GeneDx (NASDAQ:WGS) Posts Quarterly Earnings Results, Beats Estimates By $0.21 EPS

GeneDx (NASDAQ:WGS) posted its earnings results on Monday. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.07 by $0.21, FiscalAI reports. The company had revenue of $123.10 million for the quarter, compared to the consensus estimate of $122.93 million. GeneDx had a positive return on equity of 4.12% and a negative net margin of 23.41%.

GeneDx Price Performance

Shares of NASDAQ WGS traded up $3.35 during midday trading on Monday, reaching $65.72. The company’s stock had a trading volume of 1,785,675 shares, compared to its average volume of 927,121. The company has a market cap of $1.96 billion, a P/E ratio of -18.05 and a beta of 2.00. GeneDx has a fifty-two week low of $32.21 and a fifty-two week high of $170.87. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.06 and a current ratio of 3.30. The business’s 50 day moving average price is $76.83 and its two-hundred day moving average price is $71.32.

Insiders Place Their Bets

In other news, CEO Katherine Stueland sold 10,501 shares of the stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $97.61, for a total transaction of $1,025,002.61. Following the sale, the chief executive officer directly owned 115,476 shares of the company’s stock, valued at approximately $11,271,612.36. This represents a 8.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevin Feeley sold 3,728 shares of the firm’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $97.61, for a total value of $363,890.08. Following the completion of the transaction, the chief financial officer owned 44,945 shares in the company, valued at $4,387,081.45. The trade was a 7.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 19,206 shares of company stock valued at $1,808,056. Corporate insiders own 25.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WGS. Canaccord Genuity Group boosted their price target on GeneDx from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Weiss Ratings reiterated a “sell (d)” rating on shares of GeneDx in a research report on Monday, November 2nd. Zacks Research cut GeneDx from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 9th. BTIG Research reissued a “buy” rating and set a $90.00 target price on shares of GeneDx in a report on Tuesday, August 4th. Finally, Wall Street Zen raised shares of GeneDx from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, GeneDx presently has an average rating of “Moderate Buy” and a consensus price target of $90.86.

About GeneDx

GeneDx is a genomic testing company focused on helping clinicians diagnose rare and inherited conditions. Its services include whole exome and whole genome sequencing, along with other genetic tests and clinical interpretation of results.

The company’s testing is used by healthcare providers to support diagnosis and care decisions, particularly for patients with suspected rare genetic disorders. GeneDx also offers testing related to hereditary cancer risk.

Founded in 2000 by researchers with experience at the National Institutes of Health, GeneDx has developed its business around applying genomic information in clinical care.