CareDx (NASDAQ:CDNA) Announces Earnings Results

by · The Cerbat Gem

CareDx (NASDAQ:CDNA – Get Free Report) issued its quarterly earnings results on Monday. The company reported ($0.14) earnings per share 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 the consensus estimate of $80.04 million. CareDx had a negative return on equity of 53.65% and a negative net margin of 53.73%. The company’s revenue for the quarter was up 23.4% on a year-over-year basis. During the same period last year, the company earned ($0.43) earnings per share. CareDx updated its FY 2024 guidance to EPS.

CareDx Stock Performance

Shares of NASDAQ:CDNA traded up $0.75 during midday trading on Wednesday, hitting $23.65. 163,886 shares of the stock were exchanged, compared to its average volume of 898,687. The stock has a market capitalization of $1.25 billion, a price-to-earnings 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. The business’s 50-day moving average price is $27.70 and its 200 day moving average price is $20.96.

Insider Transactions at CareDx

In other CareDx news, Director Peter Maag sold 35,552 shares of CareDx stock in a transaction on 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 completion of the sale, the director now directly owns 330,024 shares of the company’s stock, valued at approximately $10,903,992.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Alexander L. Johnson sold 21,557 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $32.58, for a total value of $702,327.06. Following the transaction, the insider now owns 284,983 shares of the company’s stock, valued at $9,284,746.14. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Peter Maag sold 35,552 shares of CareDx stock in a transaction on 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 completion of the transaction, the director now 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 disclosure for this sale can be found here. Insiders sold 91,340 shares of company stock worth $3,025,415 over the last ninety days. 4.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CDNA shares. Wells Fargo & Company initiated coverage on shares of CareDx in a report on Tuesday, August 27th. They set an “underweight” rating and a $28.00 target price for the company. BTIG Research lowered their price objective on shares of CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday. HC Wainwright reiterated a “neutral” rating on shares of CareDx in a research note on Tuesday, October 22nd. Craig Hallum raised 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, The Goldman Sachs Group increased their price target on CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.60.

Check Out Our Latest Report on CareDx

CareDx Company Profile

(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.

Featured Stories