Key Points
- CareDx CEO John Walter Hanna, Jr. sold 4,835 shares on June 4 at an average price of $24.00, totaling $116,040. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Hanna still owned 671,640 shares valued at about $16.1 million, and the sale represented a 0.71% decrease in his position.
- CareDx shares were down 1.3% to $21.95, while the company recently reported better-than-expected quarterly results with EPS of $0.34 and revenue of $117.7 million, both above analyst estimates.
CareDx, Inc. (NASDAQ:CDNA - Get Free Report) CEO John Walter Hanna, Jr. sold 4,835 shares of the firm's stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $24.00, for a total transaction of $116,040.00. Following the completion of the sale, the chief executive officer owned 671,640 shares of the company's stock, valued at $16,119,360. This trade represents a 0.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
CareDx Stock Down 1.3%
Shares of NASDAQ:CDNA opened at $21.95 on Tuesday. CareDx, Inc. has a fifty-two week low of $10.96 and a fifty-two week high of $24.02. The firm's 50-day simple moving average is $20.32 and its 200-day simple moving average is $19.43. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -137.19 and a beta of 2.49.
CareDx (NASDAQ:CDNA - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.23. The firm had revenue of $117.70 million during the quarter, compared to analysts' expectations 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 for the quarter was up 39.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 earnings per share. On average, research analysts forecast that CareDx, Inc. will post 0.22 EPS for the current year.
Analyst Upgrades and Downgrades
Several research firms have recently commented on CDNA. Wall Street Zen raised CareDx from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 3rd. BTIG Research upped their price objective on CareDx from $26.00 to $28.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Wells Fargo & Company increased their price objective on CareDx from $18.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 25th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of CareDx in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $25.00.
View Our Latest Report on CDNA
Institutional Investors Weigh In On CareDx
A number of institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE raised its holdings in CareDx by 44.9% during the first quarter. Bank of America Corp DE now owns 470,665 shares of the company's stock worth $8,171,000 after purchasing an additional 145,840 shares during the last quarter. Janus Henderson Group PLC grew its holdings in CareDx by 10.1% in the first quarter. Janus Henderson Group PLC now owns 316,519 shares of the company's stock valued at $5,495,000 after purchasing an additional 28,958 shares during the last quarter. Amundi purchased a new position in shares of CareDx in the first quarter valued at $206,000. Quantinno Capital Management LP purchased a new position in shares of CareDx in the first quarter valued at $298,000. Finally, Renaissance Technologies LLC raised its stake in shares of CareDx by 7.2% during the 1st quarter. Renaissance Technologies LLC now owns 1,184,398 shares of the company's stock worth $20,561,000 after buying an additional 79,200 shares during the last quarter.
CareDx Company Profile
(
Get Free Report)
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.
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