GeneDx (NASDAQ:WGS) Releases Quarterly Earnings Results, Beats Expectations By $0.21 EPS

GeneDx (NASDAQ:WGS) posted its quarterly earnings results on Monday. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.21, FiscalAI reports. The company had revenue of $123.10 million for the quarter, compared to analyst estimates of $122.93 million. GeneDx had a negative net margin of 23.41% and a positive return on equity of 4.12%.

GeneDx Stock Up 5.4%

NASDAQ WGS traded up $3.35 during trading hours on Monday, hitting $65.72. 1,785,675 shares of the company traded hands, compared to its average volume of 927,121. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of -18.05 and a beta of 2.00. GeneDx has a twelve month low of $32.21 and a twelve month high of $170.87. The business’s 50-day moving average is $76.83 and its 200-day moving average is $71.32. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.06 and a current ratio of 3.30.

Insiders Place Their Bets

In other news, CFO Kevin Feeley sold 3,728 shares of GeneDx stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $97.61, for a total transaction of $363,890.08. Following the completion of the transaction, the chief financial officer directly owned 44,945 shares in the company, valued at approximately $4,387,081.45. The trade was a 7.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Katherine Stueland sold 10,501 shares of the company’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $97.61, for a total transaction of $1,025,002.61. Following the completion of the transaction, the chief executive officer owned 115,476 shares in the company, valued at approximately $11,271,612.36. This represents a 8.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 19,206 shares of company stock worth $1,808,056. 25.17% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. BTIG Research restated a “buy” rating and issued a $90.00 target price on shares of GeneDx in a research note on Tuesday, August 4th. Zacks Research downgraded shares of GeneDx from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 9th. Canaccord Genuity Group lifted their price objective on GeneDx from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. TD Cowen reiterated a “buy” rating on shares of GeneDx in a research report on Wednesday, July 15th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of GeneDx in a research report on Monday, November 2nd. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, GeneDx has an average rating of “Moderate Buy” and an average price target of $90.86.

About GeneDx

GeneDx is a genomic testing company focused on helping clinicians diagnose rare and inherited conditions. Its services include whole exome and whole genome sequencing, along with other genetic tests and clinical interpretation of results.

The company’s testing is used by healthcare providers to support diagnosis and care decisions, particularly for patients with suspected rare genetic disorders. GeneDx also offers testing related to hereditary cancer risk.

Founded in 2000 by researchers with experience at the National Institutes of Health, GeneDx has developed its business around applying genomic information in clinical care.