Insider Selling: CareDx (NASDAQ:CDNA) Director Sells $751,040.00 in Stock

CareDx, Inc. (NASDAQ:CDNA) Director Christine Cournoyer sold 16,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $46.94, for a total transaction of $751,040.00. Following the transaction, the director owned 42,943 shares in the company, valued at approximately $2,015,744.42. The trade was a 27.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CareDx Trading Up 4.2%

CareDx stock opened at $46.69 on Friday. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 22.56 and a beta of 2.39. The firm’s fifty day moving average price is $31.01 and its two-hundred day moving average price is $23.52. CareDx, Inc. has a 1-year low of $11.27 and a 1-year high of $49.76.

CareDx (NASDAQ:CDNA) last posted its earnings results on Thursday, July 30th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.23 by $0.14. CareDx had a net margin of 24.23% and a return on equity of 2.87%. The company had revenue of $131.95 million during the quarter, compared to the consensus estimate of $114.05 million. During the same period in the previous year, the firm posted ($0.16) earnings per share. The firm’s revenue for the quarter was up 52.2% on a year-over-year basis. On average, research analysts forecast that CareDx, Inc. will post 0.47 EPS for the current year.

Hedge Funds Weigh In On CareDx

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP purchased a new position in shares of CareDx in the 4th quarter worth about $25,000. Meeder Asset Management Inc. bought a new stake in CareDx in the fourth quarter worth about $79,000. Quantbot Technologies LP bought a new stake in CareDx in the third quarter worth about $89,000. CWM LLC boosted its stake in CareDx by 119.1% in the fourth quarter. CWM LLC now owns 7,407 shares of the company’s stock valued at $140,000 after acquiring an additional 4,026 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in CareDx by 120.6% in the second quarter. Tower Research Capital LLC TRC now owns 7,608 shares of the company’s stock valued at $149,000 after acquiring an additional 4,160 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages have recently commented on CDNA. Zacks Research raised CareDx from a “hold” rating to a “strong-buy” rating in a research note on Thursday. BTIG Research lifted their target price on CareDx from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday. Weiss Ratings upgraded CareDx from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, July 30th. HC Wainwright reissued a “neutral” rating and issued a $46.00 price target on shares of CareDx in a research report on Friday, July 31st. Finally, Craig Hallum upgraded CareDx from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $47.75.

About CareDx

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.