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

CareDx (NASDAQ:CDNA) issued its quarterly earnings results on Monday. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.11, Briefing.com reports. The firm 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 company’s revenue was up 23.4% on a year-over-year basis. During the same period last year, the company earned ($0.43) earnings per share. CareDx updated its FY 2024 guidance to EPS.

CareDx Stock Performance

NASDAQ CDNA traded down $0.12 during mid-day trading on Tuesday, reaching $22.81. 839,142 shares of the stock were exchanged, compared to its average volume of 898,408. The company has a market capitalization of $1.20 billion, a P/E ratio of -8.50 and a beta of 1.80. The business’s 50 day moving average is $27.88 and its 200-day moving average is $20.86. CareDx has a 1 year low of $6.11 and a 1 year high of $34.84.

Insider Buying and Selling

In other news, insider Alexander L. Johnson sold 21,557 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $32.58, for a total transaction of $702,327.06. Following the completion of the sale, the insider now owns 284,983 shares of the company’s stock, valued at $9,284,746.14. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Peter Maag sold 35,552 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $33.04, for a total transaction 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander L. Johnson sold 21,557 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 284,983 shares in the company, valued at $9,284,746.14. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,340 shares of company stock valued at $3,025,415. 4.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CDNA has been the subject of several research reports. HC Wainwright reissued a “neutral” rating on shares of CareDx in a report on Tuesday, October 22nd. BTIG Research raised shares of CareDx from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a report on Monday, August 19th. StockNews.com raised CareDx from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Craig Hallum lifted their price target on shares of CareDx from $22.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, The Goldman Sachs Group upped 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.60.

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.