Insider Selling: CareDx (NASDAQ:CDNA) CEO Sells $1,166,676.00 in Stock

CareDx, Inc. (NASDAQ:CDNA) CEO John Walter Hanna, Jr. sold 39,900 shares of CareDx stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $29.24, for a total value of $1,166,676.00. Following the transaction, the chief executive officer owned 661,959 shares in the company, valued at approximately $19,355,681.16. The trade was a 5.68% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CareDx Stock Down 0.2%

Shares of NASDAQ:CDNA opened at $29.19 on Friday. CareDx, Inc. has a 52-week low of $10.96 and a 52-week high of $30.00. The stock has a market cap of $1.51 billion, a P/E ratio of -182.44 and a beta of 2.43. The business has a fifty day moving average of $23.07 and a two-hundred day moving average of $20.41.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.11 by $0.23. The business had revenue of $117.70 million for the quarter, compared to analyst estimates of $102.03 million. CareDx had a negative return on equity of 2.65% and a negative net margin of 2.01%.The company’s quarterly revenue was up 39.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.09 EPS. On average, equities analysts anticipate that CareDx, Inc. will post 0.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. BTIG Research boosted their target price on shares of CareDx from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Wall Street Zen upgraded shares of CareDx from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 3rd. Finally, Weiss Ratings raised shares of CareDx from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, June 26th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, CareDx presently has a consensus rating of “Hold” and a consensus target price of $25.00.

Hedge Funds Weigh In On CareDx

Large investors have recently made changes to their positions in the stock. Deerfield Management Company L.P. purchased a new position in CareDx during the 3rd quarter valued at about $31,857,000. Braidwell LP acquired a new position in CareDx in the 3rd quarter valued at about $31,738,000. Boston Partners increased its stake in CareDx by 2,776.5% during the fourth quarter. Boston Partners now owns 901,929 shares of the company’s stock worth $16,994,000 after purchasing an additional 870,574 shares during the period. Bamco Inc. NY increased its stake in CareDx by 29.5% during the third quarter. Bamco Inc. NY now owns 3,155,180 shares of the company’s stock worth $45,876,000 after purchasing an additional 719,523 shares during the period. Finally, Amova Asset Management Americas Inc. lifted its position in shares of CareDx by 40.8% during the third quarter. Amova Asset Management Americas Inc. now owns 1,740,064 shares of the company’s stock worth $25,283,000 after purchasing an additional 504,473 shares in the last quarter.

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.