GeneDx (NASDAQ:WGS) Sets New 52-Week High at $30.76

GeneDx Holdings Corp. (NASDAQ:WGS) hit a new 52-week high on Tuesday . The stock traded as high as $30.76 and last traded at $30.66, with a volume of 160729 shares traded. The stock had previously closed at $28.69.

Wall Street Analysts Forecast Growth

WGS has been the topic of several analyst reports. Jefferies Financial Group assumed coverage on GeneDx in a research note on Monday, June 3rd. They set a “hold” rating and a $21.00 price objective on the stock. BTIG Research boosted their target price on GeneDx from $19.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. TD Cowen boosted their target price on GeneDx from $14.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Finally, The Goldman Sachs Group boosted their target price on GeneDx to $11.00 and gave the company a “neutral” rating in a research report on Monday, April 15th.

GeneDx Stock Up 0.9 %

The company has a quick ratio of 2.99, a current ratio of 3.22 and a debt-to-equity ratio of 0.25. The business has a fifty day moving average of $22.88 and a 200-day moving average of $12.17.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings results on Monday, April 29th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.35. The firm had revenue of $62.42 million during the quarter, compared to analyst estimates of $49.80 million. GeneDx had a negative return on equity of 36.23% and a negative net margin of 60.86%. Analysts anticipate that GeneDx Holdings Corp. will post -0.92 EPS for the current year.

Insiders Place Their Bets

In other GeneDx news, major shareholder Opko Health, Inc. sold 14,082 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $28.23, for a total transaction of $397,534.86. Following the completion of the sale, the insider now owns 3,469,521 shares in the company, valued at $97,944,577.83. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other GeneDx news, major shareholder Opko Health, Inc. sold 14,082 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $28.23, for a total transaction of $397,534.86. Following the completion of the sale, the insider now owns 3,469,521 shares in the company, valued at $97,944,577.83. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Casdin Capital, Llc bought 50,000 shares of the stock in a transaction on Monday, May 13th. The shares were bought at an average price of $23.31 per share, with a total value of $1,165,500.00. Following the acquisition, the director now owns 2,753,509 shares of the company’s stock, valued at $64,184,294.79. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 175,804 shares of company stock worth $3,771,670 and sold 85,387 shares worth $2,191,856. 28.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On GeneDx

Large investors have recently made changes to their positions in the business. Thompson Davis & CO. Inc. increased its position in shares of GeneDx by 99.4% during the fourth quarter. Thompson Davis & CO. Inc. now owns 19,944 shares of the company’s stock worth $55,000 after purchasing an additional 9,944 shares in the last quarter. PFG Investments LLC acquired a new position in shares of GeneDx in the 1st quarter valued at $95,000. Decheng Capital LLC acquired a new position in shares of GeneDx in the 4th quarter valued at $285,000. Gagnon Advisors LLC increased its position in shares of GeneDx by 41.6% in the 1st quarter. Gagnon Advisors LLC now owns 211,393 shares of the company’s stock valued at $1,930,000 after acquiring an additional 62,059 shares during the period. Finally, Gagnon Securities LLC increased its position in shares of GeneDx by 59.3% in the 1st quarter. Gagnon Securities LLC now owns 556,305 shares of the company’s stock valued at $5,079,000 after acquiring an additional 207,027 shares during the period. 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.