CareDx, Inc.

CDNA · Services-Medical Laboratories · 51.7M shares · +6%/yr ↑ dilution · EDGAR filings ↗

Net buyback after stock comp: -$22M (gross $28M, SBC $49M)

Reference price $24.03 · est. market cap ~$1.2B — last insider sale, 2026-06-15 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)

Grade

C58

Transplant-diagnostics company near breakeven with positive operating cash flow and growth.

Strengths

Positive operating cash flow, growth — OCF margin 11% (76th), revenue +14%
Adequate liquidity — current ratio 2.9 (50th)

Risks

Net loss — operating margin -8%, net income -141%
Reimbursement/competition risk — per 10-K
Path-to-profit execution — per 10-K

Notable findings

Exec changeRecent 8-K item 5.02 8-K ↗
Net lossNet loss (net margin -5.6%)
Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
Strong balance sheetStrong balance sheet — $201M cash & investments
Notable holderHeld by 6 notable fund(s): STATE STREET CORP, ARK Investment Management LLC, RENAISSANCE TECHNOLOGIES LLC +3 more (as of 2026-03-31)
Insider sellingInsider selling — 12 open-market sale(s) by 4 insider(s) (cluster of 4 insiders, ~$3M, last 6mo) Form 4 ↗

Quarterly revenue

2025-06-30 · $87M2025-09-30 · $100M2025-12-31 · $108M2026-03-31 · $118M

Last 4 quarters · from SEC filings.

Key metrics

Operating margin

-8.1%

Net margin

-5.6%

Return on equity

-7.0%

Return on assets

-5.2%

Revenue growth (QoQ)

