Nikko Asset Management Americas Inc. Sells 154,741 Shares of CareDx, Inc (NASDAQ:CDNA)

Nikko Asset Management Americas Inc. reduced its stake in CareDx, Inc (NASDAQ:CDNA) by 9.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,498,018 shares of the company’s stock after selling 154,741 shares during the quarter. Nikko Asset Management Americas Inc. owned about 2.79% of CareDx worth $32,013,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CDNA. Quarry LP acquired a new stake in shares of CareDx during the 3rd quarter worth approximately $27,000. Harvest Fund Management Co. Ltd bought a new position in CareDx during the third quarter worth $52,000. KBC Group NV bought a new position in CareDx during the third quarter worth $99,000. Plato Investment Management Ltd increased its stake in CareDx by 34.1% in the fourth quarter. Plato Investment Management Ltd now owns 5,390 shares of the company’s stock valued at $116,000 after purchasing an additional 1,370 shares in the last quarter. Finally, Quest Partners LLC increased its stake in CareDx by 37.8% in the third quarter. Quest Partners LLC now owns 5,611 shares of the company’s stock valued at $175,000 after purchasing an additional 1,540 shares in the last quarter.

Analyst Ratings Changes

Several research firms recently weighed in on CDNA. Stephens restated an “overweight” rating and set a $40.00 price target on shares of CareDx in a report on Thursday, February 27th. Wells Fargo & Company upgraded shares of CareDx from an “underweight” rating to an “equal weight” rating and dropped their target price for the company from $28.00 to $24.00 in a research note on Wednesday, January 15th. HC Wainwright lowered their price target on shares of CareDx from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Finally, StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $31.83.

CareDx Trading Up 7.1 %

NASDAQ CDNA opened at $18.90 on Monday. The company’s 50-day moving average price is $22.24 and its 200-day moving average price is $24.31. The stock has a market cap of $1.05 billion, a PE ratio of -7.00 and a beta of 1.95. CareDx, Inc has a 12 month low of $7.42 and a 12 month high of $34.84.

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