CareDx (NASDAQ:CDNA) Releases Quarterly Earnings Results, Beats Expectations By $0.11 EPS

CareDx (NASDAQ:CDNA) posted its quarterly 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 company 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 business’s quarterly revenue was up 23.4% on a year-over-year basis. During the same period last year, the business earned ($0.43) EPS. CareDx updated its FY 2024 guidance to EPS.

CareDx Stock Performance

Shares of NASDAQ CDNA traded up $0.23 during trading on Thursday, reaching $23.44. The company had a trading volume of 363,669 shares, compared to its average volume of 900,225. The stock has a market cap of $1.24 billion, a PE ratio of -8.60 and a beta of 1.80. The business’s 50 day moving average price is $27.56 and its 200-day moving average price is $20.97. CareDx has a 52 week low of $6.11 and a 52 week high of $34.84.

Insider Transactions at CareDx

In other news, insider Alexander L. Johnson sold 21,557 shares of the business’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 directly owns 284,983 shares in the company, valued at approximately $9,284,746.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Alexander L. Johnson sold 34,231 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $33.55, for a total transaction of $1,148,450.05. Following the sale, the insider now directly owns 284,983 shares in the company, valued at $9,561,179.65. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Alexander L. Johnson sold 21,557 shares of the business’s 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 sale, the insider now owns 284,983 shares in the company, valued at approximately $9,284,746.14. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 91,340 shares of company stock worth $3,025,415 in the last quarter. 4.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on CDNA. The Goldman Sachs Group increased their price objective on CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. StockNews.com upgraded CareDx from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Wells Fargo & Company initiated coverage on shares of CareDx in a report on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 price target for the company. Craig Hallum upped their price target on CareDx from $22.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, HC Wainwright restated a “neutral” rating on shares of CareDx in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.60.

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.