CareDx, Inc. (NASDAQ:CDNA) gapped up before the market opened on Monday following insider buying activity. The stock had previously closed at $2.97, but opened at $2.98. CareDx shares last traded at $2.65, with a volume of 473,611 shares traded.

Specifically, major shareholder Neil Gagnon bought 63,120 shares of the stock in a transaction dated Friday, June 23rd. The shares were bought at an average cost of $1.10 per share, with a total value of $69,432.00. Following the completion of the transaction, the insider now directly owns 886,216 shares of the company’s stock, valued at $974,837.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have bought 102,858 shares of company stock worth $178,233 over the last ninety days. 5.40% of the stock is owned by insiders.

A number of equities research analysts recently commented on CDNA shares. Zacks Investment Research raised CareDx from a “hold” rating to a “buy” rating and set a $1.00 price target for the company in a research report on Thursday, May 25th. ValuEngine lowered CareDx from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd.

The company’s market capitalization is $67.17 million. The company’s 50 day moving average price is $1.56 and its 200-day moving average price is $1.45.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data on Thursday, August 10th. The company reported ($0.19) EPS for the quarter, meeting the consensus estimate of ($0.19). CareDx had a negative return on equity of 85.68% and a negative net margin of 61.27%. The firm had revenue of $12.05 million during the quarter, compared to analyst estimates of $11.87 million. On average, equities research analysts anticipate that CareDx, Inc. will post ($0.82) earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of the stock. Stonepine Capital Management LLC acquired a new stake in shares of CareDx during the second quarter valued at approximately $212,000. Royce & Associates LP raised its stake in shares of CareDx by 39.3% in the second quarter. Royce & Associates LP now owns 733,287 shares of the company’s stock valued at $814,000 after buying an additional 206,815 shares in the last quarter. Finally, Gagnon Securities LLC raised its stake in shares of CareDx by 2.9% in the second quarter. Gagnon Securities LLC now owns 2,084,292 shares of the company’s stock valued at $2,314,000 after buying an additional 57,954 shares in the last quarter. Hedge funds and other institutional investors own 29.15% of the company’s stock.

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CareDx Company Profile

CareDx, Inc is a molecular diagnostics company. The Company is focused on the discovery, development and commercialization of clinically differentiated diagnostic surveillance solutions for transplant patients. The Company’s commercialized testing solution, the AlloMap heart transplant molecular test (AlloMap), is a gene expression test that helps clinicians monitor and identify heart transplant recipients with stable graft function having a low probability of moderate/severe acute cellular rejection.

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