DJ Clover Health Shares Rise More Than 11% After Co. Reports 2Q Results
By Stephen Nakrosis
Shares of healthcare company Clover Health Investments Corp. have risen more than 11% on the Nasdaq Thursday, following the company's release of its second-quarter financial results.
At 12:47 p.m. ET, the company's shares were trading 11.21% higher, at $9.04. Volume at the time topped 114.8 million shares, above the stock's 65-day average volume of some 53.2 million shares.
After the bell Wednesday, the company said second-quarter revenue grew 140% year over year to $412 million.
"Second-quarter revenue grew 140% year-over-year due primarily to the launch of Direct Contracting. Clover is on a $1.6 billion annual revenue run rate based on the second quarter results," said Joe Wagner, the company's chief financial officer.
The company said for full-year 2021, it was expecting revenue in the range of $1.4 billion to $1.5 billion.
Total lives under Clover management at quarter end was about 129,000, an increase of 126.3% compared with June 30, 2020, the company said.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
August 12, 2021 13:06 ET (17:06 GMT)
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