarter. Bellevue Group AG now owns 2,311,176 shares of the company’s stock worth $85,490,000 after acquiring an additional 844,624 shares during the period. Finally, ARK Investment Management LLC raised its position in shares of CareDx by 7.7% in the fourth quarter. ARK Investment Management LLC now owns 7,194,722 shares of the company’s stock worth $86,337,000 after acquiring an additional 515,399 shares during the period.

CareDx Stock Up 3.0 %

CDNA opened at $8.31 on Friday. CareDx, Inc has a twelve month low of $4.80 and a twelve month high of $12.93. The company has a 50-day moving average price of $9.66 and a 200 day moving average price of $9.17. The company has a market cap of $430.29 million, a PE ratio of -2.35 and a beta of 1.42.

CareDx (NASDAQ:CDNA) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($2.21) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $63.66 million. During the same quarter last year, the company earned ($0.34) EPS. The firm’s revenue for the quarter was down 20.4% on a year-over-year basis. As a group, sell-side analysts expect that CareDx, Inc will post -1.59 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Stephens reiterated an “overweight” rating and issued a $15.00 price objective on shares of CareDx in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, CareDx has a consensus rating of “Hold” and an average price target of $13.50.

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.