GeneDx (NASDAQ:WGS) Stock Price Up 4% – Should You Buy?

GeneDx Holdings Corp. (NASDAQ:WGS)’s share price was up 4% during trading on Friday . The stock traded as high as $100.00 and last traded at $100.58. Approximately 208,439 shares were traded during trading, a decline of 66% from the average daily volume of 615,348 shares. The stock had previously closed at $96.71.

Analyst Upgrades and Downgrades

Several equities analysts have commented on WGS shares. The Goldman Sachs Group raised their price objective on GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. TD Cowen raised their price objective 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 given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.33.

GeneDx Price Performance

The firm has a fifty day moving average of $84.89 and a 200 day moving average of $71.94. The company has a market capitalization of $2.93 billion, a P/E ratio of -53.26 and a beta of 1.91. 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 released its quarterly earnings data on Tuesday, February 18th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.04 by $0.66. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. The company had revenue of $95.64 million during the quarter, compared to the consensus estimate of $82.24 million. On average, equities research analysts anticipate that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Insider Buying and Selling

In other news, CEO Katherine Stueland sold 51,420 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 1,720 shares of the company’s stock, valued at $162,505.60. This represents a 96.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin Feeley sold 1,430 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.04, for a total transaction of $108,737.20. Following the sale, the chief financial officer now directly owns 26,770 shares of the company’s stock, valued at $2,035,590.80. The trade was a 5.07 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,735 shares of company stock worth $11,719,787. 27.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On GeneDx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MCF Advisors LLC increased its holdings in GeneDx by 107.7% in the 4th quarter. MCF Advisors LLC now owns 351 shares of the company’s stock worth $27,000 after acquiring an additional 182 shares in the last quarter. Sterling Capital Management LLC increased its holdings in GeneDx by 877.8% in the 4th quarter. Sterling Capital Management LLC now owns 352 shares of the company’s stock worth $27,000 after acquiring an additional 316 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in GeneDx in the 4th quarter worth approximately $28,000. Lazard Asset Management LLC purchased a new stake in GeneDx in the 4th quarter worth approximately $35,000. Finally, Comerica Bank purchased a new stake in GeneDx in the 4th quarter worth approximately $50,000. 61.72% of the stock is 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.