HC Wainwright Predicts CareDx’s Q3 Earnings (NASDAQ:CDNA)

CareDx, Inc (NASDAQ:CDNA) – Research analysts at HC Wainwright lifted their Q3 2024 earnings per share (EPS) estimates for CareDx in a research report issued on Tuesday, October 22nd. HC Wainwright analyst Y. Chen now forecasts that the company will earn ($0.23) per share for the quarter, up from their previous forecast of ($0.25). HC Wainwright currently has a “Neutral” rating on the stock. The consensus estimate for CareDx’s current full-year earnings is ($0.84) per share. HC Wainwright also issued estimates for CareDx’s FY2024 earnings at ($0.81) EPS, Q1 2025 earnings at ($0.19) EPS, Q2 2025 earnings at ($0.16) EPS, Q3 2025 earnings at ($0.14) EPS, Q4 2025 earnings at ($0.10) EPS and FY2025 earnings at ($0.60) EPS.

Several other research analysts have also commented on CDNA. StockNews.com raised CareDx from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. BTIG Research raised CareDx from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Monday, August 19th. The Goldman Sachs Group boosted their price objective on CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Wells Fargo & Company began coverage on CareDx in a report on Tuesday, August 27th. They set an “underweight” rating and a $28.00 price objective for the company. Finally, Craig Hallum boosted their price objective on CareDx from $22.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One investment 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. According to data from MarketBeat.com, CareDx currently has a consensus rating of “Moderate Buy” and an average price target of $30.60.

CareDx Stock Down 0.1 %

Shares of CDNA opened at $23.11 on Thursday. CareDx has a twelve month low of $4.80 and a twelve month high of $34.84. The stock has a market cap of $1.20 billion, a PE ratio of -6.76 and a beta of 1.77. The business’s 50-day moving average price is $29.36 and its 200-day moving average price is $19.99.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.37. CareDx had a negative return on equity of 53.65% and a negative net margin of 53.73%. The firm had revenue of $92.27 million for the quarter, compared to analysts’ expectations of $67.20 million.

Insiders Place Their Bets

In other CareDx news, insider Alexander L. Johnson sold 34,231 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $33.55, for a total value of $1,148,450.05. Following the completion of the sale, the insider now owns 284,983 shares of the company’s stock, valued at $9,561,179.65. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Peter Maag sold 35,552 shares of the company’s stock in a transaction that occurred 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 $10,903,992.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alexander L. Johnson sold 34,231 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $33.55, for a total value of $1,148,450.05. Following the transaction, the insider now owns 284,983 shares of the company’s stock, valued at approximately $9,561,179.65. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 91,340 shares of company stock valued at $3,025,415 over the last quarter. 4.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CareDx

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its holdings in CareDx by 868.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 204,987 shares of the company’s stock worth $6,401,000 after purchasing an additional 183,823 shares in the last quarter. Harbour Capital Advisors LLC bought a new position in CareDx in the third quarter worth $373,000. nVerses Capital LLC raised its holdings in CareDx by 175.0% in the third quarter. nVerses Capital LLC now owns 3,300 shares of the company’s stock worth $103,000 after purchasing an additional 2,100 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in CareDx in the third quarter worth $206,000. Finally, Creative Planning bought a new position in CareDx in the third quarter worth $204,000.

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.