CareDx (CDNA) Shares Down 6.7% After Insider Selling

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.

The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of -27.17 and a beta of 1.21.

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.

COPYRIGHT VIOLATION WARNING: “CareDx (CDNA) Shares Down 6.7% After Insider Selling” was originally published by WKRB News and is the property of of WKRB News. If you are viewing this piece on another publication, it was stolen and republished in violation of international copyright and trademark law. The original version of this piece can be viewed at https://www.wkrb13.com/2019/03/15/caredx-cdna-shares-down-6-7-after-insider-selling.html.

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.

Featured Article: Marijuana Stocks Future Looks Bright

Receive News & Ratings for CareDx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CareDx and related companies with MarketBeat.com's FREE daily email newsletter.