GeneDx (NASDAQ:WGS) Stock Price Up 9.3% – Here’s Why

GeneDx Holdings Corp. (NASDAQ:WGS) shares traded up 9.3% during trading on Tuesday . The stock traded as high as $93.09 and last traded at $92.62. 108,462 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 1,020,420 shares. The stock had previously closed at $84.77.

Analyst Upgrades and Downgrades

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

GeneDx Stock Down 0.9 %

The stock has a market cap of $2.36 billion, a P/E ratio of -42.70 and a beta of 1.93. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. The firm’s 50-day moving average is $88.31 and its two-hundred day moving average is $76.40.

GeneDx (NASDAQ:WGS) last released its earnings results on Tuesday, February 18th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.66. The company had revenue of $95.64 million during the quarter, compared to the consensus estimate of $82.24 million. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. On average, equities research analysts anticipate that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Insider Activity

In other news, CFO Kevin Feeley sold 402 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $90.05, for a total value of $36,200.10. Following the completion of the sale, the chief financial officer now directly owns 5,044 shares of the company’s stock, valued at $454,212.20. This represents a 7.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Katherine Stueland sold 1,657 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $78.48, for a total transaction of $130,041.36. Following the completion of the sale, the chief executive officer now directly owns 3,937 shares of the company’s stock, valued at $308,975.76. The trade was a 29.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,670 shares of company stock valued at $7,301,418. 27.30% of the stock is currently owned by insiders.

Institutional Trading of GeneDx

Large investors have recently made changes to their positions in the company. MCF Advisors LLC grew its stake in GeneDx by 107.7% in the fourth quarter. MCF Advisors LLC now owns 351 shares of the company’s stock valued at $27,000 after acquiring an additional 182 shares during the period. Sterling Capital Management LLC lifted its holdings in shares of GeneDx by 877.8% during the 4th quarter. Sterling Capital Management LLC now owns 352 shares of the company’s stock valued at $27,000 after purchasing an additional 316 shares in the last quarter. Global Retirement Partners LLC acquired a new position in shares of GeneDx in the 4th quarter valued at approximately $28,000. Lazard Asset Management LLC bought a new stake in GeneDx during the 4th quarter worth approximately $35,000. Finally, Comerica Bank acquired a new stake in GeneDx during the 4th quarter worth approximately $50,000. Institutional investors own 61.72% of the company’s stock.

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.