GeneDx (NASDAQ:WGS) Stock Price Up 5.9% – Time to Buy?

GeneDx Holdings Corp. (NASDAQ:WGS)’s stock price shot up 5.9% on Friday . The stock traded as high as $59.59 and last traded at $59.29. 173,898 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 417,982 shares. The stock had previously closed at $56.00.

Analyst Ratings Changes

Several brokerages recently issued reports on WGS. TD Cowen increased their target price on shares of GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group raised their target price on GeneDx from $32.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday. BTIG Research boosted their target price on GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Craig Hallum increased their price target on GeneDx from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company initiated coverage on GeneDx in a report on Tuesday, August 27th. They set an “equal weight” rating and a $34.00 price objective for the company. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $41.67.

GeneDx Trading Up 7.2 %

The company has a quick ratio of 2.22, a current ratio of 2.38 and a debt-to-equity ratio of 0.27. The firm has a 50 day moving average price of $40.84 and a 200 day moving average price of $29.40. The stock has a market capitalization of $1.57 billion, a PE ratio of -11.59 and a beta of 2.32.

GeneDx (NASDAQ:WGS) last released its quarterly earnings results on Tuesday, July 30th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.15. The business had revenue of $70.51 million during the quarter, compared to analyst estimates of $58.90 million. GeneDx had a negative return on equity of 22.71% and a negative net margin of 48.21%. Equities analysts expect that GeneDx Holdings Corp. will post -0.75 EPS for the current fiscal year.

Insider Activity at GeneDx

In other GeneDx news, CFO Kevin Feeley sold 895 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $33.33, for a total value of $29,830.35. Following the completion of the sale, the chief financial officer now owns 39,910 shares in the company, valued at approximately $1,330,200.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, major shareholder Opko Health, Inc. sold 100,000 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $31.82, for a total transaction of $3,182,000.00. Following the completion of the transaction, the insider now owns 2,871,570 shares in the company, valued at approximately $91,373,357.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevin Feeley sold 895 shares of GeneDx stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $33.33, for a total transaction of $29,830.35. Following the completion of the sale, the chief financial officer now directly owns 39,910 shares in the company, valued at approximately $1,330,200.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 593,668 shares of company stock valued at $19,735,488 over the last ninety days. Corporate insiders own 28.10% of the company’s stock.

Institutional Investors Weigh In On GeneDx

Several large investors have recently modified their holdings of the stock. Acadian Asset Management LLC bought a new position in GeneDx during the second quarter valued at $34,000. nVerses Capital LLC bought a new position in shares of GeneDx during the 2nd quarter worth $50,000. CWM LLC purchased a new stake in GeneDx in the 3rd quarter worth about $89,000. Thompson Davis & CO. Inc. raised its stake in GeneDx by 20.8% in the 1st quarter. Thompson Davis & CO. Inc. now owns 24,094 shares of the company’s stock valued at $220,000 after acquiring an additional 4,150 shares during the period. Finally, American Century Companies Inc. lifted 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 valued at $451,000 after purchasing an additional 4,573 shares during the last quarter. Hedge funds and other institutional investors own 61.72% 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.