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

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) reached a new 52-week high during trading on Tuesday . The stock traded as high as $89.66 and last traded at $89.61, with a volume of 1259011 shares. The stock had previously closed at $79.14.

Analyst Upgrades and Downgrades

WGS has been the subject of a number of recent research reports. Craig Hallum boosted their price objective on shares of GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company boosted their price target 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. Finally, The Goldman Sachs Group raised their price objective on GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $59.33.

GeneDx Stock Up 13.2 %

The company has a market capitalization of $2.46 billion, a P/E ratio of -28.81 and a beta of 2.02. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. The stock’s fifty day moving average is $76.95 and its 200 day moving average is $51.66.

GeneDx (NASDAQ:WGS) last posted its earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.25. The company had revenue of $76.90 million during the quarter, compared to analyst estimates of $64.98 million. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. GeneDx’s revenue for the quarter was up 44.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.82) earnings per share. Research analysts predict that GeneDx Holdings Corp. will post -0.24 EPS for the current fiscal year.

Insider Transactions at GeneDx

In related news, CFO Kevin Feeley sold 1,137 shares of the business’s stock in a transaction dated 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 in the company, valued at $1,888,706.47. The trade was a 4.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $75.00, for a total transaction of $64,935,000.00. Following the completion of the sale, the insider now owns 2,866,833 shares of the company’s stock, valued at $215,012,475. This trade represents a 23.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,143,039 shares of company stock worth $84,816,828. 27.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GeneDx

Hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp bought a new stake in shares of GeneDx during the 2nd quarter valued at $991,000. Rhumbline Advisers lifted its position in GeneDx by 8,096.4% during the 2nd quarter. Rhumbline Advisers now owns 18,360 shares of the company’s stock valued at $480,000 after acquiring an additional 18,136 shares during the period. Acadian Asset Management LLC bought a new stake in GeneDx during the second quarter worth about $34,000. American Century Companies Inc. grew its holdings in GeneDx by 36.1% in the second quarter. American Century Companies Inc. now owns 17,258 shares of the company’s stock worth $451,000 after purchasing an additional 4,573 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in GeneDx in the second quarter worth about $2,362,000. 61.72% of the stock is currently owned by institutional investors.

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.