GeneDx (NASDAQ:WGS) Trading Up 7.3% – Should You Buy?

GeneDx Holdings Corp. (NASDAQ:WGS)’s share price was up 7.3% during trading on Monday . The company traded as high as $86.36 and last traded at $84.89. Approximately 292,402 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 451,198 shares. The stock had previously closed at $79.14.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. The Goldman Sachs Group raised their price target on GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Craig Hallum lifted their price target on GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. TD Cowen raised their target price on shares of GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Wells Fargo & Company upped their price objective on shares of GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, GeneDx currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.67.

GeneDx Stock Down 0.5 %

The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25. The business has a fifty day simple moving average of $77.21 and a two-hundred day simple moving average of $52.15. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of -31.05 and a beta of 2.02.

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

Insider Buying and Selling

In other GeneDx news, CEO Katherine Stueland sold 18,006 shares of GeneDx stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $78.18, for a total value of $1,407,709.08. Following the completion of the sale, the chief executive officer now owns 53,140 shares in the company, valued at $4,154,485.20. The trade was a 25.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin Feeley sold 1,137 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $76.37, for a total transaction of $86,832.69. Following the transaction, the chief financial officer now owns 24,731 shares of the company’s stock, valued at approximately $1,888,706.47. This represents a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,143,039 shares of company stock worth $84,816,828 over the last ninety days. Company insiders own 27.30% of the company’s stock.

Institutional Trading of GeneDx

Several hedge funds and other institutional investors have recently made changes to their positions in WGS. JPMorgan Chase & Co. increased its position in 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 purchasing an additional 44,889 shares during the period. Principal Financial Group Inc. bought a new stake in GeneDx in the 3rd quarter valued at about $604,000. Franklin Resources Inc. acquired a new position in shares of GeneDx during the third quarter worth approximately $301,000. Tidal Investments LLC acquired a new position in GeneDx during the third quarter worth $514,000. Finally, Barclays PLC lifted its position in 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 acquiring an additional 14,681 shares in the last quarter. 61.72% of the stock is currently owned by 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.