CareDx Inc (NASDAQ:CDNA)’s share price dropped 6.7% during trading on Friday following insider selling activity. The stock traded as low as $35.36 and last traded at $35.59. Approximately 1,104,423 shares traded hands during trading, an increase of 34% from the average daily volume of 825,946 shares. The stock had previously closed at $38.15.
Specifically, Director Michael Goldberg sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $37.36, for a total transaction of $1,868,000.00. Following the transaction, the director now directly owns 84,740 shares of the company’s stock, valued at $3,165,886.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider James P. Yee sold 32,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $23.88, for a total value of $776,100.00. Following the transaction, the insider now directly owns 73,543 shares in the company, valued at $1,756,206.84. The disclosure for this sale can be found here. Insiders have sold 185,822 shares of company stock worth $5,815,664 over the last three months. Insiders own 3.40% of the company’s stock.
Several equities research analysts recently weighed in on the company. Zacks Investment Research raised CareDx from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Thursday, January 3rd. BidaskClub raised CareDx from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 25th. HC Wainwright reaffirmed a “hold” rating and issued a $27.00 price target on shares of CareDx in a research note on Monday, February 4th. Finally, Jefferies Financial Group assumed coverage on CareDx in a research note on Friday, February 15th. They issued a “buy” rating and a $35.00 price target on the stock. Two research analysts have rated the stock with a hold rating, three have given a buy rating and three have assigned a strong buy rating to the company’s stock. CareDx currently has a consensus rating of “Buy” and a consensus target price of $34.00.
CareDx (NASDAQ:CDNA) last issued its quarterly earnings results on Wednesday, March 6th. The company reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.02). The firm had revenue of $23.51 million during the quarter, compared to analysts’ expectations of $23.34 million. CareDx had a negative return on equity of 63.64% and a negative net margin of 61.06%. As a group, equities analysts forecast that CareDx Inc will post -0.16 EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of CareDx in the fourth quarter worth $45,000. First Interstate Bank purchased a new stake in shares of CareDx in the fourth quarter worth $80,000. Great West Life Assurance Co. Can purchased a new stake in shares of CareDx in the fourth quarter worth $81,000. Meeder Asset Management Inc. purchased a new stake in shares of CareDx in the third quarter worth $124,000. Finally, Legal & General Group Plc grew its stake in shares of CareDx by 19.5% in the fourth quarter. Legal & General Group Plc now owns 6,129 shares of the company’s stock worth $154,000 after acquiring an additional 998 shares during the last quarter. 93.20% of the stock is currently owned by institutional investors.
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About CareDx (NASDAQ:CDNA)
CareDx, Inc, a transplant diagnostics company, together with its subsidiaries, focuses on the discovery, development, and commercialization of diagnostic solutions for transplant patients worldwide. The company develops and provides a diagnostic surveillance testing solution for heart and kidney transplant recipients.
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