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 the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $29.24, for a total value of $1,166,676.00. Following the sale, the chief executive officer owned 661,959 shares of the company’s stock, valued at approximately $19,355,681.16. This trade represents a 5.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CareDx Stock Down 2.7%

NASDAQ:CDNA traded down $0.78 on Tuesday, hitting $28.50. The stock had a trading volume of 642,737 shares, compared to its average volume of 753,643. The business’s 50-day simple moving average is $22.60 and its two-hundred day simple moving average is $20.22. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -178.12 and a beta of 2.49. CareDx, Inc. has a 52-week low of $10.96 and a 52-week high of $29.58.

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CDNA. BTIG Research increased their price target on shares of CareDx from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Weiss Ratings upgraded CareDx from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday. Finally, Wall Street Zen raised CareDx from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 3rd. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $25.00.

Hedge Funds Weigh In On CareDx

Several large investors have recently added to or reduced their stakes in CDNA. Deerfield Management Company L.P. bought a new position in shares of CareDx in the third quarter worth approximately $31,857,000. Braidwell LP bought a new stake in shares of CareDx during the 3rd quarter valued at $31,738,000. Boston Partners raised its position in shares of CareDx by 2,776.5% during the 4th quarter. Boston Partners now owns 901,929 shares of the company’s stock valued at $16,994,000 after purchasing an additional 870,574 shares during the period. Bamco Inc. NY lifted its stake in shares of CareDx by 29.5% during the 3rd quarter. Bamco Inc. NY now owns 3,155,180 shares of the company’s stock valued at $45,876,000 after buying an additional 719,523 shares in the last quarter. Finally, Amova Asset Management Americas Inc. lifted its stake in shares of CareDx by 40.8% during the 3rd quarter. Amova Asset Management Americas Inc. now owns 1,740,064 shares of the company’s stock valued at $25,283,000 after buying 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.