Here's Why CareDx Stock Is Sinking Today
Shares of CareDx (NASDAQ: CDNA), a diagnostics company geared toward transplant recipients, are falling in response to forward-looking revenue projections that suggest a slowdown ahead. Despite the company issuing an otherwise positive third-quarter report, the stock has tumbled 12.2% as of 1:16 p.m. EDT on Friday.
When CareDx reported second-quarter earnings three months ago, it predicted total revenue would climb to a range between $123 million and $125 million. When reporting third-quarter results, management tightened that range to between $124 million and $125 million but didn't raise expectations at all.
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Source Fool.com
