GeneDx (NASDAQ:WGS) Announces Quarterly Earnings Results

GeneDx (NASDAQ:WGSGet Free Report) released its quarterly earnings results on Tuesday. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.21) by $0.25, Zacks reports. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The firm had revenue of $76.90 million during the quarter, compared to analyst estimates of $64.98 million. During the same quarter in the prior year, the firm earned ($0.82) EPS. The business’s revenue for the quarter was up 44.3% compared to the same quarter last year. GeneDx updated its FY 2024 guidance to EPS.

GeneDx Price Performance

NASDAQ:WGS traded down $5.09 on Friday, reaching $76.60. 657,189 shares of the company’s stock traded hands, compared to its average volume of 439,182. The firm has a market cap of $2.06 billion, a PE ratio of -24.72 and a beta of 2.32. The company has a quick ratio of 2.22, a current ratio of 2.40 and a debt-to-equity ratio of 0.25. The stock has a 50-day simple moving average of $46.60 and a 200-day simple moving average of $32.76. GeneDx has a 12 month low of $1.16 and a 12 month high of $89.11.

Analyst Ratings Changes

WGS has been the subject of a number of research reports. The Goldman Sachs Group upped their target price on shares of GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday. Craig Hallum upped their price objective on GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday. BTIG Research lifted their target price on GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. TD Cowen upped their price target on GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company lifted their price objective on GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.33.

View Our Latest Stock Report on GeneDx

Insider Buying and Selling

In other news, CEO Katherine Stueland sold 2,154 shares of GeneDx stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $66.60, for a total transaction of $143,456.40. Following the sale, the chief executive officer now owns 105,426 shares in the company, valued at $7,021,371.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other GeneDx news, CFO Kevin Feeley sold 895 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $33.33, for a total transaction of $29,830.35. Following the completion of the transaction, the chief financial officer now owns 39,910 shares in the company, valued at $1,330,200.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Katherine Stueland sold 2,154 shares of GeneDx stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $66.60, for a total value of $143,456.40. Following the completion of the sale, the chief executive officer now directly owns 105,426 shares in the company, valued at approximately $7,021,371.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 269,829 shares of company stock worth $8,956,152. 27.30% of the stock is owned by corporate insiders.

GeneDx Company Profile

(Get Free Report)

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.

Further Reading

Earnings History for GeneDx (NASDAQ:WGS)

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