CareDx (NASDAQ:CDNA) Stock: Insider Keith Kennedy Sells 61,961 Shares

CareDx, Inc. (NASDAQ:CDNA) CFO Keith Kennedy sold 61,961 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $77.82, for a total value of $4,821,805.02. Following the sale, the chief financial officer directly owned 199,147 shares of the company’s stock, valued at approximately $15,497,619.54. This represents a 23.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CareDx Stock Performance

CareDx stock traded up $5.86 during mid-day trading on Monday, reaching $84.42. 1,093,992 shares of the company were exchanged, compared to its average volume of 984,770. CareDx, Inc. has a twelve month low of $15.15 and a twelve month high of $90.87. The firm’s 50-day simple moving average is $63.23 and its two-hundred day simple moving average is $35.20. The firm has a market cap of $4.44 billion, a PE ratio of 35.32 and a beta of 2.50.

CareDx (NASDAQ:CDNA) last announced its earnings results on Thursday, October 29th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.45. The company had revenue of $139.36 million for the quarter, compared to the consensus estimate of $121.96 million. CareDx had a return on equity of 9.74% and a net margin of 25.86%. The company’s revenue was up 39.3% on a year-over-year basis. During the same period last year, the business posted $0.03 EPS. As a group, equities research analysts anticipate that CareDx, Inc. will post 0.99 EPS for the current year.

Wall Street Analyst Weigh In

CDNA has been the subject of several recent research reports. Weiss Ratings raised CareDx from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. BTIG Research boosted their price objective on shares of CareDx from $81.00 to $92.00 and gave the company a “buy” rating in a research note on Friday, October 30th. Zacks Research upgraded shares of CareDx from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Wall Street Zen downgraded shares of CareDx from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 31st. Finally, Craig Hallum upgraded shares of 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. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $64.40.

Institutional Investors Weigh In On CareDx

A number of institutional investors have recently added to or reduced their stakes in CDNA. BlackRock Inc. purchased a new position in CareDx in the second quarter valued at about $137,219,000. Bamco Inc. NY purchased a new stake in shares of CareDx during the 2nd quarter worth approximately $55,214,000. Bank of America Corp DE purchased a new stake in shares of CareDx during the 2nd quarter worth approximately $16,297,000. Palo Alto Investors LP purchased a new stake in shares of CareDx during the 2nd quarter worth approximately $15,158,295. Finally, Jupiter Topco LLC acquired a new stake in shares of CareDx in the 2nd quarter worth approximately $9,673,000.

About CareDx

CareDx, Inc is a precision medicine company focused on organ transplantation. It develops and provides diagnostic tests and related services to help clinicians assess transplant recipients and monitor their health over time.

Its offerings include AlloSure, a donor-derived cell-free DNA test used to help monitor for organ rejection, and AlloMap, a gene-expression test used in heart transplant care. CareDx also provides histocompatibility testing, clinical tools, and services designed to support patients and transplant care teams.

The company traces its roots to XDx, founded in 1998, and adopted the CareDx name in 2010.