GeneDx (NASDAQ:WGS) Stock Price Up 7.3% – Time to Buy?

GeneDx Holdings Corp. (NASDAQ:WGS) shares were up 7.3% during mid-day trading on Monday . The company traded as high as $86.36 and last traded at $84.89. Approximately 292,402 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 451,198 shares. The stock had previously closed at $79.14.

Analyst Ratings Changes

WGS has been the topic of a number of recent research reports. The Goldman Sachs Group raised 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. Wells Fargo & Company increased their target price on shares of GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, Craig Hallum upped their price target 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. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.33.

GeneDx Price Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. The firm has a market cap of $2.43 billion, a PE ratio of -28.49 and a beta of 2.03. The firm has a fifty day simple moving average of $76.28 and a two-hundred day simple moving average of $51.22.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates 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 firm’s revenue for the quarter was up 44.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.82) EPS. Equities analysts predict that GeneDx Holdings Corp. will post -0.24 EPS for the current fiscal year.

Insider Transactions at GeneDx

In other news, major shareholder School Of Medicine At Mo Icahn sold 20,359 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $69.78, for a total value of $1,420,651.02. Following the completion of the transaction, the insider now directly owns 2,846,474 shares in the company, valued at $198,626,955.72. This trade represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Katherine Stueland sold 2,154 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $66.60, for a total value of $143,456.40. Following the completion of the sale, the chief executive officer now owns 105,426 shares in the company, valued at approximately $7,021,371.60. This represents a 2.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,123,603 shares of company stock valued at $83,300,382 in the last 90 days. Insiders own 27.30% of the company’s stock.

Institutional Trading of GeneDx

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp purchased a new stake in GeneDx during the second quarter worth $991,000. Rhumbline Advisers increased its stake in shares of GeneDx by 8,096.4% in the 2nd quarter. Rhumbline Advisers now owns 18,360 shares of the company’s stock valued at $480,000 after purchasing an additional 18,136 shares in the last quarter. Acadian Asset Management LLC acquired a new position in GeneDx in the 2nd quarter worth about $34,000. American Century Companies Inc. raised its holdings in GeneDx by 36.1% in the 2nd 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 position in GeneDx during the second quarter worth approximately $2,362,000. 61.72% of the stock is owned by institutional investors and hedge funds.

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.