GeneDx (NASDAQ:WGS) Sees Unusually-High Trading Volume – What’s Next?

GeneDx Holdings Corp. (NASDAQ:WGS) shares saw unusually-strong trading volume on Tuesday . Approximately 1,016,508 shares traded hands during trading, an increase of 6% from the previous session’s volume of 962,387 shares.The stock last traded at $74.65 and had previously closed at $85.01.

Analyst Ratings Changes

WGS has been the subject of a number of recent research reports. TD Cowen boosted their target price on GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. The Goldman Sachs Group lifted their price target on shares of GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Wells Fargo & Company increased their price target on GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Craig Hallum increased their target price on shares of GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. 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, GeneDx presently has a consensus rating of “Moderate Buy” and an average price target of $70.67.

GeneDx Price Performance

The company’s 50 day moving average is $78.08 and its 200 day moving average is $54.43. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of -21.95 and a beta of 2.02. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25.

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

Insider Buying and Selling

In other GeneDx news, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $75.00, for a total value of $64,935,000.00. Following the transaction, the insider now directly owns 2,866,833 shares of the company’s stock, valued at approximately $215,012,475. This trade represents a 23.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Katherine Stueland sold 51,420 shares of GeneDx stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $94.48, for a total value of $4,858,161.60. Following the transaction, the chief executive officer now directly owns 1,720 shares in the company, valued at approximately $162,505.60. The trade was a 96.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,229,965 shares of company stock valued at $93,006,163 over the last ninety days. 27.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in GeneDx by 617.3% during the third quarter. JPMorgan Chase & Co. now owns 52,161 shares of the company’s stock valued at $2,214,000 after purchasing an additional 44,889 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in shares of GeneDx during the 3rd quarter valued at approximately $604,000. Franklin Resources Inc. purchased a new position in GeneDx in the 3rd quarter valued at approximately $301,000. Tidal Investments LLC bought a new stake in GeneDx during the 3rd quarter valued at $514,000. Finally, Barclays PLC lifted its position in shares of GeneDx by 346.3% during the third quarter. Barclays PLC now owns 18,921 shares of the company’s stock worth $803,000 after acquiring an additional 14,681 shares in the last quarter. Hedge funds and other institutional investors own 61.72% of the company’s stock.

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.