Key Points
- CareDx director Christine Cournoyer sold 16,000 shares for approximately $751,040 at an average price of $46.94 under a pre-arranged Rule 10b5-1 plan, reducing her direct ownership by 27.14% to 42,943 shares.
- CareDx reported strong quarterly results, with EPS of $0.37 versus the $0.23 consensus and revenue of $131.95 million, up 52.2% year over year and above expectations.
- Analyst sentiment remains mixed: the stock has a consensus “Hold” rating and an average price target of $47.75, while shares opened at $44.81 after trading down 1.5%.
CareDx, Inc. (NASDAQ:CDNA - Get Free Report) Director Christine Cournoyer sold 16,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $46.94, for a total value of $751,040.00. Following the completion of the sale, the director directly owned 42,943 shares of the company's stock, valued at approximately $2,015,744.42. The trade was a 27.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
CareDx Trading Down 1.5%
Shares of NASDAQ CDNA opened at $44.81 on Friday. CareDx, Inc. has a 12 month low of $11.26 and a 12 month high of $49.76. The stock has a 50 day moving average of $30.54 and a 200-day moving average of $23.36. The company has a market capitalization of $2.32 billion, a P/E ratio of 21.65 and a beta of 2.39.
CareDx (NASDAQ:CDNA - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.14. CareDx had a return on equity of 2.87% and a net margin of 24.23%.The business had revenue of $131.95 million for the quarter, compared to analysts' expectations of $114.05 million. During the same quarter in the prior year, the business earned ($0.16) EPS. The firm's revenue for the quarter was up 52.2% on a year-over-year basis. Analysts predict that CareDx, Inc. will post 0.22 EPS for the current fiscal year.
Institutional Investors Weigh In On CareDx
A number of large investors have recently added to or reduced their stakes in CDNA. Quarry LP bought a new position in CareDx during the 4th quarter worth $25,000. Meeder Asset Management Inc. bought a new stake in shares of CareDx during the 4th quarter valued at $79,000. Quantbot Technologies LP bought a new stake in shares of CareDx during the 3rd quarter valued at $89,000. CWM LLC grew its holdings in shares of CareDx by 119.1% during the 4th quarter. CWM LLC now owns 7,407 shares of the company's stock worth $140,000 after purchasing an additional 4,026 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of CareDx by 120.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,608 shares of the company's stock worth $149,000 after purchasing an additional 4,160 shares in the last quarter.
Analyst Upgrades and Downgrades
Several brokerages recently commented on CDNA. HC Wainwright reaffirmed a "neutral" rating and set a $46.00 target price on shares of CareDx in a report on Friday, July 31st. Wall Street Zen raised shares of CareDx from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 3rd. Craig Hallum upgraded shares of CareDx from a "hold" rating to a "buy" rating and set a $64.00 price objective for the company in a research report on Monday. William Blair upgraded CareDx to a "hold" rating in a report on Thursday, July 16th. Finally, BTIG Research boosted their price objective on CareDx from $45.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, CareDx currently has a consensus rating of "Hold" and an average target price of $47.75.
View Our Latest Analysis on CareDx
About CareDx
(
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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