CareDx (NASDAQ:CDNA) Announces Quarterly Earnings Results

CareDx (NASDAQ:CDNA - Get Free Report) posted its quarterly earnings results on Monday. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the previous year, the firm posted ($0.43) earnings per share. The company's quarterly revenue was up 23.4% compared to the same quarter last year. CareDx updated its FY 2024 guidance to EPS.

CareDx Stock Performance

CDNA stock traded down $0.03 during mid-day trading on Tuesday, reaching $22.90. 1,713,788 shares of the stock traded hands, compared to its average volume of 902,495. CareDx has a one year low of $6.11 and a one year high of $34.84. The stock has a market capitalization of $1.21 billion, a PE ratio of -8.48 and a beta of 1.80. The business has a 50-day moving average price of $27.88 and a two-hundred day moving average price of $20.86.

Insider Activity

In related news, insider Alexander L. Johnson sold 34,231 shares of the company's stock in a transaction dated 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 completion of the sale, the insider now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related 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 sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander L. Johnson sold 34,231 shares of CareDx stock in a transaction on Monday, August 19th. The stock was 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 approximately $9,561,179.65. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,340 shares of company stock valued at $3,025,415. 4.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wells Fargo & Company assumed coverage on shares of CareDx in a report on Tuesday, August 27th. They set an "underweight" rating and a $28.00 target price on the stock. BTIG Research decreased their price target on shares of CareDx from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday. Craig Hallum increased 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. HC Wainwright reissued a "neutral" rating on shares of CareDx in a report on Tuesday, October 22nd. Finally, StockNews.com raised shares of CareDx from a "hold" rating to a "buy" rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, CareDx currently has an average rating of "Moderate Buy" and an average 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.