HC Wainwright Issues Positive Outlook for CareDx Earnings

CareDx, Inc (NASDAQ:CDNA - Free Report) - Stock analysts at HC Wainwright upped their Q3 2024 earnings per share (EPS) estimates for shares of CareDx in a research report issued to clients and investors on Tuesday, October 22nd. HC Wainwright analyst Y. Chen now forecasts that the company will post earnings per share of ($0.23) for the quarter, up from their prior estimate of ($0.25). HC Wainwright 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.

A number of other research analysts also recently commented on CDNA. The Goldman Sachs Group boosted their target price on CareDx from $26.00 to $35.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. StockNews.com raised 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 research report on Tuesday, August 27th. They set an "underweight" rating and a $28.00 price objective on the stock. Craig Hallum lifted their target price on shares of CareDx from $22.00 to $32.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Finally, BTIG Research upgraded shares of CareDx from a "neutral" rating to a "buy" rating and set a $40.00 price target on the stock in a research note on Monday, August 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, CareDx currently has an average rating of "Moderate Buy" and a consensus target price of $30.60.

CareDx Stock Down 1.1 %

Shares of CareDx stock traded down $0.26 on Thursday, hitting $22.85. 575,337 shares of the company traded hands, compared to its average volume of 905,549. CareDx has a 12-month low of $4.80 and a 12-month high of $34.84. The company has a market cap of $1.19 billion, a PE ratio of -6.68 and a beta of 1.77. The company has a 50-day moving average price of $29.25 and a 200 day moving average price of $20.01.

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

Insider Buying and Selling at CareDx

In other news, insider Alexander L. Johnson sold 34,231 shares of the business's stock in a transaction 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 completion of the sale, the insider now directly owns 284,983 shares in the company, valued at approximately $9,561,179.65. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Alexander L. Johnson sold 34,231 shares of CareDx stock in a transaction dated 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 transaction, the insider now directly owns 284,983 shares in the company, valued at approximately $9,561,179.65. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $702,327.06. Following the transaction, the insider now directly owns 284,983 shares of the company's stock, valued at $9,284,746.14. This represents a 0.00 % decrease in their position. 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. Insiders own 4.20% of the company's stock.

Institutional Investors Weigh In On CareDx

Several hedge funds and other institutional investors have recently modified their holdings of CDNA. GAMMA Investing LLC lifted its stake in shares of CareDx by 1,021.8% in the second quarter. GAMMA Investing LLC now owns 2,210 shares of the company's stock valued at $34,000 after buying an additional 2,013 shares during the period. Plato Investment Management Ltd acquired a new stake in shares of CareDx during the 2nd quarter worth approximately $62,000. nVerses Capital LLC grew its holdings in shares of CareDx by 175.0% during the 3rd 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. Meeder Asset Management Inc. acquired a new position in shares of CareDx in the second quarter valued at $142,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of CareDx by 10,267.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 18,661 shares of the company's stock valued at $198,000 after purchasing an additional 18,481 shares in the last quarter.

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.