Insider Selling: CareDx (NASDAQ:CDNA) CEO Sells 39,900 Shares of Stock

CareDx, Inc. (NASDAQ:CDNA) CEO John Walter Hanna, Jr. sold 39,900 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $29.24, for a total value of $1,166,676.00. Following the completion of the transaction, the chief executive officer owned 661,959 shares of the company’s stock, valued at approximately $19,355,681.16. The trade was a 5.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CareDx Trading Down 2.7%

CDNA traded down $0.78 during trading on Tuesday, reaching $28.50. The stock had a trading volume of 642,737 shares, compared to its average volume of 753,643. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of -178.12 and a beta of 2.49. The stock’s 50 day moving average is $22.60 and its two-hundred day moving average is $20.22. CareDx, Inc. has a one year low of $10.96 and a one year high of $29.58.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.23. CareDx had a negative net margin of 2.01% and a negative return on equity of 2.65%. The company had revenue of $117.70 million during the quarter, compared to analyst estimates of $102.03 million. During the same period last year, the business earned $0.09 EPS. CareDx’s quarterly revenue was up 39.3% compared to the same quarter last year. On average, equities research analysts predict that CareDx, Inc. will post 0.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. BTIG Research boosted their target price on CareDx from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Weiss Ratings upgraded CareDx from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday. Finally, Wall Street Zen raised CareDx from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 3rd. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $25.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Bamco Inc. NY grew its stake in shares of CareDx by 29.5% in the third quarter. Bamco Inc. NY now owns 3,155,180 shares of the company’s stock worth $45,876,000 after acquiring an additional 719,523 shares during the period. State Street Corp boosted its holdings in CareDx by 6.7% in the fourth quarter. State Street Corp now owns 2,737,752 shares of the company’s stock worth $51,579,000 after purchasing an additional 171,303 shares during the last quarter. Deerfield Management Company L.P. purchased a new stake in CareDx in the third quarter worth approximately $31,857,000. Braidwell LP bought a new stake in CareDx in the 3rd quarter worth approximately $31,738,000. Finally, ARK Investment Management LLC grew its position in CareDx by 3.4% in the 3rd quarter. ARK Investment Management LLC now owns 2,170,625 shares of the company’s stock worth $31,561,000 after purchasing an additional 70,468 shares during the period.

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.