CareDx, Inc (NASDAQ:CDNA) Director Peter Maag Sells 5,000 Shares

CareDx, Inc (NASDAQ:CDNA) Director Peter Maag sold 5,000 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $25.00, for a total transaction of $125,000.00. Following the transaction, the director now owns 330,024 shares of the company’s stock, valued at approximately $8,250,600. This represents a 1.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

CareDx Trading Down 2.7 %

Shares of CDNA opened at $24.96 on Wednesday. The company’s fifty day simple moving average is $25.44 and its 200-day simple moving average is $22.74. The company has a market cap of $1.34 billion, a P/E ratio of -9.24 and a beta of 1.84. CareDx, Inc has a twelve month low of $7.42 and a twelve month high of $34.84.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.11. The firm had revenue of $82.88 million for the quarter, compared to analysts’ expectations of $80.04 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The business’s revenue for the quarter was up 23.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.43) earnings per share. Analysts predict that CareDx, Inc will post -0.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on CDNA. The Goldman Sachs Group upped their target price on shares of CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. BTIG Research decreased their price target on shares of CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. HC Wainwright reaffirmed a “neutral” rating on shares of CareDx in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company began coverage on shares of CareDx in a research note on Tuesday, August 27th. They set an “underweight” rating and a $28.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.60.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Quarry LP bought a new position in shares of CareDx in the third quarter worth about $27,000. GAMMA Investing LLC increased its position in CareDx by 1,021.8% during the 2nd quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock valued at $34,000 after purchasing an additional 2,013 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in CareDx during the 3rd quarter valued at about $52,000. Plato Investment Management Ltd purchased a new position in CareDx during the 2nd quarter valued at about $62,000. Finally, KBC Group NV purchased a new position in CareDx during the 3rd quarter valued at about $99,000.

About CareDx

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.