GeneDx (NASDAQ:WGS) Trading 7.6% Higher

GeneDx Holdings Corp. (NASDAQ:WGS) traded up 7.6% during trading on Wednesday . The stock traded as high as $40.74 and last traded at $39.98. 237,795 shares changed hands during mid-day trading, a decline of 40% from the average session volume of 395,556 shares. The stock had previously closed at $37.14.

Analyst Ratings Changes

A number of analysts have recently issued reports on WGS shares. The Goldman Sachs Group lifted their price target on GeneDx from $28.00 to $32.00 and gave the company a “neutral” 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 company a “buy” rating in a research report on Wednesday, July 31st. Jefferies Financial Group started coverage on GeneDx in a research report on Monday, June 3rd. They set a “hold” rating and a $21.00 price target for the company. Wells Fargo & Company started coverage on GeneDx in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $34.00 price target for the company. Finally, Craig Hallum lifted their price target on GeneDx from $43.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

GeneDx Trading Up 4.4 %

The company has a 50-day moving average of $33.21 and a 200 day moving average of $23.15. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.38 and a quick ratio of 2.22. The company has a market cap of $1.01 billion, a PE ratio of -7.48 and a beta of 2.29.

GeneDx (NASDAQ:WGS) last released its earnings results on Tuesday, July 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.15. GeneDx had a negative net margin of 48.21% and a negative return on equity of 22.71%. The firm had revenue of $70.51 million during the quarter, compared to analyst estimates of $58.90 million. Analysts predict that GeneDx Holdings Corp. will post -0.75 earnings per share for the current year.

Insider Buying and Selling at GeneDx

In other GeneDx news, major shareholder Opko Health, Inc. sold 100,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $31.82, for a total transaction of $3,182,000.00. Following the transaction, the insider now directly owns 2,871,570 shares in the company, valued at approximately $91,373,357.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Katherine Stueland sold 2,154 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 92,550 shares of the company’s stock, valued at approximately $3,104,127. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Opko Health, Inc. sold 100,000 shares of GeneDx stock in a transaction dated 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 completion of the transaction, the insider now owns 2,871,570 shares in the company, valued at approximately $91,373,357.40. The disclosure for this sale can be found here. Insiders sold a total of 743,868 shares of company stock valued at $24,114,996 in the last three months. Company insiders own 28.10% of the company’s stock.

Institutional Investors Weigh In On GeneDx

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new stake in GeneDx during the 2nd quarter worth about $34,000. nVerses Capital LLC acquired a new position in shares of GeneDx in the second quarter worth about $50,000. Thompson Davis & CO. Inc. boosted its stake in shares of GeneDx by 20.8% during the 1st quarter. Thompson Davis & CO. Inc. now owns 24,094 shares of the company’s stock worth $220,000 after acquiring an additional 4,150 shares in the last quarter. American Century Companies Inc. grew its position in shares of GeneDx by 36.1% during the 2nd quarter. American Century Companies Inc. now owns 17,258 shares of the company’s stock valued at $451,000 after acquiring an additional 4,573 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of GeneDx in the second quarter valued at approximately $290,000. 61.72% of the stock is currently owned by hedge funds and other 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.