GeneDx (NASDAQ:WGS) Trading Up 4.8% – Here’s Why

GeneDx Holdings Corp. (NASDAQ:WGS)’s share price rose 4.8% on Friday . The stock traded as high as $75.37 and last traded at $75.18. Approximately 134,654 shares changed hands during mid-day 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

WGS has been the subject of several research analyst reports. Craig Hallum lifted their price objective on GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group lifted their price target on GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company upped their price objective 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. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $59.33.

GeneDx Stock Up 4.9 %

The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. The company’s 50-day moving average is $69.70 and its two-hundred day moving average is $44.98.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.21) by $0.25. The firm had revenue of $76.90 million during the quarter, compared to analyst estimates of $64.98 million. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. GeneDx’s revenue was up 44.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.82) EPS. On average, sell-side analysts anticipate that GeneDx Holdings Corp. will post -0.24 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Kevin Feeley sold 1,137 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $76.37, for a total value of $86,832.69. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Katherine Stueland sold 2,154 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $66.60, for a total transaction of $143,456.40. Following the transaction, the chief executive officer now directly owns 105,426 shares in the company, valued at $7,021,371.60. This trade represents a 2.00 % 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 over the last 90 days. Insiders own 27.30% of the company’s stock.

Institutional Trading of GeneDx

Several hedge funds have recently modified their holdings of WGS. Vanguard Group Inc. boosted its holdings in shares of GeneDx by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 707,612 shares of the company’s stock valued at $6,460,000 after acquiring an additional 28,678 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in GeneDx during the second quarter worth approximately $9,575,000. Calamos Advisors LLC acquired a new position in shares of GeneDx during the 2nd quarter valued at about $1,137,000. Bank of New York Mellon Corp purchased a new stake in shares of GeneDx in the 2nd quarter valued at approximately $991,000. Finally, nVerses Capital LLC purchased a new position in GeneDx in the second quarter worth approximately $50,000. 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.