CareDx (NASDAQ:CDNA) Shares Gap Down on Insider Selling


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CareDx, Inc (NASDAQ:CDNA) shares gapped down prior to trading on Tuesday after an insider sold shares in the company. The stock had previously closed at $73.71, but opened at $71.95. CareDx shares last traded at $74.33, with a volume of 1,617 shares.

Specifically, Director Ralph Snyderman sold 12,000 shares of the stock in a transaction on Friday, January 15th. The shares were sold at an average price of $88.88, for a total transaction of $1,066,560.00. Following the transaction, the director now directly owns 72,672 shares of the company’s stock, valued at $6,459,087.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Peter Maag sold 10,000 shares of CareDx stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $72.40, for a total transaction of $724,000.00. Following the completion of the sale, the insider now owns 421,468 shares in the company, valued at approximately $30,514,283.20. The disclosure for this sale can be found here. Insiders sold 62,579 shares of company stock valued at $5,080,873 over the last 90 days. Company insiders own 3.10% of the company’s stock.

A number of brokerages have commented on CDNA. Raymond James reduced their target price on CareDx from $101.00 to $98.00 and set a “strong-buy” rating for the company in a report on Wednesday, March 3rd. Piper Sandler increased their price objective on CareDx from $62.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, January 12th. TheStreet raised shares of CareDx from a “d” rating to a “c-” rating in a research note on Friday, March 19th. Craig Hallum increased their target price on shares of CareDx from $66.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, January 4th. Finally, HC Wainwright lowered shares of CareDx from a “buy” rating to a “neutral” rating in a research report on Friday, February 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $73.57.

The firm’s 50-day moving average price is $71.65 and its two-hundred day moving average price is $66.15. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of -155.71 and a beta of 0.84.

CareDx (NASDAQ:CDNA) last issued its earnings results on Tuesday, February 23rd. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.20. CareDx had a negative net margin of 11.79% and a negative return on equity of 10.95%. As a group, equities analysts expect that CareDx, Inc will post -0.47 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in CDNA. Swiss National Bank grew its position in CareDx by 11.6% in the fourth quarter. Swiss National Bank now owns 105,200 shares of the company’s stock worth $7,622,000 after acquiring an additional 10,900 shares during the period. NN Investment Partners Holdings N.V. purchased a new position in shares of CareDx during the 4th quarter worth $1,448,000. Exchange Traded Concepts LLC increased its position in shares of CareDx by 27.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 25,174 shares of the company’s stock worth $1,824,000 after purchasing an additional 5,346 shares during the last quarter. Federated Hermes Inc. increased its position in shares of CareDx by 1,159,853.3% during the 4th quarter. Federated Hermes Inc. now owns 173,993 shares of the company’s stock worth $12,606,000 after purchasing an additional 173,978 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in CareDx by 4.7% in the 4th quarter. Rhumbline Advisers now owns 60,720 shares of the company’s stock valued at $4,399,000 after buying an additional 2,750 shares during the period.

CareDx Company Profile (NASDAQ:CDNA)

CareDx, Inc discovers, develops, and commercializes healthcare solutions for transplant patients and caregivers worldwide. It offers AlloSure Kidney, a donor-derived cell-free DNA (dd-cfDNA) solution for kidney transplant patients; and AlloMap Heart, a gene expression solution for heart transplant patients.

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