CareDx (NASDAQ:CDNA) Director Christine Cournoyer Sells 16,000 Shares of Stock

CareDx, Inc. (NASDAQ:CDNA) Director Christine Cournoyer sold 16,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $46.94, for a total transaction of $751,040.00. Following the completion of the sale, the director owned 42,943 shares in the company, valued at $2,015,744.42. This represents a 27.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CareDx Price Performance

CareDx stock opened at $44.81 on Friday. The company’s 50 day simple moving average is $30.54 and its 200 day simple moving average is $23.36. CareDx, Inc. has a fifty-two week low of $11.26 and a fifty-two week high of $49.76. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 21.65 and a beta of 2.39.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.14. CareDx had a net margin of 24.23% and a return on equity of 2.87%. The firm had revenue of $131.95 million during the quarter, compared to analysts’ expectations of $114.05 million. During the same quarter in the previous year, the company earned ($0.16) earnings per share. The business’s revenue for the quarter was up 52.2% on a year-over-year basis. As a group, analysts predict that CareDx, Inc. will post 0.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CDNA. Wall Street Zen raised shares of CareDx from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 3rd. BTIG Research raised their price objective on CareDx from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday. Weiss Ratings upgraded CareDx from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, July 30th. HC Wainwright reissued a “neutral” rating and issued a $46.00 target price on shares of CareDx in a research note on Friday, July 31st. Finally, Craig Hallum upgraded CareDx from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Monday. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $47.75.

Institutional Investors Weigh In On CareDx

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Deerfield Management Company L.P. bought a new stake in CareDx during the third quarter worth $31,857,000. Boston Partners grew its position in shares of CareDx by 2,776.5% in the 4th quarter. Boston Partners now owns 901,929 shares of the company’s stock valued at $16,994,000 after acquiring an additional 870,574 shares during the period. Aberdeen Group plc acquired a new position in shares of CareDx during the 4th quarter worth about $6,506,000. Millennium Management LLC increased its stake in shares of CareDx by 504.0% during the 3rd quarter. Millennium Management LLC now owns 413,689 shares of the company’s stock worth $6,015,000 after purchasing an additional 345,197 shares during the last quarter. Finally, Palo Alto Investors LP acquired a new position in shares of CareDx during the 3rd quarter worth about $4,598,000.

CareDx Company Profile

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.