GeneDx (NASDAQ:WGS) Hits New 1-Year High – What’s Next?

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $61.98 and last traded at $61.98, with a volume of 1850 shares trading hands. The stock had previously closed at $60.00.

Analysts Set New Price Targets

WGS has been the topic of several analyst reports. Craig Hallum boosted their price objective on shares of GeneDx from $43.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. TD Cowen raised their price objective on GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group lifted their price objective on GeneDx from $28.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. BTIG Research raised their price target on shares of GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company assumed coverage on shares of GeneDx in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $34.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.00.

GeneDx Trading Up 0.4 %

The firm’s 50-day moving average price is $39.20 and its 200 day moving average price is $28.49. The company has a market cap of $1.57 billion, a price-to-earnings ratio of -11.58 and a beta of 2.32. The company has a current ratio of 2.38, a quick ratio of 2.22 and a debt-to-equity ratio of 0.27.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings results on Tuesday, July 30th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.15. GeneDx had a negative net margin of 48.21% and a negative return on equity of 22.71%. The business had revenue of $70.51 million during the quarter, compared to analysts’ expectations of $58.90 million. As a group, equities analysts expect that GeneDx Holdings Corp. will post -0.75 EPS for the current year.

Insider Buying and Selling

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 value of $29,830.35. Following the completion of the sale, the chief financial officer now owns 39,910 shares of the company’s stock, valued at approximately $1,330,200.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, major shareholder Opko Health, Inc. sold 50,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $32.61, for a total value of $1,630,500.00. Following the sale, the insider now owns 3,333,403 shares in the company, valued at $108,702,271.83. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kevin Feeley sold 895 shares of the business’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 value of $29,830.35. Following the sale, the chief financial officer now directly owns 39,910 shares of the company’s stock, valued at $1,330,200.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 618,668 shares of company stock valued at $20,542,738. 28.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC bought a new position in GeneDx during the 2nd quarter valued at $34,000. nVerses Capital LLC purchased a new stake in shares of GeneDx in the second quarter valued at about $50,000. CWM LLC bought a new position in shares of GeneDx during the third quarter valued at about $89,000. SG Americas Securities LLC purchased a new position in GeneDx during the third quarter worth about $198,000. Finally, Thompson Davis & CO. Inc. boosted its holdings in GeneDx by 20.8% during the first quarter. Thompson Davis & CO. Inc. now owns 24,094 shares of the company’s stock worth $220,000 after purchasing an additional 4,150 shares during the last quarter. 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.