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In a recent transaction, Abhishek Jain, the Chief Financial Officer of CareDx, Inc. (NASDAQ:CDNA), a $1.06 billion market cap healthcare company, sold 265 shares of the company's common stock. The company's stock has shown significant volatility lately, with a -7.78% return over the past week, according to InvestingPro data. The shares were sold at a price of $17.72 each, totaling $4,695. Following this transaction, Jain holds 337,418 shares directly.
It is important to note that the shares were withheld by the issuer to satisfy tax withholding obligations related to the vesting of restricted stock units.
In other recent news, CareDx, Inc. has reported significant financial results for the fourth quarter and full year of 2024. The company achieved a total revenue of $86.6 million in Q4, which marks a 32% increase year-over-year and exceeded analysts' expectations of $85.5 million. This growth was driven primarily by testing services revenue, which rose to $63.8 million, a 37% increase from the previous year. CareDx also reported a notable net income of $87.7 million, largely due to a $96.3 million reversal of litigation accrual after a favorable court ruling. For the full year 2024, CareDx's revenue reached $333.8 million, a 19% increase from the previous year, with testing revenue contributing $249.4 million.
Additionally, CareDx has adjusted its 2025 revenue guidance to be between $365 million and $375 million, anticipating approximately 17% year-over-year growth. In terms of market analysis, H.C. Wainwright has adjusted its price target for CareDx to $25.00 from $26.00, maintaining a Neutral rating on the stock. On the corporate governance front, CareDx has amended the severance agreement for its CFO, Abhishek Jain, which includes enhanced benefits in the event of a change of control or termination under specific conditions. These developments reflect CareDx's strategic financial and operational positioning as it moves into 2025.
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