GeneDx (NASDAQ:WGS) Shares Up 5.5% – What’s Next?

GeneDx Holdings Corp. (NASDAQ:WGS) shares shot up 5.5% during trading on Thursday . The stock traded as high as $75.47 and last traded at $73.20. 136,458 shares traded hands during trading, a decline of 70% from the average session volume of 449,613 shares. The stock had previously closed at $69.38.

Analyst Ratings Changes

A number of equities research analysts have weighed in on WGS shares. BTIG Research lifted their target price on GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. TD Cowen upped their price objective on shares of GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group raised their target price on shares of GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Wells Fargo & Company upped their price target on shares of GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Craig Hallum lifted 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. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $59.33.

GeneDx Stock Up 5.7 %

The business’s fifty day moving average price is $58.11 and its two-hundred day moving average price is $38.91. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. The firm has a market capitalization of $2.01 billion, a P/E ratio of -23.63 and a beta of 2.11.

GeneDx (NASDAQ:WGS) last announced its earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.25. The company had revenue of $76.90 million during the quarter, compared to the consensus estimate of $64.98 million. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. GeneDx’s revenue was up 44.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.82) earnings per share. Equities analysts expect that GeneDx Holdings Corp. will post -0.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Katherine Stueland sold 3,639 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $33.33, for a total transaction of $121,287.87. Following the sale, the chief executive officer now directly owns 95,457 shares of the company’s stock, valued at $3,181,581.81. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevin Feeley sold 895 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $33.33, for a total value of $29,830.35. Following the completion of the transaction, the chief financial officer now owns 39,910 shares of the company’s stock, valued at $1,330,200.30. This trade represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,065,580 shares of company stock worth $78,848,138 in the last ninety days. 27.30% of the stock is owned by insiders.

Institutional Investors Weigh In On GeneDx

Several hedge funds have recently added to or reduced their stakes in WGS. Acadian Asset Management LLC acquired a new position in shares of GeneDx in the 2nd quarter valued at about $34,000. nVerses Capital LLC acquired a new position in GeneDx in the second quarter valued at approximately $50,000. CWM LLC purchased a new stake in GeneDx in the 3rd quarter worth approximately $89,000. Verition Fund Management LLC increased its holdings in shares of GeneDx by 12.9% during the 3rd quarter. Verition Fund Management LLC now owns 25,845 shares of the company’s stock valued at $1,097,000 after purchasing an additional 2,945 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of GeneDx by 36.1% in the 2nd quarter. American Century Companies Inc. now owns 17,258 shares of the company’s stock valued at $451,000 after purchasing an additional 4,573 shares during the period. 61.72% of the stock is owned by hedge funds and other institutional investors.

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.