CareDx (NASDAQ:CDNA) CEO John Walter Hanna, Jr. Sells 21,998 Shares

CareDx, Inc. (NASDAQ:CDNA) CEO John Walter Hanna, Jr. sold 21,998 shares of CareDx stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $24.02, for a total value of $528,391.96. Following the sale, the chief executive officer directly owned 649,642 shares in the company, valued at approximately $15,604,400.84. The trade was a 3.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CareDx Stock Performance

Shares of NASDAQ CDNA opened at $24.08 on Tuesday. CareDx, Inc. has a 1 year low of $10.96 and a 1 year high of $24.13. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -150.50 and a beta of 2.49. The stock’s 50-day simple moving average is $20.93 and its 200-day simple moving average is $19.66.

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

Institutional Trading of CareDx

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in CareDx by 1.8% in the fourth 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 increased its holdings in CareDx by 4.8% in the second 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 fourth quarter valued at approximately $25,000. Allspring Global Investments Holdings LLC boosted its stake in 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 acquiring an additional 1,675 shares during the period. Finally, FNY Investment Advisers LLC acquired a new position in CareDx in the third quarter valued at approximately $31,000.

Wall Street Analyst Weigh In

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