GeneDx (NASDAQ:WGS) Trading 5.5% Higher – Should You Buy?

GeneDx Holdings Corp. (NASDAQ:WGS)’s share price shot up 5.5% during mid-day trading on Thursday . The company traded as high as $75.47 and last traded at $73.20. 136,458 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 449,613 shares. The stock had previously closed at $69.38.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WGS. BTIG Research lifted their price target on shares of GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. 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 research report on Wednesday, October 30th. Wells Fargo & Company boosted their price objective 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 boosted their price objective on shares of GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, The Goldman Sachs Group boosted their price objective on shares of GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.33.

GeneDx Stock Performance

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 firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of -25.31 and a beta of 2.11. The stock’s 50 day moving average price is $59.61 and its two-hundred day moving average price is $39.55.

GeneDx (NASDAQ:WGS) last posted its quarterly 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. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The business had revenue of $76.90 million for the quarter, compared to analysts’ expectations of $64.98 million. During the same period in the prior year, the company posted ($0.82) EPS. The business’s revenue for the quarter was up 44.3% on a year-over-year basis. On average, analysts forecast that GeneDx Holdings Corp. will post -0.24 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $75.00, for a total value of $64,935,000.00. Following the sale, the insider now directly owns 2,866,833 shares in the company, valued at $215,012,475. The trade was a 23.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin Feeley sold 895 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now owns 39,910 shares in the company, valued at $1,330,200.30. This represents a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,097,090 shares of company stock worth $81,094,171 in the last three months. Corporate insiders own 27.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WGS. Vanguard Group Inc. lifted its holdings in GeneDx by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 707,612 shares of the company’s stock valued at $6,460,000 after purchasing an additional 28,678 shares in the last quarter. Oracle Investment Management Inc. lifted its holdings in GeneDx by 531.7% in the 1st quarter. Oracle Investment Management Inc. now owns 1,126,607 shares of the company’s stock valued at $10,286,000 after purchasing an additional 948,253 shares in the last quarter. Legal Advantage Investments Inc. purchased a new position in GeneDx in the 2nd quarter valued at about $518,000. Assenagon Asset Management S.A. purchased a new position in GeneDx in the 2nd quarter valued at about $9,575,000. Finally, Calamos Advisors LLC purchased a new position in GeneDx in the 2nd quarter valued at about $1,137,000. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

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.