GeneDx (NASDAQ:WGS) Posts Quarterly Earnings Results, Beats Estimates By $0.25 EPS

GeneDx (NASDAQ:WGS) released its quarterly earnings results on Tuesday. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.21) by $0.25, Zacks reports. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The company had revenue of $76.90 million for the quarter, compared to analyst estimates of $64.98 million. During the same quarter last year, the business earned ($0.82) earnings per share. The firm’s revenue was up 44.3% on a year-over-year basis. GeneDx updated its FY 2024 guidance to EPS.

GeneDx Trading Down 5.1 %

NASDAQ WGS traded down $4.18 on Friday, reaching $77.51. 695,993 shares of the company were exchanged, compared to its average volume of 439,366. GeneDx has a fifty-two week low of $1.16 and a fifty-two week high of $89.11. The stock has a market capitalization of $2.09 billion, a P/E ratio of -24.72 and a beta of 2.32. The business’s fifty day moving average price is $46.60 and its 200 day moving average price is $32.76. The company has a current ratio of 2.40, a quick ratio of 2.22 and a debt-to-equity ratio of 0.25.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on WGS. TD Cowen raised their target price on GeneDx from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. BTIG Research raised their price objective on GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Wells Fargo & Company boosted their price objective on GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday. The Goldman Sachs Group lifted their target price on shares of GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Craig Hallum boosted their target price on shares of GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.33.

Insider Transactions at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 2,154 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $66.60, for a total value of $143,456.40. Following the transaction, the chief executive officer now directly owns 105,426 shares in the company, valued at $7,021,371.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other GeneDx news, CEO Katherine Stueland sold 2,154 shares of the firm’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 of the company’s stock, valued at $7,021,371.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Opko Health, Inc. sold 12,994 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $29.35, for a total value of $381,373.90. Following the completion of the transaction, the insider now directly owns 2,971,570 shares in the company, valued at approximately $87,215,579.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 269,829 shares of company stock worth $8,956,152 in the last quarter. Company insiders own 27.30% of the company’s stock.

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.