GeneDx (NASDAQ:WGS) Stock Price Up 8% – Here’s What Happened

GeneDx Holdings Corp. (NASDAQ:WGS) shares were up 8% during trading on Monday . The company traded as high as $64.08 and last traded at $64.28. Approximately 346,260 shares changed hands during trading, a decline of 66% from the average daily volume of 1,026,019 shares. The stock had previously closed at $59.54.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on WGS. The Goldman Sachs Group upped their target price on GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Wells Fargo & Company raised their target price on shares of GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. TD Cowen upped their price target on shares of GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Finally, Craig Hallum increased their price target on shares of GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a research note 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $70.67.

GeneDx Price Performance

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 50 day moving average price of $76.62 and a 200 day moving average price of $59.99. The firm has a market cap of $1.95 billion, a PE ratio of -22.82 and a beta of 2.01.

Insider Activity at GeneDx

In other news, major shareholder School Of Medicine At Mo Icahn sold 126,782 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $70.78, for a total transaction of $8,973,629.96. Following the completion of the transaction, the insider now directly owns 2,719,692 shares of the company’s stock, valued at approximately $192,499,799.76. This represents a 4.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jason Ryan sold 31,510 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $71.28, for a total value of $2,246,032.80. Following the completion of the sale, the director now directly owns 15,490 shares of the company’s stock, valued at $1,104,127.20. This represents a 67.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 363,669 shares of company stock worth $28,061,081 in the last three months. Insiders own 27.30% of the company’s stock.

Hedge Funds Weigh In On GeneDx

A number of institutional investors and hedge funds have recently made changes to their positions in WGS. MCF Advisors LLC boosted its holdings in GeneDx by 107.7% during the fourth quarter. MCF Advisors LLC now owns 351 shares of the company’s stock worth $27,000 after buying an additional 182 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in shares of GeneDx during the 4th quarter valued at approximately $28,000. CWM LLC purchased a new stake in shares of GeneDx during the 3rd quarter worth approximately $89,000. KLP Kapitalforvaltning AS acquired a new stake in shares of GeneDx in the 4th quarter worth approximately $200,000. Finally, Evolution Wealth Advisors LLC purchased a new position in GeneDx in the 4th quarter valued at approximately $202,000. 61.72% of the stock is owned by institutional investors and hedge funds.

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.