CareDx (NASDAQ:CDNA) Announces Earnings Results

CareDx (NASDAQ:CDNAGet Free Report) 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.

View Our Latest Research Report on CareDx

About CareDx

(Get Free Report)

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.

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Earnings History for CareDx (NASDAQ:CDNA)

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