8.6%

Net-income growth

-140.6%

Current ratio

2.9×

EBITDA

-$16M

Tangible book value

$231M

Cash & investments

$201M

Stock comp / revenue

9.2%

Insider transactions · last 18 months

Date	Insider	Type	Shares	Price
2026-06-15	Valantine Hannah	Sell	12K	$23.11
2026-06-15	Hanna John Walter JR	Sell	18K	$24.03
2026-06-12	Riggsbee Richard Bryan	Grant	9.8K	—
2026-06-12	Goldberg Michael	Grant	9.8K	—
2026-06-12	Cohen Fred E	Grant	9.8K	—
2026-06-12	Bickerstaff George	Grant	9.8K	—
2026-06-12	COURNOYER CHRISTINE	Grant	9.8K	—
2026-06-12	Gunasekaran Suresh	Grant	9.8K	—
2026-06-12	Valantine Hannah	Grant	9.8K	—
2026-06-11	Hanna John Walter JR	Sell	22K	$24.02
2026-06-06	Novack Jeffrey Adam	Tax withheld	1.3K	$21.95
2026-06-04	Hanna John Walter JR	Sell	4.8K	$24.00
2026-05-15	TORRES ARTHUR A	Sell	6.5K	$19.89
2026-05-14	TORRES ARTHUR A	Sell	4.1K	$20.97
2026-05-05	Novack Jeffrey Adam	Sell	2.7K	$20.68
2026-05-01	Novack Jeffrey Adam	Tax withheld	2.9K	$21.50
2026-04-20	Kennedy Keith	Grant	24K	—
2026-04-16	Hanna John Walter JR	Sell	10K	$21.12
2026-04-15	Hanna John Walter JR	Tax withheld	62K	$17.57
2026-04-06	Novack Jeffrey Adam	Tax withheld	1.9K	$17.82
2026-04-02	Goldberg Michael	Grant	2.0K	—
2026-04-01	Meng Jessica	Tax withheld	7.4K	$17.87
2026-04-01	Novack Jeffrey Adam	Tax withheld	4.0K	$17.87
2026-04-01	Hanna John Walter JR	Tax withheld	35K	$17.87
2026-04-01	Kennedy Keith	Tax withheld	12K	$17.87
2026-03-31	Goldberg Michael	Option exercise	12K	$1.22
2026-03-31	Goldberg Michael	Option exercise	5.3K	$5.02
2026-03-31	Goldberg Michael	Option exercise	9.7K	$4.95
2026-02-03	Novack Jeffrey Adam	Sell	4.4K	$20.56
2026-02-02	SMITH NATHAN	Grant	7.9K	—
2026-02-02	SMITH NATHAN	Tax withheld	3.9K	$20.42
2026-02-02	Meng Jessica	Grant	60K	—
2026-02-02	Meng Jessica	Grant	12K	—
2026-02-02	Meng Jessica	Tax withheld	4.4K	$20.42
2026-02-02	Novack Jeffrey Adam	Grant	33K	—
2026-02-02	Novack Jeffrey Adam	Grant	4.3K	—
2026-02-02	Novack Jeffrey Adam	Tax withheld	2.5K	$20.42
2026-02-02	Novack Jeffrey Adam	Tax withheld	3.0K	$20.42
2026-02-02	Hanna John Walter JR	Grant	162K	—
2026-02-02	Hanna John Walter JR	Grant	38K	—
2026-02-02	Hanna John Walter JR	Tax withheld	14K	$20.42
2026-02-02	Kennedy Keith	Grant	60K	—
2026-02-02	Kennedy Keith	Grant	14K	—
2026-02-02	Kennedy Keith	Tax withheld	4.6K	$20.42
2026-02-02	SMITH NATHAN	Grant	33K	—
2026-01-22	Hanna John Walter JR	Sell	19K	$21.16
2026-01-21	Hanna John Walter JR	Sell	200	$21.00
2026-01-15	Hanna John Walter JR	Sell	10K	$21.05
2026-01-06	Goldberg Michael	Grant	1.5K	—
2025-12-04	Novack Jeffrey Adam	Sell	7.0K	$19.15
2025-12-04	Novack Jeffrey Adam	Sell	286	$19.75
2025-11-07	Novack Jeffrey Adam	Sell	2.7K	$15.52
2025-11-06	Novack Jeffrey Adam	Tax withheld	2.2K	$15.01
2025-11-01	Novack Jeffrey Adam	Tax withheld	2.9K	$14.77
2025-10-22	Gunasekaran Suresh	Grant	27K	—
2025-10-06	Goldberg Michael	Grant	1.8K	—
2025-09-12	Meng Jessica	Tax withheld	4.7K	$13.53
2025-09-12	Kennedy Keith	Tax withheld	8.0K	$13.53
2025-09-11	Bickerstaff George	Option exercise	29K	$7.96
2025-08-07	SMITH NATHAN	Grant	42K	—
2025-08-05	Novack Jeffrey Adam	Sell	2.7K	$12.79
2025-08-01	Novack Jeffrey Adam	Tax withheld	2.9K	$12.22
2025-08-01	Jain Abhishek	Tax withheld	7.7K	$12.22
2025-07-08	Goldberg Michael	Grant	1.2K	—
2025-07-07	Novack Jeffrey Adam	Tax withheld	276	$18.45
2025-07-07	Maag Peter	Sell	10K	$18.58
2025-06-18	Valantine Hannah	Sell	11K	$19.16
2025-06-17	Maag Peter	Sell	10K	$19.24
2025-06-13	Goldberg Michael	Grant	12K	—
2025-06-13	Cohen Fred E	Grant	12K	—
2025-06-13	Maag Peter	Grant	12K	—
2025-06-13	Riggsbee Richard Bryan	Grant	12K	—
2025-06-13	Bickerstaff George	Grant	12K	—
2025-06-13	Valantine Hannah	Grant	12K	—
2025-06-13	COURNOYER CHRISTINE	Grant	12K	—
2025-06-13	TORRES ARTHUR A	Grant	12K	—
2025-06-11	HAGSTROM WILLIAM A	Option exercise	15K	$14.74
2025-06-11	HAGSTROM WILLIAM A	Option exercise	4.4K	$7.96
2025-06-11	HAGSTROM WILLIAM A	Sell	19K	$19.90
2025-06-06	Novack Jeffrey Adam	Tax withheld	2.6K	$19.52
2025-05-28	HAGSTROM WILLIAM A	Option exercise	510	$5.85
2025-05-28	HAGSTROM WILLIAM A	Option exercise	4.7K	$4.95
2025-05-28	HAGSTROM WILLIAM A	Option exercise	25K	$7.96
2025-05-28	HAGSTROM WILLIAM A	Sell	30K	$17.45
2025-05-27	Jain Abhishek	Tax withheld	2.0K	$17.63
2025-05-12	COURNOYER CHRISTINE	Option exercise	29K	$7.96
2025-05-12	COURNOYER CHRISTINE	Sell	29K	$15.96
2025-05-06	COURNOYER CHRISTINE	Sell	17K	$14.13
2025-05-05	Novack Jeffrey Adam	Sell	2.7K	$14.70
2025-05-01	Novack Jeffrey Adam	Tax withheld	2.9K	$15.07
2025-05-01	Jain Abhishek	Tax withheld	7.7K	$15.07
2025-04-30	Maag Peter	Sell	13K	$17.23
2025-04-21	Jain Abhishek	Tax withheld	338	$16.94
2025-04-15	Hanna John Walter JR	Tax withheld	61K	$19.16
2025-04-07	Novack Jeffrey Adam	Sell	924	$17.72
2025-04-07	Jain Abhishek	Sell	265	$17.72
2025-04-04	Goldberg Michael	Grant	967	—
2025-03-21	Meng Jessica	Grant	62K	—
2025-03-21	Novack Jeffrey Adam	Grant	23K	—
2025-03-21	Jain Abhishek	Grant	56K	—
2025-03-21	Hanna John Walter JR	Grant	201K	—
2025-03-21	Kennedy Keith	Grant	77K	—
2025-03-10	Bickerstaff George	Sell	20K	$18.36
2025-02-05	Jain Abhishek	Grant	38K	—
2025-02-05	Jain Abhishek	Tax withheld	10.0K	$23.32
2025-02-04	Novack Jeffrey Adam	Sell	3.5K	$23.30
2025-02-03	Novack Jeffrey Adam	Tax withheld	2.0K	$23.32
2025-02-03	Jain Abhishek	Tax withheld	11K	$23.32
2025-01-06	Goldberg Michael	Grant	856	—

