GeneDx (NASDAQ:WGS) Announces Quarterly Earnings Results

GeneDx (NASDAQ:WGS) 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.

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

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.