CareDx (NASDAQ:CDNA) Announces Earnings Results, Beats Estimates By $0.11 EPS

CareDx (NASDAQ:CDNA) issued its earnings results on Monday. The company reported ($0.14) EPS for the quarter, beating the consensus estimate 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 firm’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same period last year, the business posted ($0.43) EPS. CareDx updated its FY 2024 guidance to EPS.

CareDx Price Performance

CDNA stock traded up $0.23 on Thursday, reaching $23.44. 363,669 shares of the company traded hands, compared to its average volume of 900,225. The company has a market cap of $1.24 billion, a P/E ratio of -8.60 and a beta of 1.80. CareDx has a one year low of $6.11 and a one year high of $34.84. The firm has a fifty day simple moving average of $27.56 and a 200-day simple moving average of $20.97.

Insider Activity

In related news, Director Peter Maag sold 35,552 shares of the business’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 value of $1,174,638.08. Following the completion of the transaction, the director now directly owns 330,024 shares in the company, valued at $10,903,992.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Alexander L. Johnson sold 21,557 shares of the firm’s stock in a transaction that occurred 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 approximately $9,284,746.14. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Peter Maag sold 35,552 shares of the business’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 value 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 trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 91,340 shares of company stock worth $3,025,415 over the last 90 days. 4.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently weighed in on CDNA. Craig Hallum upped their price objective 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. StockNews.com upgraded 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 CareDx in a research report on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 price objective for the company. 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 research note on Wednesday, October 16th. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of CareDx in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.