CareDx Inc. (NASDAQ:CDNA) major shareholder Neil Gagnon acquired 178,686 shares of the stock in a transaction on Thursday, September 22nd. The stock was bought at an average price of $4.00 per share, with a total value of $714,744.00. Following the transaction, the insider now directly owns 613,473 shares in the company, valued at approximately $2,453,892. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of CareDx Inc. (NASDAQ:CDNA) opened at 3.62 on Wednesday. CareDx Inc. has a 12 month low of $3.28 and a 12 month high of $6.87. The firm’s market cap is $68.69 million. The stock’s 50 day moving average is $4.51 and its 200 day moving average is $4.66.
CareDx (NASDAQ:CDNA) last released its quarterly earnings results on Wednesday, August 10th. The company reported ($0.29) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by $0.01. CareDx had a negative net margin of 91.21% and a negative return on equity of 59.77%. The business earned $10.70 million during the quarter, compared to analyst estimates of $10.42 million. During the same quarter last year, the company posted ($0.27) earnings per share. The company’s revenue was up 50.7% on a year-over-year basis. Analysts forecast that CareDx Inc. will post ($1.05) EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in CDNA. Royce & Associates LP boosted its stake in CareDx by 15.5% in the first quarter. Royce & Associates LP now owns 85,917 shares of the company’s stock valued at $426,000 after buying an additional 11,503 shares in the last quarter. Vanguard Group Inc. boosted its stake in CareDx by 281.2% in the second quarter. Vanguard Group Inc. now owns 306,178 shares of the company’s stock valued at $1,323,000 after buying an additional 225,863 shares in the last quarter. Gagnon Advisors LLC boosted its stake in CareDx by 40.7% in the second quarter. Gagnon Advisors LLC now owns 952,464 shares of the company’s stock valued at $4,105,000 after buying an additional 275,496 shares in the last quarter. Finally, Gagnon Securities LLC boosted its stake in CareDx by 13.5% in the second quarter. Gagnon Securities LLC now owns 1,339,005 shares of the company’s stock valued at $5,771,000 after buying an additional 159,491 shares in the last quarter. Institutional investors and hedge funds own 34.41% of the company’s stock.
Several equities research analysts have weighed in on CDNA shares. Zacks Investment Research upgraded shares of CareDx from a “hold” rating to a “buy” rating and set a $5.50 price objective for the company in a research report on Monday, July 11th. Mizuho lifted their price target on shares of CareDx from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, June 14th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $6.00 price target on shares of CareDx in a research report on Wednesday, June 15th. Finally, Leerink Swann reiterated a “buy” rating on shares of CareDx in a research report on Tuesday, June 14th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $9.25.
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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