Short Interest in GeneDx Holdings Corp. (NASDAQ:WGS) Grows By 28.5%

GeneDx Holdings Corp. (NASDAQ:WGS) was the target of a large increase in short interest in February. As of February 15th, there was short interest totalling 2,750,000 shares, an increase of 28.5% from the January 31st total of 2,140,000 shares. Based on an average daily trading volume, of 925,000 shares, the short-interest ratio is currently 3.0 days. Approximately 11.4% of the company’s shares are sold short.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on WGS shares. The Goldman Sachs Group increased their target price on GeneDx from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. TD Cowen increased their target price on GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $72.33.

Insider Activity at GeneDx

In related news, CFO Kevin Feeley sold 35,506 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $93.82, for a total value of $3,331,172.92. Following the completion of the sale, the chief financial officer now owns 2,472 shares in the company, valued at $231,923.04. This represents a 93.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Katherine Stueland sold 51,420 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $94.48, for a total transaction of $4,858,161.60. Following the completion of the sale, the chief executive officer now owns 1,720 shares of the company’s stock, valued at approximately $162,505.60. This represents a 96.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,321 shares of company stock worth $11,315,903 in the last quarter. Corporate insiders own 27.30% of the company’s stock.

Hedge Funds Weigh In On GeneDx

A number of large investors have recently modified their holdings of WGS. William Blair Investment Management LLC acquired a new position in shares of GeneDx during the 4th quarter worth about $51,496,000. Lord Abbett & CO. LLC acquired a new stake in GeneDx in the 4th quarter valued at about $48,458,000. Summit Partners Public Asset Management LLC lifted its stake in GeneDx by 336.9% in the 4th quarter. Summit Partners Public Asset Management LLC now owns 755,564 shares of the company’s stock valued at $58,073,000 after purchasing an additional 582,619 shares during the last quarter. Science & Technology Partners L.P. acquired a new stake in GeneDx in the 4th quarter valued at about $30,821,000. Finally, Fred Alger Management LLC acquired a new stake in GeneDx in the 3rd quarter valued at about $16,731,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

GeneDx Trading Up 6.4 %

GeneDx stock opened at $105.31 on Thursday. The firm has a 50-day moving average of $82.49 and a 200-day moving average of $66.82. GeneDx has a one year low of $7.72 and a one year high of $115.60. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. The company has a market cap of $2.96 billion, a price-to-earnings ratio of -53.73 and a beta of 2.01.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.66. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. The company had revenue of $95.64 million during the quarter, compared to the consensus estimate of $82.24 million. On average, equities analysts expect that GeneDx will post 0.97 earnings per share for the current fiscal year.

GeneDx Company Profile

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.