CareDx (NASDAQ:CDNA) Announces Earnings Results

CareDx (NASDAQ:CDNA) announced its quarterly earnings data on Monday. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.11, Briefing.com reports. CareDx had a negative net margin of 53.73% and a negative return on equity of 53.65%. The company had revenue of $82.88 million during the quarter, compared to analysts’ expectations of $80.04 million. During the same quarter in the prior year, the company earned ($0.43) EPS. The firm’s revenue was up 23.4% on a year-over-year basis. CareDx updated its FY 2024 guidance to EPS.

CareDx Trading Up 1.0 %

Shares of CareDx stock traded up $0.24 during trading hours on Thursday, hitting $23.45. 364,690 shares of the company were exchanged, compared to its average volume of 900,369. The business has a 50-day moving average of $27.56 and a 200-day moving average of $20.97. CareDx has a 1 year low of $6.11 and a 1 year high of $34.84. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of -8.60 and a beta of 1.80.

Analyst Ratings Changes

A number of analysts have recently issued reports on CDNA shares. HC Wainwright reaffirmed a “neutral” rating on shares of CareDx in a report on Tuesday, October 22nd. Wells Fargo & Company initiated coverage on shares of CareDx in a research note on Tuesday, August 27th. They set an “underweight” rating and a $28.00 target price on the stock. The Goldman Sachs Group lifted their price objective on shares of CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Craig Hallum boosted their price target on shares of CareDx from $22.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, BTIG Research lowered their target price on shares of CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, CareDx currently has an average rating of “Moderate Buy” and a consensus target price of $29.60.

Insider Buying and Selling

In other CareDx news, Director Peter Maag sold 35,552 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $33.04, for a total value of $1,174,638.08. Following the completion of the transaction, the director now directly owns 330,024 shares in the company, valued at approximately $10,903,992.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Peter Maag sold 35,552 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $33.04, for a total value of $1,174,638.08. Following the sale, the director now owns 330,024 shares in the company, valued at approximately $10,903,992.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Alexander L. Johnson sold 21,557 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $32.58, for a total transaction of $702,327.06. Following the completion of the transaction, the insider now owns 284,983 shares of the company’s stock, valued at approximately $9,284,746.14. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 91,340 shares of company stock valued at $3,025,415 over the last quarter. Company insiders own 4.90% of the company’s stock.

About CareDx

CareDx, Inc engages in the discovery, development, and commercialization of diagnostic solutions for transplant patients and caregivers in the United States and internationally. It also provides AlloSure Kidney, a donor-derived cell-free DNA (dd-cfDNA) solution for kidney transplant patients; AlloMap Heart, a gene expression solution for heart transplant patients; AlloSure Heart, a dd-cfDNA solution for heart transplant patients; and AlloSure Lung, a dd-cfDNA solution for lung transplant patients.