Short Interest in GeneDx Holdings Corp. (NASDAQ:WGS) Grows By 28.5%

GeneDx Holdings Corp. (NASDAQ:WGS) was the target of a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 2,750,000 shares, a growth of 28.5% from the January 31st total of 2,140,000 shares. Based on an average daily volume of 925,000 shares, the short-interest ratio is currently 3.0 days. Currently, 11.4% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

WGS has been the topic of several recent research reports. TD Cowen raised their target price on shares of GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. The Goldman Sachs Group raised their target price on shares of GeneDx from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, GeneDx presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.33.

GeneDx Stock Performance

Shares of NASDAQ:WGS opened at $105.31 on Thursday. The company’s 50 day simple moving average is $82.49 and its 200 day simple moving average is $66.82. The stock has a market capitalization of $2.96 billion, a price-to-earnings ratio of -53.73 and a beta of 2.01. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. GeneDx has a 1 year low of $7.72 and a 1 year high of $115.60.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.66. The business had revenue of $95.64 million for the quarter, compared to analysts’ expectations of $82.24 million. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. As a group, research analysts predict that GeneDx will post 0.97 EPS for the current fiscal year.

Insider Activity at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 3,661 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $76.37, for a total value of $279,590.57. Following the transaction, the chief executive officer now directly owns 62,897 shares of the company’s stock, valued at $4,803,443.89. This represents a 5.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevin Feeley sold 1,137 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $76.37, for a total transaction of $86,832.69. Following the completion of the transaction, the chief financial officer now directly owns 24,731 shares in the company, valued at approximately $1,888,706.47. This 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 127,321 shares of company stock worth $11,315,903. Insiders own 27.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in WGS. Principal Financial Group Inc. bought a new position in GeneDx in the third quarter valued at approximately $604,000. Chartwell Investment Partners LLC acquired a new stake in GeneDx in the third quarter valued at approximately $1,722,000. Lisanti Capital Growth LLC acquired a new stake in GeneDx in the third quarter valued at approximately $1,554,000. GSA Capital Partners LLP acquired a new stake in GeneDx in the third quarter valued at approximately $322,000. Finally, Royce & Associates LP acquired a new stake in GeneDx in the third quarter valued at approximately $1,201,000. 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.