CareDx shares rallied 35.6% in the last trading session to close at $40.34 on heavy volume. The jump followed the company's announcement that the Medicare Local Coverage Determination process for molecular testing related to solid organ allograft rejection has been finalized, with the policy affirming coverage across CareDx's transplant surveillance offerings in kidney, heart, and lung. The molecular diagnostics company is expected to report quarterly earnings of $0.22 per share, a year-over-year increase of 120%, on revenues of $114.35 million, up 31.9% from the prior-year quarter. The stock currently carries a Zacks Rank of 3, or Hold.
CareDx IncMedicare finalized coverage for transplant testing, directly benefiting CareDx's offerings.
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