The sell cluster is modest relative to market cap and concentrated in directors, not C-suite. Per Alldredge (2019), cluster sales by directors are weak predictive signals. No CFO/CEO selling. Monitor next 8-K for any material non-public news (e.g., clinical trial readout, CMS coverage expansion) that could have motivated portfolio rebalancing ahead of a catalyst. If CDNA announces positive news (e.g., new transplant center contracts or AlloSure/TruGraf reimbursement update), the insider sales may reflect normal diversification at elevated prices.
Price Chart
Executive Summary
CareDx directors Cournoyer, Bickerstaff, and Goldberg made open-market sales totaling $3.78M from Aug 4-5 at ~$46-47/share. Combined with General Counsel Novack's cashless tax-withholding surrender earlier in the window, the cluster represents 0.16% of CareDx's $2.3B market cap — a modest but notable insider sell pattern. Directors controlling board seats are selling near multi-year highs, consistent with a rebalancing of personal portfolios after a strong run rather than a bearish signal ahead of near-term catalysts.
Key Financial Metrics
Key Facts
- Three directors sold 80,700 shares via open-market sales totaling $3.78M at $46-47/share on Aug 4-5, 2026
- General Counsel Novack also sold 2,688 open-market shares (~$124K) plus 2,872 shares surrendered for tax withholding
- Total insider sell cluster = $4.04M in gross proceeds (~$3.78M open-market + $124K open-market by Novack + $137K tax-withholding)
- Insider sales represent 0.18% of $2.3B market cap — materially below the 0.5% threshold for 'significant'
- No insider purchases during the cluster window; only cash and non-cash dispositions
- Past 30 days: $3.9M in cumulative insider sales (current cluster + prior activity)
Financial Impact
$4.04M in total insider gross proceeds over 7 days (0.18% of market cap)
Risk Factors
- Profit-taking ahead of potential Q3 2026 earnings disappointment
- Insiders may continue selling if the stock maintains its ~$47 level, signaling lack of confidence in near-term upside
- General Counsel Novack's tax-withholding surrender (2,872 shares) is routine and non-directional
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-CDNA-1786082639522 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 6, 2026 8w ago | Insider Cluster | $44.81 $47.38 | ▲ +5.74% | ▲ +4.52% | $66.59 (+48.61%) |
Aug 4, 2026 8w ago | 144 | $45.50 $47.31 | ▲ +3.98% | ▲ +3.63% | $66.59 (+46.35%) |
Jul 17, 2026 11w ago | Insider Cluster | $39.73 $37.61 | ▼ −5.34% | ▼ −4.65% | $66.59 (+67.61%) |
Jun 16, 2026 15w ago | Insider Cluster | $23.48 $27.13 | ▲ +15.55% | ▲ +16.59% | $66.59 (+183.60%) |
Jun 5, 2026 16w ago | DEFA14A | $21.95 $24.08 | ▲ +9.70% | ▲ +7.59% | $66.59 (+203.37%) |
Apr 28, 2026 22w ago | S-3ASR | $20.80 $20.70 | ▼ −0.48% | ▼ −3.59% | $66.59 (+220.14%) |
Apr 16, 2026 24w ago | 8-K | $22.42 $20.06 | ▼ −10.53% | ▼ −11.51% | $66.59 (+197.01%) |
Feb 25, 2026 31w ago | 8-K/A | $18.46 $19.06 | ▲ +3.25% | ▲ +4.35% | $66.59 (+260.73%) |
Feb 24, 2026 31w ago | 8-K | $18.46 $19.06 | ▲ +3.25% | ▲ +4.35% | $66.59 (+260.73%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access