GeneDx (NASDAQ:WGS) Trading 4.8% Higher – Should You Buy?

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) were up 4.8% on Wednesday . The stock traded as high as $85.62 and last traded at $88.62. Approximately 58,096 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 644,070 shares. The stock had previously closed at $84.59.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. TD Cowen raised their target price on shares of GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. The Goldman Sachs Group increased their price objective on shares of GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.33.

GeneDx Stock Up 4.8 %

The stock’s fifty day simple moving average is $87.87 and its two-hundred day simple moving average is $75.16. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of -45.23 and a beta of 1.91. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40.

GeneDx (NASDAQ:WGS) last released its earnings results on Tuesday, February 18th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.04 by $0.66. The business had revenue of $95.64 million during the quarter, compared to analyst estimates of $82.24 million. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. On average, sell-side analysts anticipate that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Insider Buying and Selling

In other GeneDx news, CFO Kevin Feeley sold 1,430 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.04, for a total value of $108,737.20. Following the completion of the transaction, the chief financial officer now directly owns 26,770 shares in the company, valued at $2,035,590.80. This trade represents a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Katherine Stueland sold 51,420 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $94.48, for a total transaction of $4,858,161.60. Following the sale, the chief executive officer now directly owns 1,720 shares in the company, valued at approximately $162,505.60. This trade represents a 96.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 183,032 shares of company stock worth $17,007,198 in the last three months. 27.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GeneDx

Hedge funds have recently bought and sold shares of the business. Barclays PLC increased its holdings in shares of GeneDx by 346.3% in the 3rd quarter. Barclays PLC now owns 18,921 shares of the company’s stock valued at $803,000 after purchasing an additional 14,681 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in GeneDx in the 3rd quarter valued at approximately $325,000. Charles Schwab Investment Management Inc. lifted its position in GeneDx by 304.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 147,034 shares of the company’s stock worth $6,240,000 after buying an additional 110,666 shares in the last quarter. Franklin Resources Inc. acquired a new stake in shares of GeneDx during the 3rd quarter valued at $301,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of GeneDx by 617.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 52,161 shares of the company’s stock valued at $2,214,000 after acquiring an additional 44,889 shares in the last quarter. 61.72% of the stock is owned by hedge funds and other institutional investors.

About GeneDx

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.