GeneDx (NASDAQ:WGS) Stock Price Up 8.8% Following Insider Buying Activity
by Teresa Graham · The Cerbat GemGeneDx Holdings Corp. (NASDAQ:WGS – Get Free Report)’s share price was up 8.8% during trading on Thursday after an insider bought additional shares in the company. The stock traded as high as $48.65 and last traded at $48.68. Approximately 781,358 shares were traded during trading, a decline of 22% from the average daily volume of 1,007,135 shares. The stock had previously closed at $44.73.
Specifically, Director Casdin Capital, Llc bought 140,000 shares of GeneDx stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average cost of $43.81 per share, for a total transaction of $6,133,400.00. Following the completion of the acquisition, the director directly owned 3,507,164 shares of the company’s stock, valued at approximately $153,648,854.84. The trade was a 4.16% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Casdin Capital, Llc bought 185,000 shares of GeneDx stock in a transaction that occurred on Tuesday, May 19th. The stock was bought at an average price of $42.60 per share, for a total transaction of $7,881,000.00. Following the completion of the acquisition, the director directly owned 3,367,164 shares of the company’s stock, valued at $143,441,186.40. The trade was a 5.81% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In other GeneDx news, Director Casdin Capital, Llc purchased 175,000 shares of the company’s stock in a transaction on Monday, May 18th. The shares were purchased at an average cost of $42.55 per share, with a total value of $7,446,250.00. Following the completion of the purchase, the director owned 3,182,164 shares in the company, valued at $135,401,078.20. This represents a 5.82% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Analyst Ratings Changes
Several brokerages have issued reports on WGS. Canaccord Genuity Group set a $75.00 price target on GeneDx and gave the company a “buy” rating in a research note on Tuesday, May 5th. Jefferies Financial Group set a $150.00 price target on GeneDx in a research note on Monday, February 23rd. Zacks Research lowered GeneDx from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. Craig Hallum reissued a “buy” rating and issued a $85.00 price target on shares of GeneDx in a research note on Tuesday, May 5th. Finally, Wall Street Zen cut shares of GeneDx from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, GeneDx presently has an average rating of “Moderate Buy” and a consensus price target of $96.43.
View Our Latest Report on GeneDx
GeneDx Price Performance
The firm has a market capitalization of $1.46 billion, a PE ratio of -18.31 and a beta of 2.06. The business has a 50-day moving average of $61.30 and a 200 day moving average of $99.89. The company has a current ratio of 3.09, a quick ratio of 2.95 and a debt-to-equity ratio of 0.38.
GeneDx (NASDAQ:WGS – Get Free Report) last released its quarterly earnings results on Monday, May 4th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.22). GeneDx had a negative net margin of 17.58% and a positive return on equity of 9.15%. The company had revenue of $102.25 million during the quarter, compared to analysts’ expectations of $112.46 million. During the same period in the previous year, the company posted ($0.23) earnings per share. As a group, research analysts anticipate that GeneDx Holdings Corp. will post -1 EPS for the current fiscal year.
Institutional Investors Weigh In On GeneDx
Several large investors have recently added to or reduced their stakes in WGS. Royal Bank of Canada boosted its stake in GeneDx by 30.2% in the 1st quarter. Royal Bank of Canada now owns 29,479 shares of the company’s stock worth $2,611,000 after purchasing an additional 6,840 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in GeneDx by 6.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,641 shares of the company’s stock worth $677,000 after purchasing an additional 453 shares during the period. NewEdge Advisors LLC boosted its stake in GeneDx by 270,700.0% in the 1st quarter. NewEdge Advisors LLC now owns 2,708 shares of the company’s stock worth $240,000 after purchasing an additional 2,707 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in GeneDx by 67.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 28,224 shares of the company’s stock worth $2,500,000 after purchasing an additional 11,375 shares during the period. Finally, Cetera Investment Advisers bought a new position in GeneDx in the 2nd quarter worth about $249,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.
About GeneDx
GeneDx is a clinical diagnostics company specializing in comprehensive genetic and genomic testing for rare and inherited disorders. The company offers a broad portfolio of assays, including targeted gene panels, whole exome sequencing, whole genome sequencing and chromosomal microarray analysis. GeneDx’s laboratory services support the diagnosis of a wide range of conditions—from rare pediatric diseases and hereditary cancer syndromes to neuromuscular and metabolic disorders—by providing clinicians with detailed variant interpretation and reporting.
Founded in 2000 and based in Gaithersburg, Maryland, GeneDx was established with the aim of accelerating the translation of genomic discoveries into clinical care.