Insider Selling: CareDx, Inc (NASDAQ:CDNA) Director Sells 19,391 Shares of Stock

CareDx, Inc (NASDAQ:CDNA - Get Free Report) Director William A. Hagstrom sold 19,391 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $19.90, for a total value of $385,880.90. Following the completion of the sale, the director now directly owns 53,979 shares in the company, valued at $1,074,182.10. This trade represents a 26.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

CareDx Stock Performance

Shares of NASDAQ CDNA traded down $0.24 during midday trading on Friday, hitting $18.59. 590,404 shares of the stock traded hands, compared to its average volume of 915,369. The company has a market cap of $1.04 billion, a PE ratio of -6.89 and a beta of 2.18. CareDx, Inc has a one year low of $13.18 and a one year high of $34.84. The business has a 50 day moving average price of $17.50 and a two-hundred day moving average price of $20.24.

CareDx (NASDAQ:CDNA - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.03. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The company had revenue of $84.69 million for the quarter, compared to analysts' expectations of $84.56 million. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. CareDx's quarterly revenue was up 17.6% on a year-over-year basis. As a group, equities research analysts forecast that CareDx, Inc will post -0.9 EPS for the current fiscal year.

Institutional Investors Weigh In On CareDx

Institutional investors have recently bought and sold shares of the stock. Sterling Capital Management LLC grew its holdings in CareDx by 771.2% during the fourth quarter. Sterling Capital Management LLC now owns 1,272 shares of the company's stock worth $27,000 after buying an additional 1,126 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of CareDx by 553.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company's stock worth $84,000 after buying an additional 3,322 shares in the last quarter. State of Wyoming bought a new position in shares of CareDx during the 4th quarter worth approximately $91,000. PNC Financial Services Group Inc. lifted its position in shares of CareDx by 20,200.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,466 shares of the company's stock worth $79,000 after buying an additional 4,444 shares in the last quarter. Finally, Plato Investment Management Ltd lifted its position in shares of CareDx by 34.1% during the 4th quarter. Plato Investment Management Ltd now owns 5,390 shares of the company's stock worth $116,000 after buying an additional 1,370 shares in the last quarter.

Analyst Ratings Changes

CDNA has been the subject of several research reports. The Goldman Sachs Group dropped their target price on CareDx from $34.00 to $26.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Stephens reiterated an "overweight" rating and issued a $40.00 target price on shares of CareDx in a report on Monday, May 5th. Wall Street Zen downgraded CareDx from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Finally, HC Wainwright restated a "neutral" rating and set a $25.00 price objective on shares of CareDx in a report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $30.33.

CareDx Company Profile

CareDx, Inc engages in the discovery, development, and commercialization of diagnostic solutions for transplant patients and caregivers in the United States and internationally. It also provides AlloSure Kidney, a donor-derived cell-free DNA (dd-cfDNA) solution for kidney transplant patients; AlloMap Heart, a gene expression solution for heart transplant patients; AlloSure Heart, a dd-cfDNA solution for heart transplant patients; and AlloSure Lung, a dd-cfDNA solution for lung transplant patients.