HC Wainwright Analysts Raise Earnings Estimates for CareDx

CareDx, Inc (NASDAQ:CDNA) – Equities researchers at HC Wainwright raised their Q3 2024 earnings estimates for shares of CareDx in a note issued to investors on Tuesday, October 22nd. HC Wainwright analyst Y. Chen now anticipates that the company will post earnings of ($0.23) per share for the quarter, up from their prior estimate of ($0.25). HC Wainwright currently 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.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.37. The company 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%.

Several other equities research analysts also recently commented on the stock. BTIG Research raised shares of CareDx from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Monday, August 19th. Craig Hallum increased their price target on shares of CareDx from $22.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. The Goldman Sachs Group increased their price target on shares of CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company initiated coverage on shares of CareDx in a research report on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, CareDx has a consensus rating of “Moderate Buy” and an average price target of $30.60.

CareDx Stock Down 1.1 %

NASDAQ CDNA opened at $22.85 on Thursday. The company has a market cap of $1.19 billion, a PE ratio of -6.68 and a beta of 1.77. CareDx has a 52 week low of $4.80 and a 52 week high of $34.84. The firm’s 50-day simple moving average is $29.25 and its two-hundred day simple moving average is $20.01.

Insider Activity

In related news, Director Peter Maag sold 35,552 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $33.04, for a total value of $1,174,638.08. Following the completion of the sale, the director now owns 330,024 shares of the company’s stock, valued at $10,903,992.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other CareDx news, insider Alexander L. Johnson sold 34,231 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $33.55, for a total transaction of $1,148,450.05. Following the completion of the transaction, the insider now owns 284,983 shares of the company’s stock, valued at approximately $9,561,179.65. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Peter Maag sold 35,552 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $33.04, for a total value of $1,174,638.08. Following the transaction, the director now directly owns 330,024 shares of the company’s stock, valued at $10,903,992.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,340 shares of company stock valued at $3,025,415. 4.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CareDx

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC increased its holdings in shares of CareDx by 1,085.4% during the second quarter. Millennium Management LLC now owns 2,140,909 shares of the company’s stock valued at $33,248,000 after acquiring an additional 1,960,308 shares in the last quarter. Bamco Inc. NY bought a new position in shares of CareDx during the first quarter valued at $13,025,000. Fred Alger Management LLC increased its holdings in shares of CareDx by 517.9% during the second quarter. Fred Alger Management LLC now owns 1,149,602 shares of the company’s stock valued at $17,853,000 after acquiring an additional 963,554 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of CareDx by 868.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 204,987 shares of the company’s stock valued at $6,401,000 after acquiring an additional 183,823 shares in the last quarter. Finally, Driehaus Capital Management LLC bought a new position in shares of CareDx during the second quarter valued at $2,852,000.

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.