GeneDx (NASDAQ:WGS) Trading Up 6.6%

GeneDx Holdings Corp. (NASDAQ:WGS)’s share price shot up 6.6% during mid-day trading on Thursday . The stock traded as high as $31.60 and last traded at $31.57. 232,574 shares changed hands during trading, a decline of 42% from the average session volume of 398,704 shares. The stock had previously closed at $29.62.

Analysts Set New Price Targets

Several research firms have recently issued reports on WGS. Wells Fargo & Company assumed coverage on shares of GeneDx in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $34.00 price objective on the stock. The Goldman Sachs Group raised their target price on shares of GeneDx from $28.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. BTIG Research raised their target price on shares of GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Craig Hallum raised their target price on shares of GeneDx from $43.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Jefferies Financial Group assumed coverage on shares of GeneDx in a report on Monday, June 3rd. They issued a “hold” rating and a $21.00 target price for the company. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.00.

GeneDx Stock Performance

The firm has a market capitalization of $852.10 million, a P/E ratio of -6.20 and a beta of 2.29. The firm has a 50-day moving average price of $31.87 and a two-hundred day moving average price of $21.27. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.38 and a quick ratio of 2.22.

GeneDx (NASDAQ:WGS) last released its earnings results on Tuesday, July 30th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.15. GeneDx had a negative return on equity of 22.71% and a negative net margin of 48.21%. On average, analysts forecast that GeneDx Holdings Corp. will post -0.75 EPS for the current fiscal year.

Insider Transactions at GeneDx

In other news, major shareholder Opko Health, Inc. sold 50,000 shares of GeneDx stock in a transaction on Monday, August 19th. The stock was sold at an average price of $34.49, for a total transaction of $1,724,500.00. Following the completion of the sale, the insider now directly owns 2,646,972 shares in the company, valued at $91,294,064.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Katherine Stueland sold 2,154 shares of GeneDx stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $33.54, for a total value of $72,245.16. Following the completion of the sale, the chief executive officer now directly owns 92,550 shares in the company, valued at $3,104,127. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Opko Health, Inc. sold 50,000 shares of GeneDx stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $34.49, for a total value of $1,724,500.00. Following the completion of the sale, the insider now owns 2,646,972 shares of the company’s stock, valued at $91,294,064.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 753,210 shares of company stock worth $24,344,683. 28.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On GeneDx

A number of large investors have recently added to or reduced their stakes in WGS. Decheng Capital LLC bought a new position in GeneDx in the fourth quarter worth about $285,000. Thompson Davis & CO. Inc. raised its holdings in GeneDx by 20.8% in the first quarter. Thompson Davis & CO. Inc. now owns 24,094 shares of the company’s stock worth $220,000 after purchasing an additional 4,150 shares in the last quarter. Vanguard Group Inc. raised its holdings in GeneDx by 4.2% in the first quarter. Vanguard Group Inc. now owns 707,612 shares of the company’s stock worth $6,460,000 after purchasing an additional 28,678 shares in the last quarter. Gagnon Advisors LLC raised its holdings in GeneDx by 41.6% in the first quarter. Gagnon Advisors LLC now owns 211,393 shares of the company’s stock worth $1,930,000 after purchasing an additional 62,059 shares in the last quarter. Finally, Gagnon Securities LLC raised its holdings in GeneDx by 59.3% in the first quarter. Gagnon Securities LLC now owns 556,305 shares of the company’s stock worth $5,079,000 after purchasing an additional 207,027 shares in the last quarter. 61.72% of the stock is currently owned by institutional investors.

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.