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 company’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 directly owned 649,642 shares of the company’s stock, valued at approximately $15,604,400.84. This trade represents a 3.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CareDx Trading Down 3.4%

Shares of CareDx stock opened at $23.25 on Wednesday. The company has a 50 day moving average of $21.03 and a 200-day moving average of $19.70. CareDx, Inc. has a 1-year low of $10.96 and a 1-year high of $24.85. The company has a market cap of $1.20 billion, a PE ratio of -145.31 and a beta of 2.49.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $0.34 EPS for the quarter, beating 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 firm’s revenue was up 39.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.09 EPS. Research analysts forecast that CareDx, Inc. will post 0.22 earnings per share for the current year.

Hedge Funds Weigh In On CareDx

Large investors have recently modified their holdings of the business. Deerfield Management Company L.P. acquired a new stake in shares of CareDx during the third quarter worth $31,857,000. Braidwell LP acquired a new stake in shares of CareDx during the third quarter worth $31,738,000. Boston Partners increased its position in shares of 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 period. Bamco Inc. NY increased its position in shares of CareDx by 29.5% during the third quarter. Bamco Inc. NY now owns 3,155,180 shares of the company’s stock worth $45,876,000 after buying an additional 719,523 shares during the period. Finally, Amova Asset Management Americas Inc. increased its position in shares of CareDx by 40.8% during the third quarter. Amova Asset Management Americas Inc. now owns 1,740,064 shares of the company’s stock worth $25,283,000 after buying an additional 504,473 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CDNA shares. Weiss Ratings reissued a “sell (d)” rating on shares of CareDx in a research note on Wednesday, May 27th. Wells Fargo & Company increased their price objective on shares of CareDx from $18.00 to $21.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 25th. Wall Street Zen raised shares of CareDx from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. Finally, BTIG Research increased their price objective on shares of CareDx from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average 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.