CareDx (NASDAQ:CDNA) CEO John Walter Hanna Jr Sells 19,280 Shares

CareDx, Inc. (NASDAQ:CDNA) CEO John Walter Hanna, Jr. sold 19,280 shares of the stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $21.16, for a total transaction of $407,964.80. Following the transaction, the chief executive officer directly owned 597,405 shares in the company, valued at approximately $12,641,089.80. This represents a 3.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

CareDx Stock Down 2.9%

Shares of NASDAQ CDNA traded down $0.60 during trading on Friday, hitting $20.42. 623,291 shares of the company traded hands, compared to its average volume of 846,113. The firm has a market capitalization of $1.05 billion, a P/E ratio of 17.16 and a beta of 2.49. The company has a 50-day moving average price of $18.83 and a 200-day moving average price of $15.91. CareDx, Inc. has a 1 year low of $10.96 and a 1 year high of $25.55.

CareDx (NASDAQ:CDNA) last issued its earnings results on Tuesday, November 4th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.15. CareDx had a return on equity of 20.15% and a net margin of 19.65%.The business had revenue of $100.06 million for the quarter, compared to analyst estimates of $95.25 million. During the same period last year, the company posted ($0.14) EPS. The business’s quarterly revenue was up 20.7% on a year-over-year basis. Research analysts predict that CareDx, Inc. will post -0.9 EPS for the current fiscal year.

Institutional Investors Weigh In On CareDx

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bamco Inc. NY boosted its position in CareDx by 29.5% in 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 during the last quarter. Deerfield Management Company L.P. purchased a new stake in shares of CareDx during the third quarter worth about $31,857,000. Braidwell LP acquired a new position in shares of CareDx in the third quarter worth about $31,738,000. ARK Investment Management LLC boosted its holdings in CareDx by 3.4% in the third quarter. ARK Investment Management LLC now owns 2,170,625 shares of the company’s stock valued at $31,561,000 after purchasing an additional 70,468 shares during the last quarter. Finally, Ophir Asset Management Pty Ltd grew its stake in CareDx by 17.0% during the 2nd quarter. Ophir Asset Management Pty Ltd now owns 1,892,994 shares of the company’s stock valued at $36,989,000 after purchasing an additional 274,625 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. BTIG Research increased their target price on shares of CareDx from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Craig Hallum lowered shares of CareDx from a “buy” rating to a “hold” rating and set a $26.00 price objective for the company. in a research report on Tuesday, January 6th. Wells Fargo & Company raised their target price on shares of CareDx from $14.00 to $18.00 and gave the company an “equal weight” rating in a research note on Monday, December 15th. Wall Street Zen raised shares of CareDx from a “hold” rating to a “buy” rating in a research report on Sunday, December 21st. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of CareDx in a report on Monday, December 29th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $26.67.

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.