Shares of CareDx rose after the precision medicine diagnostic company raised its fiscal 2026 revenue guidance, as the company swung to a profit in its second quarter.

The stock was up 16% to $44.14 in recent trading, and more than doubled since the start of the year.

CareDx reported net income of $110.6 million, or $2.07 a share, compared with a loss of $8.57 million, or 16 cents a share, a year earlier.

Adjusted earnings per share were 37 cents. Analysts polled by FactSet expected 23 cents.

Revenue rose 52% to $131.9 million, driven by higher testing services revenue and continued expansion of patient and digital solutions revenue. Analysts polled by FactSet expected $114.1 million.

The company said revenue growth reflects demand across transplant programs, favorable reimbursement dynamics and increases in testing activity across surveillance and for-cause settings.

Chief Executive John Hanna said the company has transformed into a differentiated precision molecular diagnostics business with a unique set of core competencies that position it for profitable growth.

The company raised its fiscal 2026 revenue guidance to between $490 million and $500 million from between $447 million and $465 million. Analysts polled by FactSet are expecting $472.8 million.