All non-derivative Form 4 activity (SEC), newest first.

Supply chain

Customers (1)

Medicare

Suppliers (0)

Named in the 10-K; linked when we track them.

Notable events (8-K)

Date	Items
2026-06-15	Exec/director changeShareholder voteExhibits	filing ↗
2026-04-28	Material agreementResultsReg FDOtherExhibits	filing ↗
2026-04-23	Exec/director change	filing ↗
2026-04-16	Material agreementResultsReg FDExhibits	filing ↗
2026-02-25	ResultsExec/director changeReg FDExhibits	filing ↗
2026-02-24	ResultsExhibits	filing ↗
2026-01-12	ResultsExhibits	filing ↗
2025-12-18	Other	filing ↗

Recent filings

Form	Filed	Period	Accession
8-K	2026-06-15	2026-06-11	0001217234-26-000036 ↗
8-K	2026-04-28	2026-04-24	0001104659-26-050317 ↗
10-Q	2026-04-28	2026-03-31	0001217234-26-000033 ↗
8-K/A	2026-04-23	2026-04-20	0001217234-26-000024 ↗
8-K	2026-04-16	2026-04-15	0001104659-26-043970 ↗
8-K/A	2026-02-25	2026-02-24	0001217234-26-000019 ↗
10-K	2026-02-25	2025-12-31	0001217234-26-000018 ↗
8-K	2026-02-24	2026-02-24	0001217234-26-000015 ↗
8-K	2026-01-12	2026-01-12	0001217234-26-000007 ↗
8-K	2025-12-18	2025-12-18	0001217234-25-000072 ↗
8-K	2025-12-15	2025-12-15	0001217234-25-000068 ↗
10-Q	2025-11-04	2025-09-30	0001217234-25-000063 ↗