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

CareDx, Inc (NASDAQ:CDNA) Director Peter Maag sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $25.00, for a total transaction of $125,000.00. Following the sale, the director now owns 330,024 shares in the company, valued at $8,250,600. This represents a 1.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

CareDx Stock Performance

CDNA opened at $25.92 on Thursday. The company has a market cap of $1.39 billion, a PE ratio of -9.60 and a beta of 1.84. The stock has a 50-day moving average of $25.38 and a 200-day moving average of $22.76. CareDx, Inc has a 52-week low of $7.42 and a 52-week high of $34.84.

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

Institutional Investors Weigh In On CareDx

A number of large investors have recently added to or reduced their stakes in CDNA. Millennium Management LLC boosted its position in CareDx by 1,085.4% during the second quarter. Millennium Management LLC now owns 2,140,909 shares of the company’s stock worth $33,248,000 after purchasing an additional 1,960,308 shares during the period. Fred Alger Management LLC boosted its position in CareDx by 517.9% during the second quarter. Fred Alger Management LLC now owns 1,149,602 shares of the company’s stock worth $17,853,000 after purchasing an additional 963,554 shares during the period. FMR LLC boosted its position in CareDx by 802.4% during the third quarter. FMR LLC now owns 625,550 shares of the company’s stock worth $19,533,000 after purchasing an additional 556,230 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in CareDx by 78.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 696,893 shares of the company’s stock worth $21,760,000 after purchasing an additional 306,222 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in shares of CareDx during the third quarter worth approximately $8,012,000.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CDNA shares. Wells Fargo & Company started coverage on shares of CareDx in a research note on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 price objective on the stock. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. The Goldman Sachs Group upped their price objective on shares of CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. HC Wainwright reiterated a “neutral” rating on shares of CareDx in a research note on Tuesday, October 22nd. Finally, BTIG Research dropped their price objective 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.60.

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.