GeneDx (NASDAQ:WGS) Shares Up 9.2% – Here’s What Happened

GeneDx Holdings Corp. (NASDAQ:WGS) shares traded up 9.2% during trading on Friday . The company traded as high as $96.89 and last traded at $97.50. 112,807 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 609,345 shares. The stock had previously closed at $89.32.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WGS. 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. The Goldman Sachs Group upped their target price on GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $72.33.

GeneDx Trading Up 12.5 %

The stock has a fifty day simple moving average of $84.21 and a 200 day simple moving average of $68.99. The firm has a market capitalization of $2.82 billion, a P/E ratio of -51.21 and a beta of 1.90. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25.

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

Insiders Place Their Bets

In other GeneDx news, CEO Katherine Stueland sold 18,006 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $78.18, for a total transaction of $1,407,709.08. Following the transaction, the chief executive officer now directly owns 53,140 shares in the company, valued at $4,154,485.20. This trade represents a 25.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kevin Feeley sold 922 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $94.72, for a total value of $87,331.84. Following the sale, the chief financial officer now owns 5,446 shares in the company, valued at $515,845.12. The trade was a 14.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 126,176 shares of company stock valued at $11,295,519 over the last ninety days. 27.30% of the stock is owned by insiders.

Hedge Funds Weigh In On GeneDx

Hedge funds have recently made changes to their positions in the company. MCF Advisors LLC boosted its position 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 buying an additional 182 shares during the last quarter. Sterling Capital Management LLC boosted its stake in shares of GeneDx by 877.8% during the 4th quarter. Sterling Capital Management LLC now owns 352 shares of the company’s stock worth $27,000 after acquiring an additional 316 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in shares of GeneDx in the fourth quarter valued at approximately $28,000. Lazard Asset Management LLC acquired a new position in shares of GeneDx during the 4th quarter worth approximately $35,000. Finally, Comerica Bank purchased a new position in shares of GeneDx during the 4th quarter valued at approximately $50,000. 61.72% of the stock is owned by institutional investors and hedge funds.

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.