CareDx (NASDAQ:CDNA) Stock: Insider Keith Kennedy Sells 61,961 Shares

Key Points

• CareDx CFO Keith Kennedy sold 61,961 shares for about $4.82 million under a pre-arranged Rule 10b5-1 plan, reducing his direct ownership by 23.73% to 199,147 shares.
• CareDx’s latest quarter beat expectations, with earnings of $0.70 per share versus $0.25 expected and revenue of $139.36 million, up 39.3% year over year.
• Shares recently traded at $84.42; analysts’ consensus rating is Moderate Buy, with an average price target of $64.40.

CareDx, Inc. (NASDAQ:CDNA - Get Free Report) CFO Keith Kennedy sold 61,961 shares of the company's stock in a transaction dated 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 represents a 23.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CareDx Price Performance

Shares of CDNA traded up $5.86 during mid-day trading on Monday, reaching $84.42. The company's stock had a trading volume of 1,093,992 shares, compared to its average volume of 984,770. CareDx, Inc. has a 12-month low of $15.15 and a 12-month high of $90.87. The stock has a market cap of $4.44 billion, a PE ratio of 35.32 and a beta of 2.50. The company's 50 day moving average is $63.23 and its 200 day moving average is $35.20.

CareDx (NASDAQ:CDNA - Get Free Report) last posted its earnings results on Thursday, October 29th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.45. The firm had revenue of $139.36 million during the quarter, compared to analysts' expectations of $121.96 million. CareDx had a return on equity of 9.74% and a net margin of 25.86%. The firm's revenue was up 39.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.03 earnings per share. As a group, sell-side analysts anticipate that CareDx, Inc. will post 0.99 EPS for the current fiscal year.

Institutional Trading of CareDx

A number of large investors have recently bought and sold shares of CDNA. Nykredit A S purchased a new position in CareDx during the 2nd quarter worth $25,000. Integrated Wealth Concepts LLC purchased a new stake in shares of CareDx in the second quarter valued at about $29,000. Reyes Financial Architecture Inc. purchased a new stake in shares of CareDx in the third quarter valued at about $50,000. Signaturefd LLC purchased a new stake in shares of CareDx in the third quarter valued at about $51,000. Finally, Allworth Financial LP purchased a new stake in shares of CareDx in the second quarter valued at about $72,000.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Weiss Ratings raised CareDx from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, October 8th. HC Wainwright reissued a "neutral" rating and issued a $46.00 target price on shares of CareDx in a report on Friday, July 31st. Zacks Research raised CareDx from a "hold" rating to a "strong-buy" rating in a research report on Thursday. BTIG Research upped their target price on CareDx from $81.00 to $92.00 and gave the company a "buy" rating in a research report on Friday, October 30th. Finally, Craig Hallum upgraded CareDx from a "hold" rating to a "buy" rating and set a $64.00 price target on the stock in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, CareDx currently has a consensus rating of "Moderate Buy" and an average price target of $64.40.

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.

The company traces its roots to XDx, founded in 1998, and adopted the CareDx name in 2010.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.