GeneDx (NASDAQ:WGS) Hits New 1-Year High at $32.85

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $32.85 and last traded at $32.69, with a volume of 41418 shares. The stock had previously closed at $29.81.

Wall Street Analyst Weigh In

A number of research firms have issued reports on WGS. Craig Hallum assumed coverage on GeneDx in a report on Wednesday. They set a “buy” rating and a $43.00 target price for the company. TD Cowen raised their price objective on GeneDx from $14.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. The Goldman Sachs Group raised their price objective on GeneDx to $11.00 and gave the company a “neutral” rating in a report on Monday, April 15th. BTIG Research raised their price objective on GeneDx from $19.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, Jefferies Financial Group assumed coverage on GeneDx in a report on Monday, June 3rd. They issued a “hold” rating and a $21.00 price objective for the company. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $26.80.

GeneDx Price Performance

The company has a quick ratio of 2.99, a current ratio of 3.22 and a debt-to-equity ratio of 0.25. The firm has a market cap of $842.63 million, a P/E ratio of -6.08 and a beta of 2.29. The business has a fifty day moving average of $24.17 and a 200 day moving average of $12.98.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings results on Monday, April 29th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.35. GeneDx had a negative return on equity of 36.23% and a negative net margin of 60.86%. The business had revenue of $62.42 million during the quarter, compared to analysts’ expectations of $49.80 million. On average, sell-side analysts anticipate that GeneDx Holdings Corp. will post -0.92 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Opko Health, Inc. sold 36,118 shares of GeneDx stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $28.24, for a total transaction of $1,019,972.32. Following the completion of the transaction, the insider now owns 3,433,403 shares in the company, valued at $96,959,300.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other GeneDx news, major shareholder Opko Health, Inc. sold 36,118 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $28.24, for a total transaction of $1,019,972.32. Following the completion of the sale, the insider now directly owns 3,433,403 shares in the company, valued at $96,959,300.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin Feeley sold 2,646 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $28.31, for a total transaction of $74,908.26. Following the sale, the chief financial officer now owns 37,409 shares of the company’s stock, valued at $1,059,048.79. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 175,804 shares of company stock worth $3,771,670 and sold 121,505 shares worth $3,211,829. 28.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Decheng Capital LLC bought a new position in GeneDx in the fourth quarter valued at approximately $285,000. Thompson Davis & CO. Inc. increased its stake in GeneDx by 99.4% in the fourth quarter. Thompson Davis & CO. Inc. now owns 19,944 shares of the company’s stock valued at $55,000 after acquiring an additional 9,944 shares during the last quarter. PFG Investments LLC bought a new position in GeneDx in the first quarter valued at approximately $95,000. Vanguard Group Inc. increased its stake in GeneDx by 4.2% in the first quarter. Vanguard Group Inc. now owns 707,612 shares of the company’s stock valued at $6,460,000 after acquiring an additional 28,678 shares during the last quarter. Finally, Oracle Investment Management Inc. grew its stake in shares of GeneDx by 531.7% during the first quarter. Oracle Investment Management Inc. now owns 1,126,607 shares of the company’s stock worth $10,286,000 after buying an additional 948,253 shares during the last quarter. 61.72% of the stock is owned by 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.