Christine Cournoyer Sells 16,000 Shares of CareDx (NASDAQ:CDNA) Stock

Key Points

• CareDx director Christine Cournoyer sold 16,000 shares at an average price of $46.94, generating $751,040. The Rule 10b5-1 transaction reduced her ownership by 27.14% to 42,943 shares.
• CareDx reported stronger-than-expected quarterly results, with EPS of $0.37 versus the $0.23 consensus and revenue of $131.95 million, up 52.2% year over year.
• Analyst sentiment remains mixed: the stock carries a consensus “Hold” rating and a $47.75 average price target, although BTIG and Craig Hallum raised their targets to $60 and $64, respectively.

CareDx, Inc. (NASDAQ:CDNA - Get Free Report) Director Christine Cournoyer sold 16,000 shares of the business'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 owned 42,943 shares of the company's stock, valued at $2,015,744.42. This trade represents a 27.14% decrease in their ownership of the stock. The transaction was disclosed in a 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 Stock Performance

Shares of CDNA traded down $0.69 during mid-day trading on Thursday, hitting $44.81. 789,941 shares of the company were exchanged, compared to its average volume of 838,168. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 21.65 and a beta of 2.39. CareDx, Inc. has a 1-year low of $11.26 and a 1-year high of $49.76. The company has a 50 day moving average of $30.09 and a 200-day moving average of $23.18.

CareDx (NASDAQ:CDNA - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.37 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $131.95 million for the quarter, compared to analyst estimates of $114.05 million. During the same period in the previous year, the company posted ($0.16) earnings per share. The business's revenue was up 52.2% on a year-over-year basis. Research analysts anticipate that CareDx, Inc. will post 0.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CDNA shares. HC Wainwright reissued a "neutral" rating and issued a $46.00 price target on shares of CareDx in a research note on Friday, July 31st. Wall Street Zen upgraded shares of CareDx from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 3rd. BTIG Research raised their target price on shares of CareDx from $45.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday. Craig Hallum upgraded CareDx from a "hold" rating to a "buy" rating and set a $64.00 target price on the stock in a report on Monday. Finally, William Blair upgraded CareDx to a "hold" rating in a research report on Thursday, July 16th. 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's stock. According to data from MarketBeat.com, CareDx presently has a consensus rating of "Hold" and an average price target of $47.75.

Institutional Investors Weigh In On CareDx

A number of hedge funds have recently added to or reduced their stakes in CDNA. Aberdeen Group plc acquired a new stake in shares of CareDx during the fourth quarter worth about $6,506,000. Fidelis Capital Partners LLC purchased a new position in CareDx in the 4th quarter valued at approximately $420,000. Globeflex Capital L P raised its holdings in CareDx by 49.4% during the first quarter. Globeflex Capital L P now owns 119,252 shares of the company's stock worth $2,070,000 after purchasing an additional 39,457 shares during the last quarter. Renaissance Technologies LLC boosted its position in CareDx by 7.2% during the first quarter. Renaissance Technologies LLC now owns 1,184,398 shares of the company's stock worth $20,561,000 after purchasing an additional 79,200 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its holdings in CareDx by 15.1% in the fourth quarter. First Eagle Investment Management LLC now owns 546,722 shares of the company's stock valued at $10,300,000 after purchasing an additional 71,576 shares during the last quarter.

CareDx Company Profile

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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