GeneDx (NASDAQ:WGS) Sees Strong Trading Volume – Here’s What Happened

GeneDx Holdings Corp. (NASDAQ:WGS) saw unusually-strong trading volume on Tuesday . Approximately 1,016,508 shares traded hands during trading, an increase of 6% from the previous session’s volume of 962,387 shares.The stock last traded at $74.65 and had previously closed at $85.01.

Wall Street Analysts Forecast Growth

WGS has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective 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. Craig Hallum lifted their target price on GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group upped their price target on shares of GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, TD Cowen raised their target price on GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $70.67.

GeneDx Trading Down 5.7 %

The company has a fifty day simple moving average of $78.08 and a 200-day simple moving average of $54.43. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of -21.95 and a beta of 2.02. 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 EPS 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 firm had revenue of $76.90 million during the quarter, compared to analyst estimates of $64.98 million. During the same quarter last year, the business posted ($0.82) EPS. The company’s revenue was up 44.3% on a year-over-year basis. On average, research analysts forecast that GeneDx Holdings Corp. will post -0.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Katherine Stueland sold 51,420 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $94.48, for a total transaction of $4,858,161.60. Following the transaction, the chief executive officer now owns 1,720 shares in the company, valued at approximately $162,505.60. This trade represents a 96.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevin Feeley sold 1,137 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $76.37, for a total value of $86,832.69. Following the completion of the sale, the chief financial officer now owns 24,731 shares of the company’s stock, valued at approximately $1,888,706.47. This trade represents a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,229,965 shares of company stock worth $93,006,163. 27.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On GeneDx

Institutional investors and hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC acquired a new stake in GeneDx during the second quarter valued at approximately $34,000. CWM LLC acquired a new position in GeneDx in the third quarter worth $89,000. SG Americas Securities LLC bought a new stake in shares of GeneDx during the third quarter worth $198,000. Point72 DIFC Ltd bought a new stake in shares of GeneDx during the third quarter worth $220,000. Finally, Palumbo Wealth Management LLC acquired a new stake in shares of GeneDx in the third quarter valued at $287,000. Institutional investors own 61.72% of the company’s stock.

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.