GeneDx (NASDAQ:WGS) Hits New 1-Year High at $32.85

GeneDx Holdings Corp. (NASDAQ:WGS) hit a new 52-week high during trading on Wednesday . The stock traded as high as $32.85 and last traded at $32.69, with a volume of 41418 shares traded. The stock had previously closed at $29.81.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on WGS shares. Craig Hallum initiated coverage on shares of GeneDx in a research report on Wednesday. They set a “buy” rating and a $43.00 target price on the stock. Jefferies Financial Group began coverage on shares of GeneDx in a research note on Monday, June 3rd. They issued a “hold” rating and a $21.00 target price for the company. BTIG Research upped their price objective on shares of GeneDx from $19.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. The Goldman Sachs Group upped their price objective on shares of GeneDx to $11.00 and gave the company a “neutral” rating in a research note on Monday, April 15th. Finally, TD Cowen boosted their target price on GeneDx from $14.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $26.80.

GeneDx Stock Performance

The company has a current ratio of 3.22, a quick ratio of 2.99 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $842.63 million, a price-to-earnings ratio of -6.08 and a beta of 2.29. The company has a 50-day moving average of $24.17 and a 200-day moving average of $12.98.

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

Insider Activity

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 transaction of $69,828.00. Following the transaction, the chief executive officer now directly owns 75,869 shares of the company’s stock, valued at $837,593.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Opko Health, Inc. sold 36,118 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $28.24, for a total value of $1,019,972.32. Following the completion of the transaction, the insider now owns 3,433,403 shares in the company, valued at approximately $96,959,300.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Katherine Stueland sold 6,325 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $11.04, for a total value 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 $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 valued at $3,771,670 and have sold 121,505 shares valued at $3,211,829. Corporate insiders own 28.10% of the company’s stock.

Institutional Investors Weigh In On GeneDx

Several hedge funds have recently bought and sold shares of WGS. PFG Investments LLC purchased a new stake in shares of GeneDx during the 1st quarter worth about $95,000. Thompson Davis & CO. Inc. grew its stake in shares of GeneDx by 99.4% in the fourth quarter. Thompson Davis & CO. Inc. now owns 19,944 shares of the company’s stock worth $55,000 after acquiring an additional 9,944 shares during the last quarter. Decheng Capital LLC bought a new position in GeneDx during the fourth quarter worth $285,000. Gagnon Advisors LLC raised its stake in GeneDx by 41.6% during the 1st quarter. Gagnon Advisors LLC now owns 211,393 shares of the company’s stock valued at $1,930,000 after purchasing an additional 62,059 shares during the last quarter. Finally, Gagnon Securities LLC raised its position in shares of GeneDx by 59.3% during the first quarter. Gagnon Securities LLC now owns 556,305 shares of the company’s stock valued at $5,079,000 after buying an additional 207,027 shares during 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.