John Walter Hanna Jr Sells 4,835 Shares of CareDx (NASDAQ:CDNA) Stock

CareDx, Inc. (NASDAQ:CDNA) CEO John Walter Hanna, Jr. sold 4,835 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $24.00, for a total transaction of $116,040.00. Following the completion of the sale, the chief executive officer owned 671,640 shares in the company, valued at approximately $16,119,360. This trade represents a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CareDx Price Performance

CDNA traded down $0.30 during mid-day trading on Monday, hitting $21.95. The stock had a trading volume of 366,082 shares, compared to its average volume of 713,517. The stock’s fifty day simple moving average is $20.23 and its 200-day simple moving average is $19.39. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -137.19 and a beta of 2.49. CareDx, Inc. has a 1-year low of $10.96 and a 1-year high of $24.02.

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

Institutional Trading of CareDx

Hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its stake in CareDx by 1.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 39,218 shares of the company’s stock valued at $739,000 after buying an additional 711 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in CareDx by 4.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,742 shares of the company’s stock valued at $542,000 after buying an additional 1,280 shares during the last quarter. Quarry LP acquired a new position in CareDx in the 4th quarter valued at about $25,000. Allspring Global Investments Holdings LLC grew its stake in CareDx by 9.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 19,091 shares of the company’s stock valued at $365,000 after buying an additional 1,675 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in CareDx in the 3rd quarter valued at about $31,000.

Wall Street Analysts Forecast Growth

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

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.