Key Points
- CareDx CEO John Walter Hanna, Jr. sold 21,998 shares on June 11 at an average price of $24.02, totaling about $528,392. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Hanna still owned 649,642 shares worth roughly $15.6 million, representing a 3.28% reduction in his stake. CareDx shares were trading near their 52-week high, opening at $24.08 and up 4.8% on the day.
- CareDx recently reported better-than-expected quarterly results, with EPS of $0.34 versus $0.11 expected and revenue up 39.3% year over year. Analysts currently rate the stock a Hold on average, with a consensus price target of $25.00.
CareDx, Inc. (NASDAQ:CDNA - Get Free Report) CEO John Walter Hanna, Jr. sold 21,998 shares of CareDx stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $24.02, for a total value of $528,391.96. Following the completion of the transaction, the chief executive officer owned 649,642 shares of the company's stock, valued at approximately $15,604,400.84. The trade was a 3.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
CareDx Stock Up 4.8%
Shares of CDNA stock opened at $24.08 on Tuesday. The business has a 50 day moving average of $20.93 and a two-hundred day moving average of $19.66. CareDx, Inc. has a 52 week low of $10.96 and a 52 week high of $24.13. The company has a market cap of $1.24 billion, a P/E ratio of -150.50 and a beta of 2.49.
CareDx (NASDAQ:CDNA - Get Free Report) last issued its earnings results on Tuesday, April 28th. The company reported $0.34 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $102.03 million. During the same period in the previous year, the firm posted $0.09 earnings per share. CareDx's quarterly revenue was up 39.3% compared to the same quarter last year. Analysts expect that CareDx, Inc. will post 0.22 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on CDNA. BTIG Research lifted their target price on CareDx from $26.00 to $28.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Weiss Ratings reiterated a "sell (d)" rating on shares of CareDx in a research report on Wednesday, May 27th. Wall Street Zen upgraded CareDx from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 3rd. Finally, Wells Fargo & Company boosted 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. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $25.00.
View Our Latest Research Report on CareDx
Institutional Investors Weigh In On CareDx
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in CareDx by 1.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 39,218 shares of the company's stock worth $739,000 after purchasing an additional 711 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in CareDx by 4.8% during the second quarter. The Manufacturers Life Insurance Company now owns 27,742 shares of the company's stock worth $542,000 after purchasing an additional 1,280 shares in the last quarter. Quarry LP bought a new position in shares of CareDx in the fourth quarter valued at $25,000. Allspring Global Investments Holdings LLC increased its holdings in shares of CareDx by 9.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 19,091 shares of the company's stock valued at $365,000 after buying an additional 1,675 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new position in shares of CareDx in the third quarter valued at $31,000.
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.
Further Reading
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