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

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) hit a new 52-week high during trading 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. The stock had previously closed at $79.14.

WGS has been the topic of several other reports. Wells Fargo & Company lifted their target price on shares of GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Craig Hallum lifted their price objective on GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group increased their target price on GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $70.67.

Insider Buying and Selling at GeneDx

In other news, CEO Katherine Stueland sold 2,154 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $66.60, for a total transaction of $143,456.40. Following the completion of the sale, the chief executive officer now owns 105,426 shares in the company, valued at $7,021,371.60. The trade was a 2.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 shares were sold at an average price of $75.00, for a total value of $64,935,000.00. Following the completion of the transaction, the insider now owns 2,866,833 shares in the company, valued at approximately $215,012,475. This represents a 23.20 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders 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

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp bought a new stake in shares of GeneDx during the 2nd quarter valued at $991,000. Rhumbline Advisers increased its holdings in GeneDx by 8,096.4% in the second quarter. Rhumbline Advisers now owns 18,360 shares of the company’s stock valued at $480,000 after purchasing an additional 18,136 shares during the last quarter. Acadian Asset Management LLC acquired a new position in GeneDx in the second quarter valued at about $34,000. American Century Companies Inc. boosted its holdings in GeneDx by 36.1% during the second quarter. American Century Companies Inc. now owns 17,258 shares of the company’s stock worth $451,000 after buying an additional 4,573 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of GeneDx during the 2nd quarter worth about $2,362,000. 61.72% of the stock is owned by institutional investors.

GeneDx Price Performance

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 company has a 50-day moving average price of $77.48 and a 200-day moving average price of $52.46. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40.

GeneDx (NASDAQ:WGS) last issued 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. The firm had revenue of $76.90 million during the quarter, compared to the consensus estimate of $64.98 million. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The business’s quarterly revenue was up 44.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.82) earnings per share. On average, equities research 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.