GeneDx (NASDAQ:WGS) Shares Up 4.8% – Here’s What Happened

GeneDx Holdings Corp. (NASDAQ:WGS) shares shot up 4.8% on Wednesday . The company traded as high as $85.62 and last traded at $88.62. 58,096 shares changed hands during trading, a decline of 91% from the average session volume of 644,070 shares. The stock had previously closed at $84.59.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. The Goldman Sachs Group boosted their price target on GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. TD Cowen lifted their price objective 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 issued a buy rating to the stock. According to MarketBeat, GeneDx currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.33.

GeneDx Stock Up 4.8 %

The stock has a market cap of $2.49 billion, a P/E ratio of -45.23 and a beta of 1.91. 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 business has a 50-day simple moving average of $87.87 and a 200-day simple moving average of $75.16.

GeneDx (NASDAQ:WGS) last posted its earnings results 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 analyst estimates of $82.24 million. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. Analysts expect that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Insider Transactions at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 46,551 shares of the firm’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $95.62, for a total value of $4,451,206.62. Following the sale, the chief executive officer now directly owns 48,314 shares in the company, valued at $4,619,784.68. This trade represents a 49.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 transaction, the chief financial officer now directly owns 26,770 shares of the company’s stock, valued at $2,035,590.80. This represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 183,032 shares of company stock worth $17,007,198. Company insiders own 27.30% of the company’s stock.

Hedge Funds Weigh In On GeneDx

Several institutional investors and hedge funds have recently added to or reduced their stakes in WGS. MCF Advisors LLC lifted its position 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 period. Sterling Capital Management LLC lifted its position in GeneDx by 877.8% in the fourth quarter. Sterling Capital Management LLC now owns 352 shares of the company’s stock worth $27,000 after purchasing an additional 316 shares during the period. Global Retirement Partners LLC acquired a new stake in GeneDx during the fourth quarter worth $28,000. Lazard Asset Management LLC bought a new stake in GeneDx in the 4th quarter valued at $35,000. Finally, Comerica Bank acquired a new position in shares of GeneDx in the 4th quarter valued at $50,000. 61.72% of the stock is currently 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.