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

CareDx (NASDAQ:CDNA) released its quarterly earnings results on Monday. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.11, Briefing.com reports. CareDx had a negative net margin of 53.73% and a negative return on equity of 53.65%. The company had revenue of $82.88 million for the quarter, compared to analyst estimates of $80.04 million. During the same period last year, the firm earned ($0.43) earnings per share. The firm’s revenue was up 23.4% on a year-over-year basis. CareDx updated its FY 2024 guidance to EPS.

CareDx Stock Down 0.5 %

CDNA traded down $0.12 on Tuesday, hitting $22.81. The company’s stock had a trading volume of 839,142 shares, compared to its average volume of 898,408. The firm has a market cap of $1.20 billion, a P/E ratio of -8.50 and a beta of 1.80. The company’s 50 day simple moving average is $27.88 and its 200-day simple moving average is $20.86. CareDx has a 12 month low of $6.11 and a 12 month high of $34.84.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. HC Wainwright reaffirmed a “neutral” rating on shares of CareDx in a report on Tuesday, October 22nd. Wells Fargo & Company began coverage on CareDx in a research report on Tuesday, August 27th. They set an “underweight” rating and a $28.00 target price for the company. Craig Hallum boosted their price target on shares of CareDx from $22.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. BTIG Research upgraded shares of 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. Finally, StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. One research 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 data from MarketBeat.com, CareDx has a consensus rating of “Moderate Buy” and an average price target of $30.60.

Insider Transactions at CareDx

In other CareDx news, insider Alexander L. Johnson sold 21,557 shares of the firm’s 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 owns 284,983 shares in the company, valued at $9,284,746.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Peter Maag sold 35,552 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Alexander L. Johnson sold 21,557 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now directly owns 284,983 shares of the company’s stock, valued at approximately $9,284,746.14. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 91,340 shares of company stock valued at $3,025,415 over the last three months. Company insiders own 4.90% of the company’s stock.

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.