GeneDx (NASDAQ:WGS) Hits New 52-Week High After Better-Than-Expected Earnings

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) reached a new 52-week high during trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $105.82 and last traded at $96.35, with a volume of 1152812 shares trading hands. The stock had previously closed at $76.35.

The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.66. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%.

Analyst Ratings Changes

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

Insider Buying and Selling at GeneDx

In other news, CFO Kevin Feeley sold 12,019 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $73.76, for a total transaction of $886,521.44. Following the completion of the sale, the chief financial officer now directly owns 32,932 shares of the company’s stock, valued at $2,429,064.32. This represents a 26.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Katherine Stueland sold 51,420 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $94.48, for a total transaction of $4,858,161.60. Following the sale, the chief executive officer now directly owns 1,720 shares of the company’s stock, valued at $162,505.60. This represents a 96.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 139,603 shares of company stock valued at $12,223,041. Company insiders own 27.30% of the company’s stock.

Institutional Investors Weigh In On GeneDx

Institutional investors have recently bought and sold shares of the business. MCF Advisors LLC increased its stake in GeneDx by 107.7% in the 4th quarter. MCF Advisors LLC now owns 351 shares of the company’s stock valued at $27,000 after buying an additional 182 shares during the period. Sterling Capital Management LLC grew its holdings in shares of GeneDx by 877.8% during the 4th quarter. Sterling Capital Management LLC now owns 352 shares of the company’s stock valued at $27,000 after acquiring an additional 316 shares in the last quarter. Global Retirement Partners LLC purchased a new position in shares of GeneDx during the 4th quarter valued at $28,000. Lazard Asset Management LLC acquired a new position in shares of GeneDx in the fourth quarter worth $35,000. Finally, Comerica Bank purchased a new stake in shares of GeneDx during the fourth quarter worth $50,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

GeneDx Trading Up 47.7 %

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 business has a 50-day moving average of $77.30 and a 200-day moving average of $61.79. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of -36.26 and a beta of 2.01.

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.