GeneDx (NASDAQ:WGS) Trading 5.7% Higher – Here’s Why

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) traded up 5.7% during trading on Tuesday . The company traded as high as $77.88 and last traded at $77.60. 60,771 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 444,783 shares. The stock had previously closed at $73.39.

Analyst Ratings Changes

Several research analysts recently weighed in on WGS shares. Wells Fargo & Company lifted their price objective on shares of GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group boosted their price target on shares of GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. BTIG Research raised their price objective on GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. TD Cowen lifted their target price on GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Craig Hallum increased their price target on GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, GeneDx has an average rating of “Moderate Buy” and an average target price of $59.33.

GeneDx Stock Performance

The stock’s 50 day moving average is $54.41 and its two-hundred day moving average is $37.05. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of -25.23 and a beta of 2.11. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.25. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. The company had revenue of $76.90 million during the quarter, compared to analysts’ expectations of $64.98 million. During the same period in the prior year, the firm earned ($0.82) earnings per share. GeneDx’s revenue for the quarter was up 44.3% compared to the same quarter last year. Analysts expect that GeneDx Holdings Corp. will post -0.24 earnings per share for the current fiscal year.

Insider Transactions at GeneDx

In other GeneDx news, major shareholder Opko Health, Inc. sold 50,000 shares of GeneDx stock in a transaction on Monday, August 19th. The shares were sold at an average price of $34.49, for a total value of $1,724,500.00. Following the sale, the insider now directly owns 2,646,972 shares in the company, valued at approximately $91,294,064.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Kevin Feeley sold 895 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $33.33, for a total transaction of $29,830.35. Following the sale, the chief financial officer now owns 39,910 shares in the company, valued at $1,330,200.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Opko Health, Inc. sold 50,000 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $34.49, for a total transaction of $1,724,500.00. Following the completion of the transaction, the insider now directly owns 2,646,972 shares of the company’s stock, valued at $91,294,064.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 923,024 shares of company stock valued at $66,980,631 in the last ninety days. 27.30% of the stock is currently owned by corporate insiders.

Institutional Trading of GeneDx

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new position in shares of GeneDx during the 2nd quarter worth about $34,000. nVerses Capital LLC bought a new position in GeneDx during the second quarter worth about $50,000. CWM LLC acquired a new position in GeneDx during the third quarter worth approximately $89,000. SG Americas Securities LLC bought a new stake in GeneDx in the third quarter valued at approximately $198,000. Finally, Palumbo Wealth Management LLC acquired a new stake in shares of GeneDx in the third quarter valued at approximately $287,000. 61.72% of the stock is owned by institutional investors.

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.