Insider Selling: CareDx (NASDAQ:CDNA) CEO Sells $407,964.80 in Stock

CareDx, Inc. (NASDAQ:CDNA) CEO John Walter Hanna, Jr. sold 19,280 shares of the business’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $21.16, for a total value of $407,964.80. Following the completion of the sale, the chief executive officer directly owned 597,405 shares of the company’s stock, valued at approximately $12,641,089.80. This trade represents a 3.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

CareDx Price Performance

CDNA opened at $20.42 on Monday. The stock’s 50 day simple moving average is $18.92 and its 200 day simple moving average is $15.87. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 17.16 and a beta of 2.49. CareDx, Inc. has a 1 year low of $10.96 and a 1 year high of $25.55.

CareDx (NASDAQ:CDNA) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.15. CareDx had a return on equity of 20.15% and a net margin of 19.65%.The firm had revenue of $100.06 million during the quarter, compared to analyst estimates of $95.25 million. During the same quarter in the prior year, the firm posted ($0.14) earnings per share. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that CareDx, Inc. will post -0.9 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Craig Hallum downgraded CareDx from a “buy” rating to a “hold” rating and set a $26.00 price target on the stock. in a report on Tuesday, January 6th. Zacks Research upgraded CareDx from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 18th. Wall Street Zen upgraded CareDx from a “hold” rating to a “buy” rating in a report on Sunday, December 21st. BTIG Research raised their price target on CareDx from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Finally, Wells Fargo & Company lifted their target price on shares of CareDx from $14.00 to $18.00 and gave the company an “equal weight” rating in a research note on Monday, December 15th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $26.67.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CDNA. FNY Investment Advisers LLC purchased a new stake in CareDx in the third quarter worth about $31,000. Allworth Financial LP bought a new stake in shares of CareDx in the 2nd quarter worth approximately $40,000. State of Alaska Department of Revenue purchased a new stake in shares of CareDx in the 3rd quarter worth approximately $43,000. Quantbot Technologies LP bought a new position in CareDx during the 3rd quarter valued at approximately $89,000. Finally, RiverPark Advisors LLC bought a new position in CareDx during the 2nd quarter valued at approximately $149,000.

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.