GeneDx (NASDAQ:WGS) Stock Price Up 4% – Should You Buy?

GeneDx Holdings Corp. (NASDAQ:WGS)’s share price rose 4% during mid-day trading on Friday . The company traded as high as $100.00 and last traded at $100.58. Approximately 208,439 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 615,348 shares. The stock had previously closed at $96.71.

Analysts Set New Price Targets

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

GeneDx Stock Performance

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 company’s 50-day moving average is $84.89 and its two-hundred day moving average is $71.94. The company has a market capitalization of $2.93 billion, a P/E ratio of -53.26 and a beta of 1.91.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.70 EPS for the quarter, beating 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 business had revenue of $95.64 million for the quarter, compared to analysts’ expectations of $82.24 million. Equities analysts anticipate that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

Insider Buying and Selling at GeneDx

In other news, CEO Katherine Stueland sold 10,559 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $96.71, for a total value of $1,021,160.89. Following the transaction, the chief executive officer now owns 14,865 shares in the company, valued at approximately $1,437,594.15. This trade represents a 41.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevin Feeley sold 1,430 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $76.04, for a total transaction of $108,737.20. Following the completion of the transaction, the chief financial officer now owns 26,770 shares in the company, valued at $2,035,590.80. This represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,735 shares of company stock worth $11,719,787 over the last ninety days. Insiders own 27.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. MCF Advisors LLC grew its holdings in shares of GeneDx by 107.7% in the fourth quarter. MCF Advisors LLC now owns 351 shares of the company’s stock worth $27,000 after purchasing an additional 182 shares during the last quarter. Sterling Capital Management LLC lifted its stake in GeneDx by 877.8% in the fourth quarter. Sterling Capital Management LLC now owns 352 shares of the company’s stock worth $27,000 after acquiring an additional 316 shares during the period. Global Retirement Partners LLC purchased a new stake in GeneDx in the fourth quarter worth $28,000. Lazard Asset Management LLC purchased a new stake in GeneDx in the fourth quarter worth $35,000. Finally, Comerica Bank purchased a new stake in GeneDx in the fourth quarter worth $50,000. 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.