CareDx (NASDAQ:CDNA) Issues Earnings Results

CareDx (NASDAQ:CDNAGet Rating) announced its quarterly earnings data on Thursday. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.05), Briefing.com reports. CareDx had a negative net margin of 16.09% and a negative return on equity of 10.58%. The business had revenue of $80.63 million during the quarter, compared to analysts’ expectations of $81.85 million. During the same period in the prior year, the firm posted ($0.04) EPS. CareDx’s revenue for the quarter was up 8.7% compared to the same quarter last year. CareDx updated its FY 2022 guidance to EPS.

CareDx Trading Up 8.6 %

Shares of NASDAQ:CDNA traded up $2.09 during trading on Friday, hitting $26.39. 1,448,891 shares of the stock were exchanged, compared to its average volume of 799,671. The company has a fifty day moving average price of $23.65 and a two-hundred day moving average price of $31.02. The company has a market cap of $1.40 billion, a PE ratio of -27.78 and a beta of 0.89. CareDx has a 12-month low of $19.34 and a 12-month high of $84.94.

Insider Transactions at CareDx

In related news, Director Grace Colon sold 5,179 shares of CareDx stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $23.01, for a total transaction of $119,168.79. Following the completion of the transaction, the director now directly owns 2,522 shares in the company, valued at approximately $58,031.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Bank of America Corp DE raised its position in shares of CareDx by 59.2% during the 1st quarter. Bank of America Corp DE now owns 274,862 shares of the company’s stock worth $10,167,000 after purchasing an additional 102,189 shares during the last quarter. Neuberger Berman Group LLC raised its position in shares of CareDx by 1.0% during the 1st quarter. Neuberger Berman Group LLC now owns 59,225 shares of the company’s stock worth $2,191,000 after purchasing an additional 587 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of CareDx during the 1st quarter worth approximately $131,000. Quantbot Technologies LP acquired a new position in CareDx in the 1st quarter valued at $312,000. Finally, Royal Bank of Canada raised its holdings in CareDx by 4.5% in the 1st quarter. Royal Bank of Canada now owns 97,180 shares of the company’s stock valued at $3,595,000 after acquiring an additional 4,169 shares during the last quarter.

Wall Street Analysts Forecast Growth

CDNA has been the topic of a number of analyst reports. Stephens initiated coverage on CareDx in a report on Monday, April 25th. They issued an “overweight” rating and a $50.00 price objective on the stock. StockNews.com lowered CareDx from a “hold” rating to a “sell” rating in a research note on Friday, April 8th. One research analyst has rated the stock with a sell rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $63.50.

CareDx Company Profile

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CareDx, Inc discovers, develops, and commercializes diagnostic solutions for transplant patients and caregivers worldwide. It 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.

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Earnings History for CareDx (NASDAQ:CDNA)

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