CareDx, Inc (NASDAQ:CDNA) Director William A. Hagstrom Sells 19,391 Shares of Stock

CareDx, Inc (NASDAQ:CDNA) Director William A. Hagstrom sold 19,391 shares of CareDx stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $19.90, for a total transaction of $385,880.90. Following the sale, the director now owns 53,979 shares in the company, valued at approximately $1,074,182.10. The trade was a 26.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

CareDx Stock Down 1.3%

Shares of CareDx stock opened at $18.59 on Friday. The firm has a market capitalization of $1.04 billion, a P/E ratio of -6.89 and a beta of 2.18. The company has a 50 day moving average price of $17.50 and a 200 day moving average price of $20.27. CareDx, Inc has a 52 week low of $13.18 and a 52 week high of $34.84.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.03. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The company had revenue of $84.69 million for the quarter, compared to the consensus estimate of $84.56 million. During the same quarter in the prior year, the company earned ($0.03) EPS. CareDx’s quarterly revenue was up 17.6% on a year-over-year basis. As a group, research analysts anticipate that CareDx, Inc will post -0.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CareDx

A number of institutional investors have recently added to or reduced their stakes in CDNA. Invesco Ltd. grew its stake in CareDx by 76.1% in the 1st quarter. Invesco Ltd. now owns 2,667,861 shares of the company’s stock valued at $47,355,000 after acquiring an additional 1,153,011 shares during the period. Divisadero Street Capital Management LP acquired a new stake in CareDx during the 4th quarter worth $15,239,000. Chevy Chase Trust Holdings LLC acquired a new stake in CareDx during the 1st quarter worth $9,502,000. Jacobs Levy Equity Management Inc. boosted its stake in CareDx by 52.6% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,243,580 shares of the company’s stock worth $26,625,000 after purchasing an additional 428,864 shares during the last quarter. Finally, Bamco Inc. NY boosted its stake in CareDx by 17.6% during the 4th quarter. Bamco Inc. NY now owns 2,207,299 shares of the company’s stock worth $47,258,000 after purchasing an additional 330,627 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wall Street Zen cut shares of CareDx from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. Stephens restated an “overweight” rating and issued a $40.00 price target on shares of CareDx in a research report on Monday, May 5th. The Goldman Sachs Group reduced their price target on shares of CareDx from $34.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Finally, HC Wainwright restated a “neutral” rating and issued a $25.00 price target on shares of CareDx in a research report on Monday, May 5th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $30.33.

CareDx Company Profile

CareDx, Inc engages in the discovery, development, and commercialization of diagnostic solutions for transplant patients and caregivers in the United States and internationally. It also provides AlloSure Kidney, a donor-derived cell-free DNA (dd-cfDNA) solution for kidney transplant patients; AlloMap Heart, a gene expression solution for heart transplant patients; AlloSure Heart, a dd-cfDNA solution for heart transplant patients; and AlloSure Lung, a dd-cfDNA solution for lung transplant patients.