Insider Selling: CareDx (NASDAQ:CDNA) CEO Sells $116,040.00 in Stock

CareDx, Inc. (NASDAQ:CDNA) CEO John Walter Hanna, Jr. sold 4,835 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $24.00, for a total transaction of $116,040.00. Following the transaction, the chief executive officer owned 671,640 shares of the company’s stock, valued at approximately $16,119,360. This represents a 0.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CareDx Stock Performance

Shares of NASDAQ CDNA opened at $23.46 on Thursday. The stock has a market cap of $1.21 billion, a P/E ratio of -146.63 and a beta of 2.49. The firm has a 50 day moving average price of $20.58 and a 200 day moving average price of $19.54. CareDx, Inc. has a 52-week low of $10.96 and a 52-week high of $24.02.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.23. The firm had revenue of $117.70 million during the quarter, compared to analysts’ expectations of $102.03 million. CareDx had a negative net margin of 2.01% and a negative return on equity of 2.65%. The business’s revenue for the quarter was up 39.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.09 earnings per share. Analysts predict that CareDx, Inc. will post 0.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CDNA has been the subject of several research analyst reports. Wall Street Zen upgraded shares of CareDx from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 3rd. BTIG Research upped their price target on shares of CareDx from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Weiss Ratings reiterated a “sell (d)” rating on shares of CareDx in a report on Wednesday, May 27th. Finally, Wells Fargo & Company upped their price target on shares of CareDx from $18.00 to $21.00 and gave the company an “equal weight” rating in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, CareDx has a consensus rating of “Hold” and a consensus target price of $25.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CDNA. First Eagle Investment Management LLC lifted its position in shares of CareDx by 25.4% in the third quarter. First Eagle Investment Management LLC now owns 475,146 shares of the company’s stock worth $6,909,000 after purchasing an additional 96,123 shares in the last quarter. Paragon Associates & Paragon Associates II Joint Venture lifted its position in shares of CareDx by 93.7% in the third quarter. Paragon Associates & Paragon Associates II Joint Venture now owns 425,000 shares of the company’s stock worth $6,180,000 after purchasing an additional 205,597 shares in the last quarter. Aberdeen Group plc bought a new stake in shares of CareDx in the fourth quarter worth $6,506,000. ARK Investment Management LLC lifted its position in shares of CareDx by 3.4% in the third quarter. ARK Investment Management LLC now owns 2,170,625 shares of the company’s stock worth $31,561,000 after purchasing an additional 70,468 shares in the last quarter. Finally, Zweig DiMenna Associates LLC lifted its position in shares of CareDx by 153.8% in the third quarter. Zweig DiMenna Associates LLC now owns 575,000 shares of the company’s stock worth $8,360,000 after purchasing an additional 348,400 shares in the last quarter.

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.