GeneDx (NASDAQ:WGS) Stock Price Up 6% – Time to Buy?

GeneDx Holdings Corp. (NASDAQ:WGS) rose 6% during mid-day trading on Wednesday . The stock traded as high as $78.18 and last traded at $78.82. Approximately 56,881 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 941,632 shares. The stock had previously closed at $74.36.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on WGS shares. Craig Hallum raised their price target on shares of GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group upped their target price on GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Wells Fargo & Company lifted their price target on GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, TD Cowen boosted their target price on shares of 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 given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $70.67.

GeneDx Trading Up 2.1 %

The stock has a market cap of $2.18 billion, a PE ratio of -25.49 and a beta of 2.02. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25. The firm has a 50-day simple moving average of $77.67 and a 200-day simple moving average of $56.09.

GeneDx (NASDAQ:WGS) last posted its earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.25. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. The business had revenue of $76.90 million during the quarter, compared to analyst estimates of $64.98 million. During the same quarter in the previous year, the firm earned ($0.82) EPS. The company’s quarterly revenue was up 44.3% compared to the same quarter last year. Equities analysts forecast that GeneDx Holdings Corp. will post -0.24 earnings per share for the current year.

Insider Activity

In other GeneDx news, CEO Katherine Stueland sold 51,420 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $94.48, for a total transaction of $4,858,161.60. Following the sale, the chief executive officer now owns 1,720 shares in the company, valued at $162,505.60. This trade represents a 96.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kevin Feeley sold 35,506 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $93.82, for a total value of $3,331,172.92. Following the completion of the transaction, the chief financial officer now owns 2,472 shares of the company’s stock, valued at $231,923.04. The trade was a 93.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,229,965 shares of company stock worth $93,006,163 in the last three months. Corporate insiders own 27.30% of the company’s stock.

Institutional Trading of GeneDx

Several hedge funds and other institutional investors have recently bought and sold shares of the company. MCF Advisors LLC lifted its holdings in shares of 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 during the last quarter. CWM LLC purchased a new position in GeneDx in the 3rd quarter worth $89,000. Evolution Wealth Advisors LLC bought a new stake in GeneDx in the fourth quarter worth $202,000. Verition Fund Management LLC boosted its position in GeneDx by 12.9% during the third quarter. Verition Fund Management LLC now owns 25,845 shares of the company’s stock valued at $1,097,000 after buying an additional 2,945 shares during the period. Finally, PFG Investments LLC bought a new position in shares of GeneDx during the fourth quarter valued at about $252,000. Hedge funds and other 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.