Insider Selling: CareDx (NASDAQ:CDNA) CEO Sells $528,391.96 in Stock

CareDx, Inc. (NASDAQ:CDNA) CEO John Walter Hanna, Jr. sold 21,998 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $24.02, for a total value of $528,391.96. Following the transaction, the chief executive officer directly owned 649,642 shares in the company, valued at approximately $15,604,400.84. This trade represents a 3.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CareDx Stock Up 1.0%

Shares of NASDAQ CDNA opened at $23.48 on Thursday. The business’s 50 day moving average price is $21.14 and its two-hundred day moving average price is $19.74. The company has a market cap of $1.21 billion, a PE ratio of -146.75 and a beta of 2.49. CareDx, Inc. has a twelve month low of $10.96 and a twelve month high of $24.85.

CareDx (NASDAQ:CDNA) last posted 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. CareDx had a negative return on equity of 2.65% and a negative net margin of 2.01%.The company had revenue of $117.70 million for the quarter, compared to the consensus estimate of $102.03 million. During the same quarter in the prior year, the business earned $0.09 earnings per share. The firm’s revenue for the quarter was up 39.3% on a year-over-year basis. As a group, research analysts anticipate that CareDx, Inc. will post 0.22 EPS for the current fiscal year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On CareDx

A number of large investors have recently modified their holdings of CDNA. Quarry LP acquired a new stake in shares of CareDx in the 4th quarter valued at $25,000. FNY Investment Advisers LLC acquired a new stake in shares of CareDx in the 3rd quarter valued at $31,000. Meeder Asset Management Inc. acquired a new stake in shares of CareDx in the 4th quarter valued at $79,000. Quantbot Technologies LP acquired a new stake in shares of CareDx in the 3rd quarter valued at $89,000. Finally, CWM LLC boosted its holdings in shares of CareDx by 119.1% in the 4th quarter. CWM LLC now owns 7,407 shares of the company’s stock valued at $140,000 after purchasing an additional 4,026 shares in 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.