GeneDx (NASDAQ:WGS) Shares Up 5.7% – Time to Buy?

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) traded up 5.7% during trading on Tuesday . The company traded as high as $77.88 and last traded at $77.60. 60,771 shares traded hands during trading, a decline of 86% from the average session volume of 444,783 shares. The stock had previously closed at $73.39.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wells Fargo & Company lifted their target price on shares of GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. 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 note on Wednesday, October 30th. TD Cowen boosted their price objective on shares of GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Craig Hallum increased their price objective on shares of GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, BTIG Research increased their target price on shares of GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Three 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.com, GeneDx currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.33.

GeneDx Price Performance

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 firm has a market capitalization of $2.11 billion, a P/E ratio of -24.84 and a beta of 2.11. The company has a 50 day moving average of $52.51 and a 200-day moving average of $36.30.

GeneDx (NASDAQ:WGS) last released 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. 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 previous year, the business earned ($0.82) earnings per share. The company’s quarterly revenue was up 44.3% on a year-over-year basis. On average, sell-side analysts predict that GeneDx Holdings Corp. will post -0.24 EPS for the current year.

Insider Transactions at GeneDx

In other news, major shareholder Opko Health, Inc. sold 39,824 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $33.08, for a total transaction of $1,317,377.92. Following the completion of the sale, the insider now owns 2,746,972 shares in the company, valued at $90,869,833.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of GeneDx stock in a transaction that occurred 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 owns 2,866,833 shares of the company’s stock, valued at $215,012,475. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Opko Health, Inc. sold 39,824 shares of GeneDx stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $33.08, for a total transaction of $1,317,377.92. Following the completion of the transaction, the insider now directly owns 2,746,972 shares in the company, valued at approximately $90,869,833.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 962,848 shares of company stock valued at $68,298,009. 27.30% of the stock is currently owned by company insiders.

Institutional Trading of GeneDx

A number of large investors have recently bought and sold shares of WGS. Acadian Asset Management LLC bought a new position in GeneDx in the 2nd quarter valued at $34,000. nVerses Capital LLC purchased a new position in shares of GeneDx in the 2nd quarter valued at approximately $50,000. CWM LLC purchased a new position in shares of GeneDx in the third quarter worth $89,000. SG Americas Securities LLC bought a new stake in shares of GeneDx in the third quarter worth $198,000. Finally, Palumbo Wealth Management LLC bought a new stake in GeneDx during the third quarter valued at about $287,000. 61.72% of the stock is 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.