GeneDx (NASDAQ:WGS) Hits New 52-Week High – Should You Buy?

GeneDx Holdings Corp. (NASDAQ:WGS)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $89.66 and last traded at $89.61, with a volume of 1259011 shares traded. The stock had previously closed at $79.14.

Wall Street Analyst Weigh In

Several equities research analysts have commented on WGS shares. The Goldman Sachs Group increased their price objective on shares of GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Wells Fargo & Company increased their price target on GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Craig Hallum boosted their price objective on GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, GeneDx has a consensus rating of “Moderate Buy” and an average price target of $59.33.

GeneDx Price 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 business’s fifty day moving average is $76.95 and its 200 day moving average is $51.66. The company has a market cap of $2.46 billion, a P/E ratio of -28.81 and a beta of 2.02.

GeneDx (NASDAQ:WGS) last issued its earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.25. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. The firm had revenue of $76.90 million for the quarter, compared to analyst estimates of $64.98 million. During the same period in the previous year, the company posted ($0.82) earnings per share. The business’s revenue was up 44.3% on a year-over-year basis. As a group, sell-side analysts anticipate that GeneDx Holdings Corp. will post -0.24 EPS for the current year.

Insider Transactions at GeneDx

In related news, CEO Katherine Stueland sold 18,006 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $78.18, for a total transaction of $1,407,709.08. Following the sale, the chief executive officer now owns 53,140 shares of the company’s stock, valued at approximately $4,154,485.20. This represents a 25.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kevin Feeley sold 1,137 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $76.37, for a total transaction of $86,832.69. Following the completion of the transaction, the chief financial officer now directly owns 24,731 shares of the company’s stock, valued at approximately $1,888,706.47. The trade was a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,143,039 shares of company stock worth $84,816,828 over the last quarter. Corporate insiders own 27.30% of the company’s stock.

Hedge Funds Weigh In On GeneDx

A number of institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC bought a new position in shares of GeneDx in the 2nd quarter worth $34,000. CWM LLC purchased a new position in GeneDx in the third quarter worth $89,000. SG Americas Securities LLC bought a new position in GeneDx in the third quarter valued at $198,000. Point72 DIFC Ltd purchased a new stake in GeneDx during the third quarter valued at about $220,000. Finally, Palumbo Wealth Management LLC bought a new stake in GeneDx during the third quarter worth about $287,000. 61.72% of the stock is currently owned by 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.