GeneDx (NASDAQ:WGS) Shares Up 7.5% – What’s Next?

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) rose 7.5% during trading on Tuesday . The company traded as high as $90.82 and last traded at $85.71. Approximately 698,305 shares traded hands during mid-day trading, a decline of 13% from the average daily volume of 799,035 shares. The stock had previously closed at $79.71.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Guggenheim assumed coverage on shares of GeneDx in a research report on Thursday, May 15th. They set a “buy” rating and a $88.00 target price on the stock. TD Securities decreased their price objective on GeneDx from $135.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Wall Street Zen lowered GeneDx from a “buy” rating to a “hold” rating in a research note on Saturday. Wells Fargo & Company decreased their target price on GeneDx from $105.00 to $78.00 and set an “equal weight” rating for the company in a research report on Thursday, May 1st. Finally, Jefferies Financial Group raised GeneDx from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a research note on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.75.

GeneDx Stock Performance

The firm has a market capitalization of $2.57 billion, a P/E ratio of -63.79 and a beta of 1.94. The stock has a fifty day moving average of $75.14 and a 200-day moving average of $81.47. The company has a quick ratio of 3.07, a current ratio of 3.25 and a debt-to-equity ratio of 0.20.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.17. The firm had revenue of $87.12 million for the quarter, compared to analyst estimates of $79.90 million. GeneDx had a negative net margin of 11.69% and a positive return on equity of 10.17%. On average, research analysts anticipate that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Insider Activity at GeneDx

In other news, CFO Kevin Feeley sold 8,746 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $95.61, for a total transaction of $836,205.06. Following the completion of the sale, the chief financial officer now owns 15,996 shares in the company, valued at $1,529,377.56. The trade was a 35.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Katherine Stueland sold 46,551 shares of the company’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $95.62, for a total value of $4,451,206.62. Following the completion of the transaction, the chief executive officer now directly owns 48,314 shares in the company, valued at approximately $4,619,784.68. This represents a 49.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 120,319 shares of company stock worth $11,207,272. Insiders own 29.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Sterling Capital Management LLC grew its stake in GeneDx by 877.8% during the fourth quarter. Sterling Capital Management LLC now owns 352 shares of the company’s stock worth $27,000 after buying an additional 316 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in shares of GeneDx during the 4th quarter worth approximately $28,000. Lazard Asset Management LLC acquired a new stake in shares of GeneDx during the 4th quarter worth approximately $35,000. GAMMA Investing LLC raised its position in GeneDx by 151.7% during the first quarter. GAMMA Investing LLC now owns 438 shares of the company’s stock valued at $39,000 after purchasing an additional 264 shares in the last quarter. Finally, Comerica Bank acquired a new position in GeneDx during the fourth quarter valued at approximately $50,000. Institutional investors own 61.72% of the company’s stock.

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.