Christine Cournoyer Sells 16,000 Shares of CareDx (NASDAQ:CDNA) Stock

CareDx, Inc. (NASDAQ:CDNA) Director Christine Cournoyer sold 16,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $46.94, for a total transaction of $751,040.00. Following the completion of the transaction, the director owned 42,943 shares in the company, valued at approximately $2,015,744.42. This represents a 27.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CareDx Stock Up 4.2%

CDNA stock opened at $46.69 on Friday. CareDx, Inc. has a 12-month low of $11.27 and a 12-month high of $49.76. The company has a 50 day moving average of $31.01 and a two-hundred day moving average of $23.52. The company has a market cap of $2.42 billion, a price-to-earnings ratio of 22.56 and a beta of 2.39.

CareDx (NASDAQ:CDNA) last issued its earnings results on Thursday, July 30th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.14. The firm had revenue of $131.95 million for the quarter, compared to the consensus estimate of $114.05 million. CareDx had a return on equity of 2.87% and a net margin of 24.23%.The business’s quarterly revenue was up 52.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.16) earnings per share. On average, research analysts anticipate that CareDx, Inc. will post 0.47 EPS for the current year.

Institutional Trading of CareDx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aberdeen Group plc acquired a new stake in shares of CareDx in the fourth quarter worth $6,506,000. Fidelis Capital Partners LLC bought a new position in CareDx during the fourth quarter worth about $420,000. Renaissance Technologies LLC grew its stake in shares of CareDx by 7.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,184,398 shares of the company’s stock valued at $20,561,000 after purchasing an additional 79,200 shares during the period. Amova Asset Management Americas Inc. boosted its stake in CareDx by 2.0% in the 1st quarter. Amova Asset Management Americas Inc. now owns 1,475,126 shares of the company’s stock valued at $25,608,000 after buying an additional 28,510 shares in the last quarter. Finally, Globeflex Capital L P grew its position in CareDx by 49.4% in the first quarter. Globeflex Capital L P now owns 119,252 shares of the company’s stock valued at $2,070,000 after acquiring an additional 39,457 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. William Blair raised CareDx to a “hold” rating in a research note on Thursday, July 16th. Craig Hallum raised CareDx from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Monday, August 3rd. Wall Street Zen upgraded CareDx from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 3rd. BTIG Research lifted their price target on shares of CareDx from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday. Finally, HC Wainwright restated a “neutral” rating and issued a $46.00 price objective on shares of CareDx in a research note on Friday, July 31st. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, CareDx presently has an average rating of “Hold” and an average price target of $47.75.

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.