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

CareDx, Inc. (NASDAQ:CDNA) CEO John Walter Hanna, Jr. sold 4,835 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $24.00, for a total value of $116,040.00. Following the sale, the chief executive officer owned 671,640 shares of the company’s stock, valued at approximately $16,119,360. The trade was a 0.71% decrease in their position. 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 Down 1.3%

Shares of CareDx stock opened at $21.95 on Tuesday. CareDx, Inc. has a 52 week low of $10.96 and a 52 week high of $24.02. The firm’s 50 day moving average is $20.32 and its two-hundred day moving average is $19.43. The firm has a market capitalization of $1.13 billion, a P/E ratio of -137.19 and a beta of 2.49.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data 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. CareDx had a negative net margin of 2.01% and a negative return on equity of 2.65%. The business had revenue of $117.70 million during the quarter, compared to the consensus estimate of $102.03 million. During the same quarter in the previous year, the firm earned $0.09 EPS. The company’s revenue was up 39.3% compared to the same quarter last year. As a group, research analysts expect that CareDx, Inc. will post 0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CareDx

A number of hedge funds and other institutional investors have recently made changes to their positions in CDNA. Price T Rowe Associates Inc. MD raised its stake in CareDx by 1.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 39,218 shares of the company’s stock valued at $739,000 after acquiring an additional 711 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of 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 purchasing an additional 1,280 shares during the last quarter. Quarry LP purchased a new position in shares of CareDx in the 4th quarter valued at approximately $25,000. Allspring Global Investments Holdings LLC increased its holdings in shares of CareDx by 9.6% in 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 period. Finally, FNY Investment Advisers LLC acquired a new position in shares of CareDx in the third quarter valued at approximately $31,000.

Wall Street Analyst Weigh In

CDNA has been the subject of several research analyst reports. Wall Street Zen raised CareDx from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 3rd. Wells Fargo & Company boosted their target price on CareDx from $18.00 to $21.00 and gave the company an “equal weight” rating in a report on Wednesday, February 25th. BTIG Research upped their target price on CareDx from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of CareDx in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, CareDx has an average rating of “Hold” and a consensus price target of $25.00.

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.