CareDx (NASDAQ:CDNA) Announces Earnings Results

CareDx (NASDAQ:CDNA) released its earnings results on Monday. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.11, Briefing.com reports. The business had revenue of $82.88 million for the quarter, compared to analyst estimates of $80.04 million. CareDx had a negative net margin of 53.73% and a negative return on equity of 53.65%. The business’s revenue was up 23.4% on a year-over-year basis. During the same period last year, the company posted ($0.43) EPS. CareDx updated its FY 2024 guidance to EPS.

CareDx Stock Up 1.4 %

CDNA stock traded up $0.31 during mid-day trading on Wednesday, hitting $23.21. 980,909 shares of the company were exchanged, compared to its average volume of 902,860. The business has a fifty day simple moving average of $27.70 and a 200-day simple moving average of $20.96. The firm has a market capitalization of $1.22 billion, a P/E ratio of -8.48 and a beta of 1.80. CareDx has a 12-month low of $6.11 and a 12-month high of $34.84.

Wall Street Analyst Weigh In

CDNA has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their price objective on CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Wells Fargo & Company assumed coverage on shares of CareDx in a report on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 price objective for the company. HC Wainwright reaffirmed a “neutral” rating on shares of CareDx in a research note on Tuesday, October 22nd. Finally, Craig Hallum increased their price target on shares of CareDx from $22.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. One equities research 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.60.

Insider Activity

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

CareDx Company Profile

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.