CareDx Stock Jumps 28%

(RTTNews) - CareDx, Inc. (CDNA) shares surged 27.97 percent to $22.48, gaining $4.91 on Thursday likely driven by yesterday's announcement of $170 million divestiture agreement and strong preliminary first-quarter results.

The stock is currently trading at $22.48, up from its previous close of $17.57 on the Nasdaq. It opened at $21.12 and has traded in a range of $20.10 to $22.38 during the session, with volume reaching 1.13 million shares compared to an average of 630,410 shares.

The company announced it will sell its Lab Products business to EuroBio Scientific for $170 million in cash, aiming to streamline operations and focus on its core precision medicine business. CareDx also reported preliminary first quarter revenue of approximately $118 million, up 39 percent year-over-year.

The 52-week range for the stock is $10.96 to $22.38.