Sumitomo Mitsui Trust Group Inc. Sells 155,909 Shares of CareDx, Inc (NASDAQ:CDNA)

Sumitomo Mitsui Trust Group Inc. decreased its position in CareDx, Inc (NASDAQ:CDNA - Free Report) by 9.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,498,018 shares of the company's stock after selling 155,909 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 2.79% of CareDx worth $32,073,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Quarry LP purchased a new stake in shares of CareDx during the third quarter worth $27,000. Harvest Fund Management Co. Ltd bought a new position in CareDx in the third quarter valued at $52,000. KBC Group NV bought a new position in CareDx in the third quarter valued at $99,000. nVerses Capital LLC boosted its position in CareDx by 175.0% during the third quarter. nVerses Capital LLC now owns 3,300 shares of the company's stock valued at $103,000 after buying an additional 2,100 shares during the period. Finally, Quest Partners LLC boosted its position in CareDx by 37.8% during the third quarter. Quest Partners LLC now owns 5,611 shares of the company's stock valued at $175,000 after buying an additional 1,540 shares during the period.

CareDx Trading Down 1.4 %

NASDAQ:CDNA traded down $0.34 during trading hours on Friday, reaching $24.50. The company had a trading volume of 787,320 shares, compared to its average volume of 786,407. CareDx, Inc has a 52 week low of $7.42 and a 52 week high of $34.84. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of -9.07 and a beta of 1.87. The firm's 50 day moving average price is $22.69 and its 200-day moving average price is $25.37.

Insiders Place Their Bets

In other news, Director Peter Maag sold 5,000 shares of CareDx stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $25.00, for a total transaction of $125,000.00. Following the transaction, the director now owns 330,024 shares in the company, valued at $8,250,600. This trade represents a 1.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. HC Wainwright reiterated a "neutral" rating and set a $26.00 target price on shares of CareDx in a report on Tuesday, January 14th. Wells Fargo & Company raised shares of CareDx from an "underweight" rating to an "equal weight" rating and decreased their target price for the company from $28.00 to $24.00 in a research note on Wednesday, January 15th. Finally, BTIG Research decreased their target price on shares of CareDx from $40.00 to $35.00 and set a "buy" rating for the company 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $28.33.

CareDx 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.