Nikko Asset Management Americas Inc. Trims Stock Holdings in CareDx, Inc (NASDAQ:CDNA)

Nikko Asset Management Americas Inc. reduced its position in CareDx, Inc (NASDAQ:CDNA) by 9.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,498,018 shares of the company’s stock after selling 154,741 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in CareDx were worth $32,013,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CDNA. Fred Alger Management LLC grew its position in shares of CareDx by 30.8% during the third quarter. Fred Alger Management LLC now owns 1,503,521 shares of the company’s stock worth $46,947,000 after buying an additional 353,919 shares in the last quarter. Geode Capital Management LLC lifted its stake in CareDx by 2.7% in the third quarter. Geode Capital Management LLC now owns 1,227,724 shares of the company’s stock valued at $38,343,000 after buying an additional 32,141 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in CareDx by 25.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 875,197 shares of the company’s stock valued at $18,738,000 after buying an additional 178,304 shares during the last quarter. FMR LLC raised its stake in shares of CareDx by 802.4% during the third quarter. FMR LLC now owns 625,550 shares of the company’s stock worth $19,533,000 after purchasing an additional 556,230 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of CareDx by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 511,922 shares of the company’s stock worth $10,960,000 after purchasing an additional 12,442 shares during the last quarter.

CareDx Stock Up 7.1 %

Shares of NASDAQ CDNA opened at $18.90 on Monday. CareDx, Inc has a 12 month low of $7.42 and a 12 month high of $34.84. The company has a market cap of $1.05 billion, a price-to-earnings ratio of -7.00 and a beta of 1.95. The business has a fifty day simple moving average of $22.24 and a 200-day simple moving average of $24.31.

CareDx (NASDAQ:CDNA) last issued its earnings results on Wednesday, February 26th. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $0.05 by $1.46. The company had revenue of $86.58 million for the quarter, compared to analyst estimates of $84.56 million. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. As a group, sell-side analysts expect that CareDx, Inc will post -0.9 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on CDNA. StockNews.com raised CareDx from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. HC Wainwright decreased their price objective on CareDx from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Stephens reiterated an “overweight” rating and set a $40.00 target price on shares of CareDx in a research report on Thursday, February 27th. Finally, Wells Fargo & Company upgraded CareDx from an “underweight” rating to an “equal weight” rating and cut their price objective for the stock from $28.00 to $24.00 in a report on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.83.

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.