GeneDx (NASDAQ:WGS) Trading Up 5.8%

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) shot up 5.8% during mid-day trading on Monday . The stock traded as high as $35.16 and last traded at $34.64. 232,856 shares were traded during trading, a decline of 42% from the average session volume of 402,627 shares. The stock had previously closed at $32.74.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. The Goldman Sachs Group increased their target price on GeneDx from $28.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Craig Hallum raised their price objective on shares of GeneDx from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. BTIG Research increased their price target on shares of GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. TD Cowen lifted their price target on GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Jefferies Financial Group began 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. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, GeneDx currently has a consensus rating of “Moderate Buy” and an average price target of $38.80.

GeneDx Trading Down 0.9 %

The company has a quick ratio of 2.99, a current ratio of 2.38 and a debt-to-equity ratio of 0.27. The firm’s 50 day moving average is $29.99 and its two-hundred day moving average is $18.19. The stock has a market cap of $883.71 million, a price-to-earnings ratio of -6.53 and a beta of 2.29.

Insider Transactions at GeneDx

In related news, Director Casdin Capital, Llc bought 18,304 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were purchased at an average cost of $20.61 per share, with a total value of $377,245.44. Following the completion of the transaction, the director now directly owns 2,923,509 shares of the company’s stock, valued at $60,253,520.49. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Casdin Capital, Llc bought 18,304 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was purchased at an average price of $20.61 per share, for a total transaction of $377,245.44. Following the transaction, the director now owns 2,923,509 shares in the company, valued at $60,253,520.49. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Opko Health, Inc. sold 100,000 shares of GeneDx stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $31.82, for a total value of $3,182,000.00. Following the sale, the insider now directly owns 2,871,570 shares in the company, valued at approximately $91,373,357.40. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 125,804 shares of company stock worth $2,606,170 and have sold 663,124 shares worth $21,294,497. Insiders own 28.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of WGS. Oracle Investment Management Inc. raised its holdings in GeneDx by 531.7% during the first quarter. Oracle Investment Management Inc. now owns 1,126,607 shares of the company’s stock worth $10,286,000 after purchasing an additional 948,253 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of GeneDx in the 2nd quarter worth $9,575,000. Divisadero Street Capital Management LP acquired a new stake in shares of GeneDx in the second quarter valued at $5,886,000. Gagnon Securities LLC boosted its stake in GeneDx by 59.3% during the first quarter. Gagnon Securities LLC now owns 556,305 shares of the company’s stock valued at $5,079,000 after buying an additional 207,027 shares in the last quarter. Finally, Decheng Capital LLC acquired a new position in GeneDx during the fourth quarter worth about $285,000. 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.