GeneDx (NASDAQ:WGS) Trading Up 7.3% – Still a Buy?

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) were up 7.3% during trading on Monday . The stock traded as high as $86.36 and last traded at $84.89. Approximately 292,402 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 451,198 shares. The stock had previously closed at $79.14.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group boosted their target price on shares of GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Craig Hallum lifted their price target on GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. TD Cowen upped their price objective on GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Wells Fargo & Company boosted their target price on shares of GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.67.

GeneDx Stock Performance

The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of -31.05 and a beta of 2.02. The firm has a fifty day simple moving average of $77.21 and a 200 day simple moving average of $52.15.

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 analysts’ consensus estimates of ($0.21) by $0.25. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. 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 business posted ($0.82) earnings per share. The firm’s revenue for the quarter was up 44.3% on a year-over-year basis. On average, analysts anticipate that GeneDx Holdings Corp. will post -0.24 earnings per share for the current fiscal year.

Insider Buying and Selling at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 18,006 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $78.18, for a total transaction of $1,407,709.08. Following the completion of the transaction, the chief executive officer now owns 53,140 shares in the company, valued at $4,154,485.20. The trade was a 25.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kevin Feeley sold 12,019 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $73.76, for a total value of $886,521.44. Following the sale, the chief financial officer now owns 32,932 shares of the company’s stock, valued at approximately $2,429,064.32. The trade was a 26.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,143,039 shares of company stock worth $84,816,828 in the last ninety days. 27.30% of the stock is owned by insiders.

Institutional Trading of GeneDx

Institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. grew its position in shares of GeneDx by 617.3% in the third quarter. JPMorgan Chase & Co. now owns 52,161 shares of the company’s stock valued at $2,214,000 after purchasing an additional 44,889 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in GeneDx during the third quarter valued at about $604,000. Franklin Resources Inc. acquired a new stake in GeneDx during the 3rd quarter worth approximately $301,000. Tidal Investments LLC purchased a new position in shares of GeneDx in the 3rd quarter valued at $514,000. Finally, Barclays PLC boosted its position in shares of GeneDx by 346.3% in the third quarter. Barclays PLC now owns 18,921 shares of the company’s stock worth $803,000 after buying an additional 14,681 shares during the period. 61.72% of the stock is currently 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.