Sumitomo Mitsui Trust Group Inc. Has $32.07 Million Stock Position in CareDx, Inc (NASDAQ:CDNA)

Sumitomo Mitsui Trust Group Inc. lowered its holdings in shares of CareDx, Inc (NASDAQ:CDNA) by 9.4% in the fourth quarter, HoldingsChannel reports. The firm owned 1,498,018 shares of the company’s stock after selling 155,909 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in CareDx were worth $32,073,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Fred Alger Management LLC grew its holdings in CareDx by 30.8% in the 3rd quarter. Fred Alger Management LLC now owns 1,503,521 shares of the company’s stock valued at $46,947,000 after buying an additional 353,919 shares in the last quarter. Geode Capital Management LLC raised its stake in CareDx by 2.7% during the third quarter. Geode Capital Management LLC now owns 1,227,724 shares of the company’s stock worth $38,343,000 after acquiring an additional 32,141 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in CareDx by 78.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 696,893 shares of the company’s stock valued at $21,760,000 after purchasing an additional 306,222 shares during the last quarter. FMR LLC lifted its stake in shares of CareDx by 802.4% in the 3rd quarter. FMR LLC now owns 625,550 shares of the company’s stock valued at $19,533,000 after acquiring an additional 556,230 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of CareDx by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 499,480 shares of the company’s stock valued at $15,596,000 after purchasing an additional 13,547 shares in the last quarter.

Insiders Place Their Bets

In other news, Director Peter Maag sold 5,000 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $25.00, for a total value of $125,000.00. Following the transaction, the director now owns 330,024 shares of the company’s stock, valued at approximately $8,250,600. This represents a 1.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CDNA. The Goldman Sachs Group lifted their price target on shares of CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Wells Fargo & Company raised shares of CareDx from an “underweight” rating to an “equal weight” rating and cut their target price for the stock from $28.00 to $24.00 in a research note on Wednesday, January 15th. HC Wainwright restated a “neutral” rating and set a $26.00 price objective on shares of CareDx in a report on Tuesday, January 14th. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Finally, BTIG Research dropped their price objective on CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $28.33.

CareDx Price Performance

Shares of CDNA stock opened at $22.81 on Wednesday. CareDx, Inc has a 1 year low of $7.42 and a 1 year high of $34.84. The company’s fifty day simple moving average is $22.78 and its two-hundred day simple moving average is $25.27. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -8.45 and a beta of 1.87.

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.