Insider Selling: CareDx (NASDAQ:CDNA) CFO Sells $4,821,805.02 in Stock

CareDx, Inc. (NASDAQ:CDNA) CFO Keith Kennedy sold 61,961 shares of the stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $77.82, for a total value of $4,821,805.02. Following the completion of the sale, the chief financial officer directly owned 199,147 shares of the company’s stock, valued at approximately $15,497,619.54. The trade was a 23.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CareDx Price Performance

CareDx stock opened at $81.17 on Thursday. The stock’s 50 day moving average is $65.18 and its 200 day moving average is $36.12. The firm has a market cap of $4.26 billion, a P/E ratio of 33.96 and a beta of 2.51. CareDx, Inc. has a one year low of $15.15 and a one year high of $90.87.

CareDx (NASDAQ:CDNA) last announced its earnings results on Thursday, October 29th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.25 by $0.45. CareDx had a return on equity of 9.74% and a net margin of 25.86%. The business had revenue of $139.36 million for the quarter, compared to analysts’ expectations of $121.96 million. During the same period in the prior year, the business posted $0.03 earnings per share. The firm’s revenue was up 39.3% on a year-over-year basis. Equities analysts anticipate that CareDx, Inc. will post 0.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CDNA has been the subject of several recent analyst reports. Weiss Ratings upgraded shares of CareDx from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Wall Street Zen lowered shares of CareDx from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 31st. Piper Sandler assumed coverage on shares of CareDx in a report on Wednesday. They issued an “overweight” rating and a $100.00 target price on the stock. Canaccord Genuity Group set a $99.00 price target on shares of CareDx in a research report on Friday, October 30th. Finally, HC Wainwright reiterated a “neutral” rating and set a $46.00 price target on shares of CareDx in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $70.33.

Hedge Funds Weigh In On CareDx

A number of institutional investors and hedge funds have recently modified their holdings of CDNA. Meeder Asset Management Inc. lifted its position in shares of CareDx by 2,721.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 23,416 shares of the company’s stock valued at $1,522,000 after acquiring an additional 22,586 shares during the period. Global Retirement Partners LLC boosted its stake in CareDx by 11,955.6% during the third quarter. Global Retirement Partners LLC now owns 1,085 shares of the company’s stock worth $71,000 after acquiring an additional 1,076 shares in the last quarter. HighTower Advisors LLC acquired a new stake in CareDx in the third quarter worth $421,000. Thoroughbred Financial Services LLC acquired a new stake in CareDx in the third quarter worth $751,000. Finally, Virtus Advisers LLC grew its holdings in CareDx by 5.8% in the third quarter. Virtus Advisers LLC now owns 44,475 shares of the company’s stock worth $2,891,000 after purchasing an additional 2,429 shares during the period.

CareDx Company Profile

CareDx, Inc. is a precision medicine company focused on organ transplantation. It develops and provides diagnostic tests and related services to help clinicians assess transplant recipients and monitor their health over time. Its offerings include AlloSure, a donor-derived cell-free DNA test used to help monitor for organ rejection, and AlloMap, a gene-expression test used in heart transplant care. CareDx also provides histocompatibility testing, clinical tools, and services designed to support patients and transplant care teams.