CareDx Inc. (CDNA) Posts Quarterly Earnings Results, Beats Estimates By $0.10 EPS
CareDx Inc. (NASDAQ:CDNA) announced its quarterly earnings data on Thursday. The company reported ($0.15) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.25) by $0.10. CareDx had a negative return on equity of 62.84% and a negative net margin of 78.62%. The business had revenue of $12.48 million for the quarter, compared to the consensus estimate of $11.50 million. During the same period in the previous year, the business earned ($0.29) earnings per share. The business’s revenue was up 74.5% on a year-over-year basis.
Shares of CareDx (NASDAQ:CDNA) opened at 4.00 on Monday. The company has a 50 day moving average price of $3.78 and a 200-day moving average price of $4.41. CareDx has a 52-week low of $3.28 and a 52-week high of $6.87. The stock’s market capitalization is $75.90 million.
Separately, Zacks Investment Research downgraded CareDx from a “hold” rating to a “sell” rating in a research report on Tuesday, August 16th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. CareDx currently has an average rating of “Buy” and an average target price of $9.25.
In related news, major shareholder Neil Gagnon purchased 178,686 shares of the business’s stock in a transaction on Thursday, September 22nd. The shares were bought at an average cost of $4.00 per share, with a total value of $714,744.00. Following the transaction, the insider now owns 613,473 shares of the company’s stock, valued at $2,453,892. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 13.33% of the company’s stock.
A number of large investors have recently made changes to their positions in CDNA. Royce & Associates LP increased its stake in shares of CareDx by 15.5% in the first quarter. Royce & Associates LP now owns 85,917 shares of the company’s stock valued at $426,000 after buying an additional 11,503 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of CareDx by 281.2% in the second quarter. Vanguard Group Inc. now owns 306,178 shares of the company’s stock valued at $1,323,000 after buying an additional 225,863 shares in the last quarter. Gagnon Advisors LLC increased its stake in shares of CareDx by 40.7% in the second quarter. Gagnon Advisors LLC now owns 952,464 shares of the company’s stock valued at $4,105,000 after buying an additional 275,496 shares in the last quarter. Finally, Gagnon Securities LLC increased its stake in shares of CareDx by 13.5% in the second quarter. Gagnon Securities LLC now owns 1,339,005 shares of the company’s stock valued at $5,771,000 after buying an additional 159,491 shares in the last quarter. 30.44% of the stock is currently owned by institutional investors.
CareDx Company Profile
CareDx, Inc is a molecular diagnostics company. The Company is focused on the discovery, development and commercialization of clinically differentiated diagnostic surveillance solutions for transplant patients. The Company’s commercialized testing solution, the AlloMap heart transplant molecular test (AlloMap), is a gene expression test that helps clinicians monitor and identify heart transplant recipients with stable graft function having a low probability of moderate/severe acute cellular rejection.
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