CareDx (NASDAQ:CDNA) Announces Earnings Results

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

CareDx Stock Performance

NASDAQ CDNA traded up $0.02 on Tuesday, reaching $22.95. The company’s stock had a trading volume of 804,490 shares, compared to its average volume of 898,246. CareDx has a twelve month low of $6.11 and a twelve month high of $34.84. The firm’s 50 day moving average is $27.88 and its two-hundred day moving average is $20.86. The stock has a market cap of $1.21 billion, a PE ratio of -8.40 and a beta of 1.80.

Insider Buying and Selling

In related news, Director Peter Maag sold 35,552 shares of the firm’s 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 sale, the director now directly owns 330,024 shares in the company, valued at approximately $10,903,992.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Peter Maag sold 35,552 shares of the 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 owns 330,024 shares in the company, valued at $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 can be accessed through the SEC website. Also, insider Alexander L. Johnson sold 21,557 shares of CareDx stock in a transaction dated Wednesday, August 21st. The stock was 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 in the company, valued at $9,284,746.14. This 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 worth $3,025,415 in the last ninety days. 4.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. StockNews.com raised CareDx from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. HC Wainwright restated a “neutral” rating on shares of CareDx in a research note on Tuesday, October 22nd. Wells Fargo & Company assumed coverage on shares of CareDx in a research report on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 target price for the company. BTIG Research upgraded shares of CareDx from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Monday, August 19th. Finally, The Goldman Sachs Group upped their price target on shares of CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, CareDx presently has a consensus rating of “Moderate Buy” and an average target price of $30.60.

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.