CareDx, Inc. (NASDAQ:CDNA – Get Free Report) CFO Keith Kennedy sold 61,961 shares of the stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $77.82, for a total value of $4,821,805.02. Following the transaction, the chief financial officer directly owned 199,147 shares of the company’s stock, valued at approximately $15,497,619.54. This trade represents a 23.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
CareDx Trading Down 4.3%
Shares of NASDAQ CDNA opened at $80.77 on Wednesday. The stock has a market cap of $4.24 billion, a price-to-earnings ratio of 33.80 and a beta of 2.50. The company’s 50-day moving average price is $64.53 and its 200 day moving average price is $35.82. CareDx, Inc. has a 52 week low of $15.15 and a 52 week high of $90.87.
CareDx (NASDAQ:CDNA – Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.45. CareDx had a return on equity of 9.74% and a net margin of 25.86%. The firm had revenue of $139.36 million during the quarter, compared to the consensus estimate of $121.96 million. During the same period in the previous year, the firm posted $0.03 EPS. The company’s quarterly revenue was up 39.3% compared to the same quarter last year. As a group, research analysts expect that CareDx, Inc. will post 0.99 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of CDNA. Meeder Asset Management Inc. increased its holdings in CareDx by 2,721.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 23,416 shares of the company’s stock valued at $1,522,000 after purchasing an additional 22,586 shares in the last quarter. Global Retirement Partners LLC raised its stake in shares of CareDx by 11,955.6% during the third quarter. Global Retirement Partners LLC now owns 1,085 shares of the company’s stock valued at $71,000 after purchasing an additional 1,076 shares during the period. HighTower Advisors LLC purchased a new position in shares of CareDx in the third quarter valued at $421,000. Thoroughbred Financial Services LLC acquired a new position in CareDx in the 3rd quarter worth $751,000. Finally, Virtus Advisers LLC boosted its position in CareDx by 5.8% in the 3rd quarter. Virtus Advisers LLC now owns 44,475 shares of the company’s stock valued at $2,891,000 after buying an additional 2,429 shares during the last quarter.
Wall Street Analyst Weigh In
CDNA has been the subject of several recent analyst reports. BTIG Research lifted their target price on shares of CareDx from $81.00 to $92.00 and gave the stock a “buy” rating in a research note on Friday, October 30th. Craig Hallum upgraded CareDx from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Monday, August 3rd. William Blair raised CareDx to a “hold” rating in a research note on Thursday, July 16th. Weiss Ratings upgraded shares of CareDx from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Finally, Wall Street Zen lowered shares of CareDx from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.40.
Get Our Latest Stock Analysis on CareDx
About CareDx
CareDx, Inc. is a precision medicine company focused on organ transplantation. It develops and provides diagnostic tests and related services to help clinicians assess transplant recipients and monitor their health over time. Its offerings include AlloSure, a donor-derived cell-free DNA test used to help monitor for organ rejection, and AlloMap, a gene-expression test used in heart transplant care. CareDx also provides histocompatibility testing, clinical tools, and services designed to support patients and transplant care teams.
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