CareDx (NASDAQ:CDNA) Director Sells $751,040.00 in Stock

CareDx, Inc. (NASDAQ:CDNA) Director Christine Cournoyer sold 16,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $46.94, for a total value of $751,040.00. Following the completion of the transaction, the director directly owned 42,943 shares of the company’s stock, valued at approximately $2,015,744.42. This trade represents a 27.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CareDx Stock Down 1.5%

Shares of CDNA stock traded down $0.69 during trading hours on Thursday, hitting $44.81. 789,941 shares of the company were exchanged, compared to its average volume of 838,168. The firm has a market cap of $2.32 billion, a PE ratio of 21.65 and a beta of 2.39. The firm has a fifty day moving average of $30.09 and a 200 day moving average of $23.18. CareDx, Inc. has a 1 year low of $11.26 and a 1 year high of $49.76.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.14. CareDx had a net margin of 24.23% and a return on equity of 2.87%. The firm had revenue of $131.95 million during the quarter, compared to analysts’ expectations of $114.05 million. During the same period in the prior year, the company earned ($0.16) EPS. The firm’s revenue was up 52.2% on a year-over-year basis. Analysts expect that CareDx, Inc. will post 0.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CDNA. Craig Hallum raised CareDx from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research report on Monday. BTIG Research increased their price objective on shares of CareDx from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday. William Blair upgraded shares of CareDx to a “hold” rating in a research report on Thursday, July 16th. Weiss Ratings raised shares of CareDx from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, July 30th. Finally, Wall Street Zen upgraded shares of CareDx from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $47.75.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CDNA. Price T Rowe Associates Inc. MD lifted its position in shares of CareDx by 1.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 39,218 shares of the company’s stock worth $739,000 after buying an additional 711 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in CareDx by 4.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,742 shares of the company’s stock worth $542,000 after purchasing an additional 1,280 shares during the last quarter. Quarry LP bought a new stake in CareDx during the fourth quarter worth approximately $25,000. Allspring Global Investments Holdings LLC grew its holdings in CareDx by 9.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 19,091 shares of the company’s stock valued at $365,000 after purchasing an additional 1,675 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of CareDx by 8.3% in the first quarter. SG Americas Securities LLC now owns 29,949 shares of the company’s stock worth $520,000 after buying an additional 2,292 shares during 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.