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

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

CareDx Price Performance

Shares of NASDAQ:CDNA traded up $1.11 during trading on Monday, hitting $24.08. 903,382 shares of the company were exchanged, compared to its average volume of 717,559. The stock has a market capitalization of $1.24 billion, a P/E ratio of -150.50 and a beta of 2.49. CareDx, Inc. has a 12-month low of $10.96 and a 12-month high of $24.13. The firm’s 50 day moving average price is $20.81 and its 200-day moving average price is $19.62.

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

Institutional Investors Weigh In On CareDx

Several hedge funds have recently modified their holdings of CDNA. First Eagle Investment Management LLC boosted its position in shares of CareDx by 25.4% in the third quarter. First Eagle Investment Management LLC now owns 475,146 shares of the company’s stock worth $6,909,000 after acquiring an additional 96,123 shares during the last quarter. Paragon Associates & Paragon Associates II Joint Venture boosted its position in shares of CareDx by 93.7% in the third quarter. Paragon Associates & Paragon Associates II Joint Venture now owns 425,000 shares of the company’s stock worth $6,180,000 after acquiring an additional 205,597 shares during the last quarter. Aberdeen Group plc acquired a new stake in shares of CareDx in the fourth quarter worth approximately $6,506,000. ARK Investment Management LLC boosted its position in shares of CareDx by 3.4% in the third 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 during the last quarter. Finally, Zweig DiMenna Associates LLC boosted its position in shares of CareDx by 153.8% in the third quarter. Zweig DiMenna Associates LLC now owns 575,000 shares of the company’s stock worth $8,360,000 after acquiring an additional 348,400 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CDNA shares. BTIG Research boosted their target price on shares of CareDx from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Wall Street Zen upgraded shares of CareDx from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 3rd. Weiss Ratings reiterated a “sell (d)” rating on shares of CareDx in a report on Wednesday, May 27th. Finally, Wells Fargo & Company raised their target price on shares of CareDx from $18.00 to $21.00 and gave the company an “equal weight” rating in a report on Wednesday, February 25th. One investment 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. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target 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.