John Walter Hanna, Jr. Sells 39,900 Shares of CareDx (NASDAQ:CDNA) Stock

CareDx, Inc. (NASDAQ:CDNA) CEO John Walter Hanna, Jr. sold 39,900 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $29.24, for a total value of $1,166,676.00. Following the completion of the transaction, the chief executive officer directly owned 661,959 shares of the company’s stock, valued at approximately $19,355,681.16. The trade was a 5.68% decrease in their position. The transaction was disclosed in a 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 Price Performance

CareDx stock opened at $29.25 on Thursday. The firm has a 50 day simple moving average of $22.90 and a 200-day simple moving average of $20.35. The stock has a market capitalization of $1.51 billion, a PE ratio of -182.81 and a beta of 2.43. CareDx, Inc. has a 12-month low of $10.96 and a 12-month high of $29.58.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.23. The business 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% on a year-over-year basis. During the same quarter last year, the business earned $0.09 earnings per share. On average, analysts forecast that CareDx, Inc. will post 0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CareDx

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bamco Inc. NY lifted its holdings in shares of CareDx by 29.5% in the third quarter. Bamco Inc. NY now owns 3,155,180 shares of the company’s stock valued at $45,876,000 after purchasing an additional 719,523 shares in the last quarter. State Street Corp raised its position in CareDx by 6.7% during the fourth quarter. State Street Corp now owns 2,737,752 shares of the company’s stock valued at $51,579,000 after buying an additional 171,303 shares during the period. Deerfield Management Company L.P. acquired a new position in CareDx during the third quarter valued at $31,857,000. Braidwell LP purchased a new stake in CareDx in the 3rd quarter worth about $31,738,000. Finally, ARK Investment Management LLC lifted its stake in CareDx by 3.4% in the 3rd quarter. ARK Investment Management LLC now owns 2,170,625 shares of the company’s stock worth $31,561,000 after acquiring an additional 70,468 shares in the last quarter.

Analyst Ratings Changes

Several brokerages have recently weighed in on CDNA. BTIG Research upped their price objective on CareDx from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Weiss Ratings raised CareDx from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, June 26th. Finally, Wall Street Zen upgraded shares of CareDx from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 3rd. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, CareDx has a consensus rating of “Hold” and an average 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.