CareDx (NASDAQ:CDNA) Director Sells $925,600.00 in Stock

CareDx, Inc. (NASDAQ:CDNA) Director George Bickerstaff sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $46.28, for a total value of $925,600.00. Following the sale, the director directly owned 134,061 shares in the company, valued at approximately $6,204,343.08. This represents a 12.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

CareDx Price Performance

Shares of CDNA opened at $46.69 on Friday. The stock has a market capitalization of $2.42 billion, a PE ratio of 22.56 and a beta of 2.39. The business’s fifty day moving average price is $31.01 and its 200 day moving average price is $23.52. CareDx, Inc. has a 12-month low of $11.27 and a 12-month high of $49.76.

CareDx (NASDAQ:CDNA) last issued its 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 company had revenue of $131.95 million for the quarter, compared to analysts’ expectations of $114.05 million. During the same period in the prior year, the company earned ($0.16) earnings per share. The firm’s revenue was up 52.2% compared to the same quarter last year. As a group, research analysts anticipate that CareDx, Inc. will post 0.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new position in CareDx in the 2nd quarter worth about $137,219,000. State Street Corp boosted its position in shares of CareDx by 6.7% during the fourth quarter. State Street Corp now owns 2,737,752 shares of the company’s stock worth $51,579,000 after buying an additional 171,303 shares during the period. Bamco Inc. NY boosted its position in shares of CareDx by 11.2% during the second quarter. Bamco Inc. NY now owns 2,435,657 shares of the company’s stock worth $47,593,000 after buying an additional 245,651 shares during the period. Deerfield Management Company L.P. bought a new position in CareDx in the 3rd quarter worth approximately $31,857,000. Finally, Gagnon Securities LLC grew its holdings in CareDx by 2.6% in the 4th quarter. Gagnon Securities LLC now owns 1,774,890 shares of the company’s stock worth $33,439,000 after buying an additional 45,465 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CDNA shares. Craig Hallum upgraded CareDx from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Monday, August 3rd. HC Wainwright reiterated a “neutral” rating and set a $46.00 price target on shares of CareDx in a research report on Friday, July 31st. BTIG Research raised their price target on CareDx from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday. Weiss Ratings upgraded CareDx from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, July 30th. Finally, William Blair upgraded CareDx to a “hold” rating in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $47.75.

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.