CareDx (NASDAQ:CDNA) Director Sells $279,700.33 in Stock

CareDx, Inc. (NASDAQ:CDNA) Director Hannah Valantine sold 12,103 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $23.11, for a total value of $279,700.33. Following the completion of the sale, the director owned 36,686 shares of the company’s stock, valued at $847,813.46. The trade was a 24.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CareDx Price Performance

CareDx stock traded down $0.83 during trading hours on Tuesday, reaching $23.25. The company had a trading volume of 938,029 shares, compared to its average volume of 719,498. The company has a 50-day moving average price of $20.93 and a 200 day moving average price of $19.66. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of -145.31 and a beta of 2.49. CareDx, Inc. has a 12-month low of $10.96 and a 12-month high of $24.85.

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

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CDNA. Quarry LP purchased a new stake in CareDx during the fourth quarter valued at $25,000. FNY Investment Advisers LLC bought a new position in CareDx during the third quarter valued at approximately $31,000. Meeder Asset Management Inc. purchased a new stake in shares of CareDx during the 4th quarter worth approximately $79,000. Quantbot Technologies LP purchased a new stake in shares of CareDx during the 3rd quarter worth approximately $89,000. Finally, CWM LLC raised its holdings in shares of CareDx by 119.1% during the 4th quarter. CWM LLC now owns 7,407 shares of the company’s stock worth $140,000 after acquiring an additional 4,026 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.