John Walter Hanna, Jr. Sells 4,835 Shares of CareDx (NASDAQ:CDNA) Stock

CareDx, Inc. (NASDAQ:CDNA) CEO John Walter Hanna, Jr. sold 4,835 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $24.00, for a total transaction of $116,040.00. Following the transaction, the chief executive officer directly owned 671,640 shares in the company, valued at approximately $16,119,360. The trade was a 0.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CareDx Trading Up 3.6%

CareDx stock opened at $22.75 on Wednesday. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -142.19 and a beta of 2.49. The company’s 50-day moving average price is $20.44 and its two-hundred day moving average price is $19.48. CareDx, Inc. has a 52 week low of $10.96 and a 52 week high of $24.02.

CareDx (NASDAQ:CDNA) last released its earnings results on Tuesday, April 28th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.11 by $0.23. The firm had revenue of $117.70 million for the quarter, compared to analysts’ expectations of $102.03 million. CareDx had a negative net margin of 2.01% and a negative return on equity of 2.65%. CareDx’s quarterly revenue was up 39.3% on a year-over-year basis. During the same quarter last year, the company earned $0.09 EPS. Research analysts expect that CareDx, Inc. will post 0.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on CDNA shares. BTIG Research raised their target price on shares of CareDx from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Wells Fargo & Company raised their target price on shares of CareDx from $18.00 to $21.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 25th. Wall Street Zen raised shares of CareDx from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of CareDx in a research note on Wednesday, May 27th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, CareDx has an average rating of “Hold” and a consensus price target of $25.00.

Hedge Funds Weigh In On CareDx

Several hedge funds have recently made changes to their positions in CDNA. Quarry LP acquired a new position in shares of CareDx in the 4th quarter worth approximately $25,000. FNY Investment Advisers LLC acquired a new position in shares of CareDx in the 3rd quarter worth approximately $31,000. Meeder Asset Management Inc. acquired a new position in shares of CareDx in the 4th quarter worth approximately $79,000. Quantbot Technologies LP acquired a new position in shares of CareDx in the 3rd quarter worth approximately $89,000. Finally, CWM LLC grew its stake in shares of CareDx by 119.1% in the 4th quarter. CWM LLC now owns 7,407 shares of the company’s stock worth $140,000 after purchasing an additional 4,026 shares during the last quarter.

About CareDx

CareDx, Inc (NASDAQ: CDNA) is a precision diagnostics company focused on the care of transplant patients. The firm develops and commercializes non‐invasive tests designed to detect organ transplant rejection and infection risk, helping physicians make informed management decisions throughout the post‐transplant journey.

The company’s core product portfolio includes AlloMap®, a gene expression profiling test for heart transplant recipients, and AlloSure®, a donor‐derived cell‐free DNA assay used primarily in kidney transplant monitoring.