GeneDx Holdings Corp. (NASDAQ:WGS) Sees Large Growth in Short Interest

GeneDx Holdings Corp. (NASDAQ:WGS) was the target of a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 1,620,000 shares, a growth of 32.8% from the June 30th total of 1,220,000 shares. Approximately 9.8% of the company’s shares are short sold. Based on an average daily trading volume, of 558,700 shares, the short-interest ratio is presently 2.9 days.

GeneDx Trading Up 2.5 %

NASDAQ:WGS traded up $0.81 on Friday, hitting $33.53. 499,401 shares of the company’s stock were exchanged, compared to its average volume of 476,097. The firm has a 50-day moving average price of $27.31 and a 200-day moving average price of $15.55. GeneDx has a 52 week low of $1.16 and a 52 week high of $35.65. The company has a current ratio of 3.22, a quick ratio of 2.99 and a debt-to-equity ratio of 0.25.

GeneDx (NASDAQ:WGS) last released its earnings results on Monday, April 29th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.35. The business had revenue of $62.42 million for the quarter, compared to analyst estimates of $49.80 million. GeneDx had a negative return on equity of 36.23% and a negative net margin of 60.86%. Equities research analysts anticipate that GeneDx will post -0.92 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on WGS shares. Craig Hallum started coverage on shares of GeneDx in a research report on Wednesday, July 10th. They issued a “buy” rating and a $43.00 price objective for the company. BTIG Research increased their target price on GeneDx from $19.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Jefferies Financial Group began coverage on GeneDx in a research note on Monday, June 3rd. They issued a “hold” rating and a $21.00 price target on the stock. TD Cowen upped their price objective on GeneDx from $14.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Finally, The Goldman Sachs Group lifted their target price on GeneDx from $12.50 to $28.00 and gave the company a “neutral” rating in a research report on Wednesday, July 17th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.20.

Insider Activity at GeneDx

In other news, CEO Katherine Stueland sold 6,325 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $11.04, for a total value of $69,828.00. Following the transaction, the chief executive officer now directly owns 75,869 shares in the company, valued at approximately $837,593.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Kevin Feeley sold 2,646 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $28.31, for a total transaction of $74,908.26. Following the completion of the transaction, the chief financial officer now owns 37,409 shares in the company, valued at $1,059,048.79. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Katherine Stueland sold 6,325 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 75,869 shares of the company’s stock, valued at approximately $837,593.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 175,804 shares of company stock worth $3,771,670 and have sold 356,505 shares worth $11,032,829. 28.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On GeneDx

Large investors have recently made changes to their positions in the stock. Thompson Davis & CO. Inc. raised its holdings in shares of GeneDx by 99.4% in the 4th quarter. Thompson Davis & CO. Inc. now owns 19,944 shares of the company’s stock valued at $55,000 after purchasing an additional 9,944 shares during the period. Decheng Capital LLC acquired a new position in GeneDx during the fourth quarter worth approximately $285,000. PFG Investments LLC acquired a new position in GeneDx during the first quarter worth approximately $95,000. Vanguard Group Inc. raised its stake in GeneDx by 4.2% in the first quarter. Vanguard Group Inc. now owns 707,612 shares of the company’s stock valued at $6,460,000 after buying an additional 28,678 shares during the period. Finally, Gagnon Advisors LLC lifted its position in shares of GeneDx by 41.6% in the first quarter. Gagnon Advisors LLC now owns 211,393 shares of the company’s stock valued at $1,930,000 after buying an additional 62,059 shares during the last quarter. 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.