GeneDx (NASDAQ:WGS) Trading Up 4.8% – What’s Next?

GeneDx Holdings Corp. (NASDAQ:WGS)’s stock price was up 4.8% during trading on Friday . The stock traded as high as $75.37 and last traded at $75.18. Approximately 134,654 shares changed hands during trading, a decline of 70% from the average daily volume of 453,367 shares. The stock had previously closed at $71.77.

Analyst Ratings Changes

A number of brokerages have recently weighed in on WGS. Craig Hallum boosted their price objective on shares of GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company boosted their price target on GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group increased their price objective on GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $59.33.

GeneDx Stock Performance

The firm’s fifty day simple moving average is $70.21 and its 200 day simple moving average is $45.53. The company has a market capitalization of $2.07 billion, a PE ratio of -24.25 and a beta of 2.03. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27.

GeneDx (NASDAQ:WGS) last issued its earnings results on Tuesday, October 29th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.25. The firm had revenue of $76.90 million for the quarter, compared to the consensus estimate of $64.98 million. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. The company’s revenue was up 44.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.82) earnings per share. On average, research analysts predict that GeneDx Holdings Corp. will post -0.24 EPS for the current year.

Insider Activity

In other news, CFO Kevin Feeley sold 1,137 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $76.37, for a total transaction of $86,832.69. Following the completion of the transaction, the chief financial officer now directly owns 24,731 shares of the company’s stock, valued at $1,888,706.47. This represents a 4.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Katherine Stueland sold 3,661 shares of GeneDx stock in a transaction on Monday, December 9th. The shares were sold at an average price of $76.37, for a total transaction of $279,590.57. Following the completion of the sale, the chief executive officer now directly owns 62,897 shares in the company, valued at $4,803,443.89. This represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,109,374 shares of company stock valued at $82,208,306 in the last three months. 27.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GeneDx

Large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC acquired a new stake in shares of GeneDx in the second quarter valued at about $2,362,000. Chartwell Investment Partners LLC purchased a new position in GeneDx in the 3rd quarter valued at about $1,722,000. Lisanti Capital Growth LLC purchased a new stake in GeneDx during the 3rd quarter worth approximately $1,554,000. Millennium Management LLC increased its stake in GeneDx by 193.5% during the 2nd quarter. Millennium Management LLC now owns 311,401 shares of the company’s stock worth $8,140,000 after buying an additional 205,318 shares in the last quarter. Finally, Algert Global LLC acquired a new position in shares of GeneDx during the second quarter valued at approximately $356,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

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.