Insider Selling: CareDx, Inc (NASDAQ:CDNA) CMO Sells $726,470.71 in Stock

CareDx, Inc (NASDAQ:CDNA) CMO Sasha King sold 8,071 shares of the business’s stock in a transaction that occurred on Monday, June 7th. The stock was sold at an average price of $90.01, for a total transaction of $726,470.71. Following the completion of the sale, the chief marketing officer now owns 50,567 shares in the company, valued at $4,551,535.67. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

NASDAQ:CDNA opened at $92.78 on Friday. The firm has a market capitalization of $4.83 billion, a price-to-earnings ratio of -319.92 and a beta of 0.67. CareDx, Inc has a 1-year low of $29.85 and a 1-year high of $99.83. The company’s fifty day simple moving average is $76.08.

CareDx (NASDAQ:CDNA) last released its earnings results on Wednesday, May 5th. The company reported ($0.01) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.13. The company had revenue of $67.40 million for the quarter, compared to analysts’ expectations of $60.77 million. CareDx had a negative return on equity of 4.25% and a negative net margin of 6.14%. As a group, sell-side analysts predict that CareDx, Inc will post -0.33 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the business. ARK Investment Management LLC raised its position in CareDx by 9.8% during the first quarter. ARK Investment Management LLC now owns 4,460,824 shares of the company’s stock valued at $303,738,000 after acquiring an additional 398,502 shares in the last quarter. BlackRock Inc. lifted its stake in shares of CareDx by 6.5% in the 1st quarter. BlackRock Inc. now owns 4,099,418 shares of the company’s stock valued at $279,129,000 after purchasing an additional 248,632 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in CareDx by 39.9% in the first quarter. Clearbridge Investments LLC now owns 1,508,384 shares of the company’s stock worth $102,706,000 after purchasing an additional 430,407 shares in the last quarter. Matrix Capital Management Company LP acquired a new position in CareDx during the first quarter worth $97,982,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in CareDx by 4.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,418,341 shares of the company’s stock valued at $102,759,000 after buying an additional 65,135 shares in the last quarter.

Several research firms have issued reports on CDNA. Piper Sandler lifted their price target on shares of CareDx from $93.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, May 6th. Raymond James decreased their target price on CareDx from $98.00 to $90.00 and set a “strong-buy” rating on the stock in a report on Thursday, May 6th. The Goldman Sachs Group started coverage on CareDx in a report on Thursday, June 3rd. They set a “buy” rating and a $95.00 target price for the company. Zacks Investment Research upgraded CareDx from a “sell” rating to a “hold” rating in a research report on Tuesday, April 27th. Finally, TheStreet upgraded CareDx from a “d” rating to a “c-” rating in a report on Friday, March 19th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. CareDx has an average rating of “Buy” and an average target price of $76.13.

CareDx Company Profile

CareDx, Inc discovers, develops, and commercializes diagnostic solutions for transplant patients and caregivers worldwide. It offers 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; and AlloSure Heart, a dd-cfDNA test to identify underlying cell injury leading to organ rejection.

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Insider Buying and Selling by Quarter for CareDx (NASDAQ:CDNA)

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