GeneDx (NASDAQ:WGS) Shares Gap Up After Analyst Upgrade

GeneDx Holdings Corp. (NASDAQ:WGS) gapped up before the market opened on Wednesday after BTIG Research raised their price target on the stock from $19.00 to $35.00. The stock had previously closed at $27.25, but opened at $28.25. BTIG Research currently has a buy rating on the stock. GeneDx shares last traded at $27.04, with a volume of 30,667 shares trading hands.

Other equities research analysts also recently issued reports about the stock. Jefferies Financial Group started coverage on shares of GeneDx in a research note on Monday, June 3rd. They issued a “hold” rating and a $21.00 target price for the company. TD Cowen lifted their price objective on shares of GeneDx from $14.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Finally, The Goldman Sachs Group lifted their price objective on shares of GeneDx to $11.00 and gave the stock a “neutral” rating in a research note on Monday, April 15th.

Insider Activity

In related news, CEO Katherine Stueland sold 6,325 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $11.04, for a total transaction of $69,828.00. Following the transaction, the chief executive officer now directly owns 75,869 shares in the company, valued at $837,593.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Casdin Capital, Llc bought 7,500 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were bought at an average cost of $19.59 per share, for a total transaction of $146,925.00. Following the acquisition, the director now directly owns 2,761,009 shares of the company’s stock, valued at approximately $54,088,166.31. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Katherine Stueland sold 6,325 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $11.04, for a total transaction of $69,828.00. Following the completion of the transaction, the chief executive officer now owns 75,869 shares in the company, valued at $837,593.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 175,804 shares of company stock worth $3,771,670 and have sold 21,305 shares worth $462,821. Company insiders own 28.10% of the company’s stock.

Hedge Funds Weigh In On GeneDx

Several institutional investors and hedge funds have recently bought and sold shares of WGS. Thompson Davis & CO. Inc. raised its stake in shares of GeneDx by 20.8% in the 1st quarter. Thompson Davis & CO. Inc. now owns 24,094 shares of the company’s stock valued at $220,000 after acquiring an additional 4,150 shares during the period. PFG Investments LLC purchased a new stake in shares of GeneDx in the 1st quarter valued at approximately $95,000. Vanguard Group Inc. raised its stake in shares of GeneDx by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 707,612 shares of the company’s stock valued at $6,460,000 after acquiring an additional 28,678 shares during the period. HighTower Advisors LLC raised its stake in shares of GeneDx by 14.1% in the 3rd quarter. HighTower Advisors LLC now owns 237,948 shares of the company’s stock valued at $865,000 after acquiring an additional 29,361 shares during the period. Finally, Gagnon Advisors LLC raised its stake in shares of GeneDx by 41.6% in the 1st quarter. Gagnon Advisors LLC now owns 211,393 shares of the company’s stock valued at $1,930,000 after acquiring an additional 62,059 shares during the period. 61.72% of the stock is currently owned by institutional investors and hedge funds.

GeneDx Stock Down 3.9 %

The business’s 50 day moving average price is $21.20 and its 200-day moving average price is $11.28. The firm has a market capitalization of $684.08 million, a PE ratio of -5.06 and a beta of 2.21. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.99 and a current ratio of 3.22.

GeneDx (NASDAQ:WGS) last released its quarterly earnings results on Monday, April 29th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.35. GeneDx had a negative net margin of 60.86% and a negative return on equity of 36.23%. The business had revenue of $62.42 million for the quarter, compared to the consensus estimate of $49.80 million. As a group, equities research analysts forecast that GeneDx Holdings Corp. will post -0.92 earnings per share for the current year.

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.