GeneDx (NASDAQ:WGS) Trading Up 5.6%

GeneDx Holdings Corp. (NASDAQ:WGS) was up 5.6% during mid-day trading on Monday . The company traded as high as $27.60 and last traded at $27.60. Approximately 145,791 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 385,836 shares. The stock had previously closed at $26.14.

Analyst Upgrades and Downgrades

Several research firms have commented on WGS. Jefferies Financial Group initiated coverage on GeneDx in a report on Monday, June 3rd. They set a “hold” rating and a $21.00 price objective on the stock. The Goldman Sachs Group increased their target price on GeneDx to $11.00 and gave the company a “neutral” rating in a research report on Monday, April 15th. TD Cowen boosted their price target on GeneDx from $14.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Finally, BTIG Research lifted their target price on GeneDx from $19.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th.

GeneDx Trading Down 3.2 %

The company has a quick ratio of 2.99, a current ratio of 3.22 and a debt-to-equity ratio of 0.25. The stock’s 50 day moving average price is $22.56 and its two-hundred day moving average price is $12.06.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings data on Monday, April 29th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.35. The business had revenue of $62.42 million during the quarter, compared to analysts’ expectations of $49.80 million. GeneDx had a negative return on equity of 36.23% and a negative net margin of 60.86%. Research analysts predict that GeneDx Holdings Corp. will post -0.92 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Katherine Stueland sold 6,325 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $11.04, for a total value of $69,828.00. Following the completion of the transaction, the chief executive officer now owns 75,869 shares of the company’s stock, valued at approximately $837,593.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Casdin Capital, Llc purchased 100,000 shares of GeneDx stock in a transaction that occurred on Monday, June 3rd. The stock was purchased at an average price of $20.82 per share, for a total transaction of $2,082,000.00. Following the transaction, the director now directly owns 3,063,509 shares in the company, valued at $63,782,257.38. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Katherine Stueland sold 6,325 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $11.04, for a total transaction of $69,828.00. Following the completion of the transaction, the chief executive officer now directly owns 75,869 shares in the company, valued at $837,593.76. The disclosure for this sale can be found here. Over the last quarter, insiders bought 175,804 shares of company stock worth $3,771,670 and sold 21,305 shares worth $462,821. Insiders own 28.10% of the company’s stock.

Hedge Funds Weigh In On GeneDx

A number of hedge funds have recently made changes to their positions in WGS. Thompson Davis & CO. Inc. boosted its stake in shares of GeneDx by 20.8% in the first quarter. Thompson Davis & CO. Inc. now owns 24,094 shares of the company’s stock worth $220,000 after acquiring an additional 4,150 shares during the last quarter. PFG Investments LLC purchased a new position in GeneDx in the 1st quarter valued at $95,000. Vanguard Group Inc. boosted its stake in GeneDx by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 707,612 shares of the company’s stock worth $6,460,000 after purchasing an additional 28,678 shares during the last quarter. Gagnon Advisors LLC grew its holdings in shares of GeneDx by 41.6% during the first quarter. Gagnon Advisors LLC now owns 211,393 shares of the company’s stock worth $1,930,000 after buying an additional 62,059 shares in the last quarter. Finally, Decheng Capital LLC acquired a new stake in shares of GeneDx in the fourth quarter valued at about $285,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

GeneDx Company Profile

GeneDx Holdings Corp., through its subsidiaries, provides genomics-related diagnostic and information services. The company offers Centrellis, an AI-driven health intelligence platform that integrates digital tools and artificial intelligence allowing scientists to ingest and synthesize clinical and genomic data to deliver comprehensive health insights.