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

CareDx, Inc. (NASDAQ:CDNA) CEO John Walter Hanna, Jr. sold 39,900 shares of CareDx stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $29.24, for a total value of $1,166,676.00. Following the transaction, the chief executive officer owned 661,959 shares of the company’s stock, valued at $19,355,681.16. This trade represents a 5.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CareDx Stock Down 2.7%

Shares of CareDx stock opened at $28.50 on Wednesday. CareDx, Inc. has a 52 week low of $10.96 and a 52 week high of $29.58. The business has a 50 day moving average price of $22.74 and a 200-day moving average price of $20.28. The company has a market cap of $1.47 billion, a PE ratio of -178.12 and a beta of 2.49.

CareDx (NASDAQ:CDNA) last announced its earnings results on Tuesday, April 28th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $117.70 million for the quarter, compared to analysts’ expectations of $102.03 million. During the same quarter in the previous year, the firm earned $0.09 earnings per share. CareDx’s quarterly revenue was up 39.3% on a year-over-year basis. As a group, research analysts anticipate that CareDx, Inc. will post 0.22 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on CDNA shares. BTIG Research increased their target price on shares of CareDx from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Weiss Ratings upgraded shares of CareDx from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday. Finally, Wall Street Zen raised 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 company. Based on data from MarketBeat, CareDx has an average rating of “Hold” and a consensus target price of $25.00.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Deerfield Management Company L.P. bought a new stake in shares of CareDx during the 3rd quarter worth $31,857,000. Braidwell LP purchased a new stake in CareDx during the third quarter worth about $31,738,000. Boston Partners increased its holdings in CareDx by 2,776.5% during the fourth quarter. Boston Partners now owns 901,929 shares of the company’s stock worth $16,994,000 after buying an additional 870,574 shares during the last quarter. Bamco Inc. NY raised its position in CareDx by 29.5% in the third quarter. Bamco Inc. NY now owns 3,155,180 shares of the company’s stock worth $45,876,000 after acquiring an additional 719,523 shares during the period. Finally, Amova Asset Management Americas Inc. raised its position in CareDx by 40.8% in the third quarter. Amova Asset Management Americas Inc. now owns 1,740,064 shares of the company’s stock worth $25,283,000 after acquiring an additional 504,473 shares during the period.

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.