GeneDx (NASDAQ:WGS) Trading 6% Higher – Here’s Why

22 Jan 2025, 18:01 by Kim Johansen · The Markets Daily

Shares of GeneDx Holdings Corp. (NASDAQ:WGS – Get Free Report) traded up 6% on Wednesday . The stock traded as high as $78.18 and last traded at $78.82. 56,881 shares traded hands during trading, a decline of 94% from the average session volume of 941,632 shares. The stock had previously closed at $74.36.

Wall Street Analyst Weigh In

A number of equities analysts have commented on WGS shares. Wells Fargo & Company lifted their price target on GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. TD Cowen upped their price target on shares of GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. The Goldman Sachs Group raised their price target on shares of GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Craig Hallum upped their price objective on shares of GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $70.67.

Read Our Latest Analysis on GeneDx

GeneDx Trading Up 5.2 %

The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25. The firm’s fifty day moving average is $77.64 and its two-hundred day moving average is $55.80. The firm has a market cap of $2.15 billion, a P/E ratio of -25.40 and a beta of 2.02.

GeneDx (NASDAQ:WGS – Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.25. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The firm had revenue of $76.90 million for the quarter, compared to analyst estimates of $64.98 million. During the same quarter in the previous year, the firm posted ($0.82) EPS. The company’s revenue for the quarter was up 44.3% compared to the same quarter last year. Analysts predict that GeneDx Holdings Corp. will post -0.24 earnings per share for the current fiscal year.

Insider Transactions at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 2,154 shares of the firm’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 transaction of $143,456.40. Following the completion of the transaction, the chief executive officer now owns 105,426 shares of the company’s stock, valued at approximately $7,021,371.60. This trade represents a 2.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jason Ryan sold 31,510 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $71.28, for a total value of $2,246,032.80. Following the completion of the sale, the director now directly owns 15,490 shares in the company, valued at approximately $1,104,127.20. This represents a 67.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,229,965 shares of company stock valued at $93,006,163. Corporate insiders own 27.30% of the company’s stock.

Hedge Funds Weigh In On GeneDx

Large investors have recently modified their holdings of the stock. MCF Advisors LLC increased its stake in GeneDx by 107.7% during the 4th quarter. MCF Advisors LLC now owns 351 shares of the company’s stock valued at $27,000 after purchasing an additional 182 shares in the last quarter. CWM LLC bought a new stake in shares of GeneDx during the third quarter valued at approximately $89,000. Evolution Wealth Advisors LLC purchased a new position in GeneDx in the 4th quarter worth approximately $202,000. Verition Fund Management LLC raised its holdings in GeneDx by 12.9% in the 3rd quarter. Verition Fund Management LLC now owns 25,845 shares of the company’s stock worth $1,097,000 after acquiring an additional 2,945 shares during the last quarter. Finally, PFG Investments LLC bought a new position in GeneDx in the 4th quarter valued at approximately $252,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

GeneDx Company Profile

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