CareDx (NASDAQ:CDNA) Director Sells $925,600.00 in Stock

CareDx, Inc. (NASDAQ:CDNA) Director George Bickerstaff sold 20,000 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $46.28, for a total transaction of $925,600.00. Following the transaction, the director owned 134,061 shares in the company, valued at approximately $6,204,343.08. This trade represents a 12.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

CareDx Price Performance

Shares of CDNA stock traded down $0.69 on Thursday, hitting $44.81. The company’s stock had a trading volume of 789,941 shares, compared to its average volume of 838,168. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 21.65 and a beta of 2.39. CareDx, Inc. has a fifty-two week low of $11.26 and a fifty-two week high of $49.76. The firm’s fifty day moving average price is $30.09 and its 200-day moving average price is $23.18.

CareDx (NASDAQ:CDNA) last posted its earnings results on Thursday, July 30th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.14. CareDx had a return on equity of 2.87% and a net margin of 24.23%.The company had revenue of $131.95 million for the quarter, compared to analyst estimates of $114.05 million. During the same period last year, the company earned ($0.16) earnings per share. The business’s revenue was up 52.2% compared to the same quarter last year. Analysts predict that CareDx, Inc. will post 0.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CDNA. HC Wainwright reissued a “neutral” rating and issued a $46.00 price target on shares of CareDx in a research report on Friday, July 31st. William Blair raised shares of CareDx to a “hold” rating in a research report on Thursday, July 16th. Weiss Ratings upgraded shares of CareDx from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, July 30th. Wall Street Zen upgraded CareDx from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. Finally, BTIG Research increased their target price on CareDx from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday. Two 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $47.75.

Institutional Investors Weigh In On CareDx

A number of institutional investors have recently bought and sold shares of CDNA. Bank of New York Mellon Corp acquired a new position in shares of CareDx in the 2nd quarter valued at $4,874,000. State of Wyoming bought a new stake in CareDx in the second quarter valued at about $227,000. GSA Capital Partners LLP bought a new stake in CareDx in the second quarter valued at about $725,000. Bank of America Corp DE raised its position in CareDx by 44.9% in 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 in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in CareDx by 10.1% during the first quarter. Janus Henderson Group PLC now owns 316,519 shares of the company’s stock worth $5,495,000 after purchasing an additional 28,958 shares during the period.

About CareDx

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.