GeneDx (NASDAQ:WGS) Trading Up 9.3% – Still a Buy?

GeneDx Holdings Corp. (NASDAQ:WGS)’s stock price shot up 9.3% on Tuesday . The stock traded as high as $93.09 and last traded at $92.62. 108,462 shares changed hands during trading, a decline of 89% from the average session volume of 1,020,420 shares. The stock had previously closed at $84.77.

Analyst Ratings Changes

WGS has been the subject of a number of research 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 research report on Wednesday, February 19th. TD Cowen upped their price objective on shares of GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $72.33.

GeneDx Stock Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. The company has a market cap of $2.36 billion, a P/E ratio of -42.70 and a beta of 1.93. The firm has a 50 day moving average price of $88.31 and a 200-day moving average price of $76.40.

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

Insider Buying and Selling

In other news, CEO Katherine Stueland sold 1,657 shares of the stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $78.48, for a total value of $130,041.36. Following the completion of the sale, the chief executive officer now directly owns 3,937 shares of the company’s stock, valued at approximately $308,975.76. This represents a 29.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kevin Feeley sold 402 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $90.05, for a total transaction of $36,200.10. Following the completion of the sale, the chief financial officer now owns 5,044 shares in the company, valued at $454,212.20. This represents a 7.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,670 shares of company stock worth $7,301,418 in the last quarter. 27.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. MCF Advisors LLC increased its stake in GeneDx by 107.7% in the fourth quarter. MCF Advisors LLC now owns 351 shares of the company’s stock valued at $27,000 after acquiring an additional 182 shares during the period. Sterling Capital Management LLC grew its position in GeneDx by 877.8% in the fourth quarter. Sterling Capital Management LLC now owns 352 shares of the company’s stock valued at $27,000 after acquiring an additional 316 shares during the period. Global Retirement Partners LLC acquired a new position in GeneDx during the fourth quarter worth $28,000. Lazard Asset Management LLC bought a new position in shares of GeneDx during the fourth quarter valued at $35,000. Finally, Comerica Bank bought a new stake in shares of GeneDx in the 4th quarter worth about $50,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

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.