CareDx, Inc. (CDNA) Releases Earnings Results
CareDx, Inc. (NASDAQ:CDNA) announced its quarterly earnings data on Thursday. The company reported ($0.19) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.19), Morningstar.com reports. CareDx had a negative return on equity of 69.67% and a negative net margin of 77.02%. The company had revenue of $12.05 million during the quarter, compared to the consensus estimate of $11.87 million.
CareDx (NASDAQ CDNA) traded up 15.67% during midday trading on Friday, reaching $1.55. The company had a trading volume of 144,888 shares. CareDx has a 12 month low of $0.76 and a 12 month high of $5.00. The stock’s market cap is $33.20 million. The firm has a 50-day moving average of $1.26 and a 200-day moving average of $1.48.
Several equities analysts recently commented on CDNA shares. Zacks Investment Research upgraded CareDx from a “hold” rating to a “buy” rating and set a $1.25 target price for the company in a research report on Tuesday, July 4th. ValuEngine downgraded CareDx from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd.
In related news, major shareholder Neil Gagnon acquired 63,120 shares of the firm’s stock in a transaction that occurred on Friday, June 23rd. The stock was acquired at an average cost of $1.10 per share, for a total transaction of $69,432.00. Following the completion of the acquisition, the insider now directly owns 886,216 shares of the company’s stock, valued at approximately $974,837.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders purchased 80,689 shares of company stock valued at $87,815 over the last 90 days. 5.40% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of CDNA. Royce & Associates LP increased its stake in shares of CareDx by 23.5% in the first quarter. Royce & Associates LP now owns 526,472 shares of the company’s stock worth $737,000 after buying an additional 100,111 shares during the last quarter. Gagnon Securities LLC increased its stake in shares of CareDx by 2.9% in the second quarter. Gagnon Securities LLC now owns 2,084,292 shares of the company’s stock worth $2,314,000 after buying an additional 57,954 shares during the last quarter. Finally, Armstrong Henry H Associates Inc. acquired a new stake in shares of CareDx during the first quarter worth $22,450,000. Institutional investors and hedge funds own 34.89% of the company’s stock.
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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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