GeneDx (NASDAQ:WGS) Reaches New 52-Week High – What’s Next?

GeneDx Holdings Corp. (NASDAQ:WGS)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $70.51 and last traded at $69.99, with a volume of 106099 shares. The stock had previously closed at $56.06.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on WGS shares. Wells Fargo & Company started coverage on GeneDx in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $34.00 price objective for the company. TD Cowen upped their price objective on GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group upped their price objective on GeneDx from $32.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. BTIG Research increased their price target on GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Craig Hallum increased their price target on GeneDx from $46.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $45.67.

GeneDx Price Performance

The firm’s fifty day simple moving average is $43.68 and its 200 day simple moving average is $31.53. The firm has a market cap of $2.19 billion, a P/E ratio of -14.51 and a beta of 2.32. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.22 and a current ratio of 2.38.

GeneDx (NASDAQ:WGS) last released its quarterly earnings data on Tuesday, July 30th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.15. GeneDx had a negative net margin of 48.21% and a negative return on equity of 22.71%. The business had revenue of $70.51 million during the quarter, compared to the consensus estimate of $58.90 million. As a group, analysts forecast that GeneDx Holdings Corp. will post -0.75 earnings per share for the current year.

Insider Buying and Selling at GeneDx

In related news, major shareholder Opko Health, Inc. sold 12,994 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $29.35, for a total value of $381,373.90. Following the completion of the transaction, the insider now owns 2,971,570 shares of the company’s stock, valued at approximately $87,215,579.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Kevin Feeley sold 895 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $33.33, for a total value of $29,830.35. Following the completion of the transaction, the chief financial officer now owns 39,910 shares of the company’s stock, valued at approximately $1,330,200.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Opko Health, Inc. sold 12,994 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $29.35, for a total transaction of $381,373.90. Following the completion of the transaction, the insider now directly owns 2,971,570 shares of the company’s stock, valued at approximately $87,215,579.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 356,240 shares of company stock valued at $11,770,553 in the last 90 days. Insiders own 28.10% of the company’s stock.

Institutional Trading of GeneDx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new stake in GeneDx in the 2nd quarter worth about $34,000. nVerses Capital LLC purchased a new position in shares of GeneDx during the second quarter worth approximately $50,000. CWM LLC purchased a new position in shares of GeneDx during the third quarter worth approximately $89,000. SG Americas Securities LLC purchased a new position in shares of GeneDx during the third quarter worth approximately $198,000. Finally, Thompson Davis & CO. Inc. increased its position in shares of GeneDx by 20.8% during the first quarter. Thompson Davis & CO. Inc. now owns 24,094 shares of the company’s stock worth $220,000 after acquiring an additional 4,150 shares during the period. 61.72% of the stock is owned by hedge funds and other institutional investors.

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.