GeneDx (NASDAQ:WGS) Hits New 1-Year High on Analyst Upgrade

GeneDx Holdings Corp. (NASDAQ:WGS) shares reached a new 52-week high on Tuesday after TD Cowen raised their price target on the stock from $75.00 to $118.00. TD Cowen currently has a buy rating on the stock. GeneDx traded as high as $89.66 and last traded at $89.61, with a volume of 1259011 shares traded. The stock had previously closed at $79.14.

A number of other equities analysts have also commented on the stock. Wells Fargo & Company raised their price objective on shares of GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group raised their target price on GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Craig Hallum upped their price target on GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, GeneDx currently has an average rating of “Moderate Buy” and a consensus target price of $70.67.

Insider Buying and Selling

In related news, CFO Kevin Feeley sold 1,137 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $76.37, for a total transaction of $86,832.69. Following the transaction, the chief financial officer now owns 24,731 shares of the company’s stock, valued at approximately $1,888,706.47. This trade represents a 4.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jason Ryan sold 31,510 shares of GeneDx stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $71.28, for a total transaction of $2,246,032.80. Following the completion of the sale, the director now owns 15,490 shares of the company’s stock, valued at $1,104,127.20. This trade represents a 67.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,143,039 shares of company stock worth $84,816,828. Corporate insiders own 27.30% of the company’s stock.

Institutional Trading of GeneDx

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC acquired a new position in GeneDx in the 2nd quarter valued at $34,000. CWM LLC bought a new position in shares of GeneDx in the third quarter worth about $89,000. SG Americas Securities LLC bought a new stake in GeneDx during the 3rd quarter valued at approximately $198,000. Point72 DIFC Ltd acquired a new stake in GeneDx in the 3rd quarter valued at approximately $220,000. Finally, Palumbo Wealth Management LLC bought a new position in GeneDx in the 3rd quarter worth approximately $287,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

GeneDx Trading Down 0.5 %

The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of -31.05 and a beta of 2.02. The business has a fifty day moving average price of $77.48 and a 200 day moving average price of $52.46.

GeneDx (NASDAQ:WGS) last released its earnings results on Tuesday, October 29th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.21) by $0.25. 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 analysts’ expectations of $64.98 million. During the same period in the prior year, the company earned ($0.82) EPS. The business’s quarterly revenue was up 44.3% compared to the same quarter last year. On average, equities analysts expect that GeneDx Holdings Corp. will post -0.24 EPS for the current fiscal year.

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.