CareDx (NASDAQ:CDNA) Director George Bickerstaff Sells 20,000 Shares of Stock

CareDx, Inc. (NASDAQ:CDNA) Director George Bickerstaff sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $46.28, for a total value of $925,600.00. Following the sale, the director owned 134,061 shares in the company, valued at approximately $6,204,343.08. This trade represents a 12.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

CareDx Price Performance

NASDAQ:CDNA opened at $44.81 on Friday. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 21.65 and a beta of 2.39. The business has a 50 day simple moving average of $30.54 and a 200-day simple moving average of $23.36. CareDx, Inc. has a 1 year low of $11.26 and a 1 year high of $49.76.

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

Hedge Funds Weigh In On CareDx

Hedge funds have recently bought and sold shares of the business. State Street Corp lifted its position in shares of CareDx by 6.7% during 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. Bamco Inc. NY boosted its stake in shares of CareDx by 11.2% during the second quarter. Bamco Inc. NY now owns 2,435,657 shares of the company’s stock valued at $47,593,000 after purchasing an additional 245,651 shares during the period. Deerfield Management Company L.P. bought a new position in shares of CareDx in the third quarter worth about $31,857,000. Gagnon Securities LLC grew its holdings in shares of CareDx by 2.6% in the fourth quarter. Gagnon Securities LLC now owns 1,774,890 shares of the company’s stock worth $33,439,000 after purchasing an additional 45,465 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in CareDx by 2.0% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,475,126 shares of the company’s stock valued at $25,608,000 after buying an additional 28,510 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CDNA. BTIG Research increased their target price on shares of CareDx from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday. Wall Street Zen raised shares of CareDx from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. Weiss Ratings raised shares of CareDx from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, July 30th. William Blair upgraded shares of CareDx to a “hold” rating in a report on Thursday, July 16th. Finally, Craig Hallum raised shares of CareDx from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $47.75.

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.