GeneDx (NASDAQ:WGS) Reaches New 1-Year High on Analyst Upgrade

GeneDx Holdings Corp. (NASDAQ:WGSGet Free Report)’s share price reached a new 52-week high during trading on Tuesday after TD Cowen raised their price target on the stock from $75.00 to $118.00. TD Cowen currently has a buy rating on the stock. GeneDx traded as high as $89.66 and last traded at $89.61, with a volume of 1259011 shares. The stock had previously closed at $79.14.

WGS has been the subject of a number of other research reports. Craig Hallum raised their price objective on shares of GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company raised their price objective on shares of GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group increased their target price on shares of GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $70.67.

Get Our Latest Research Report on WGS

Insider Activity

In related news, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of GeneDx stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $75.00, for a total value of $64,935,000.00. Following the transaction, the insider now owns 2,866,833 shares in the company, valued at $215,012,475. This trade represents a 23.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Katherine Stueland sold 18,006 shares of GeneDx stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $78.18, for a total transaction of $1,407,709.08. Following the completion of the transaction, the chief executive officer now owns 53,140 shares in the company, valued at $4,154,485.20. This trade represents a 25.31 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,143,039 shares of company stock worth $84,816,828. 27.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new stake in GeneDx in the 2nd quarter worth $34,000. CWM LLC acquired a new stake in GeneDx in the 3rd quarter worth $89,000. SG Americas Securities LLC acquired a new stake in GeneDx in the 3rd quarter worth $198,000. Point72 DIFC Ltd acquired a new stake in GeneDx in the 3rd quarter worth $220,000. Finally, Palumbo Wealth Management LLC acquired a new stake in GeneDx in the 3rd quarter worth $287,000. Institutional investors own 61.72% of the company’s stock.

GeneDx Stock Down 0.5 %

The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of -31.05 and a beta of 2.02. The firm’s 50-day simple moving average is $77.48 and its 200-day simple moving average is $52.46.

GeneDx (NASDAQ:WGSGet Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.25. The company had revenue of $76.90 million for the quarter, compared to analyst estimates of $64.98 million. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The business’s quarterly revenue was up 44.3% on a year-over-year basis. During the same period last year, the business posted ($0.82) EPS. Sell-side analysts forecast that GeneDx Holdings Corp. will post -0.24 earnings per share for the current year.

About GeneDx

(Get Free Report)

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.

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