GeneDx Holdings Corp. (NASDAQ:WGS) Sees Significant Increase in Short Interest

GeneDx Holdings Corp. (NASDAQ:WGS) saw a significant growth in short interest in February. As of February 15th, there was short interest totalling 2,750,000 shares, a growth of 28.5% from the January 31st total of 2,140,000 shares. Based on an average daily volume of 925,000 shares, the days-to-cover ratio is currently 3.0 days. Currently, 11.4% of the shares of the stock are sold short.

GeneDx Stock Performance

WGS stock opened at $94.35 on Tuesday. The stock has a market capitalization of $2.65 billion, a PE ratio of -48.14 and a beta of 2.01. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. GeneDx has a 12-month low of $7.72 and a 12-month high of $115.60. The stock’s 50 day simple moving average is $81.50 and its 200 day simple moving average is $66.09.

GeneDx (NASDAQ:WGS) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.66. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. The firm had revenue of $95.64 million for the quarter, compared to the consensus estimate of $82.24 million. As a group, research analysts forecast that GeneDx will post 0.97 earnings per share for the current fiscal year.

Insider Transactions at GeneDx

In other news, CFO Kevin Feeley sold 35,506 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $93.82, for a total value of $3,331,172.92. Following the completion of the sale, the chief financial officer now owns 2,472 shares of the company’s stock, valued at approximately $231,923.04. The trade was a 93.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Katherine Stueland sold 3,661 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $76.37, for a total value of $279,590.57. Following the transaction, the chief executive officer now owns 62,897 shares in the company, valued at approximately $4,803,443.89. The trade was a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,321 shares of company stock valued at $11,315,903 in the last quarter. Insiders own 27.30% of the company’s stock.

Institutional Investors Weigh In On GeneDx

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. bought a new stake in GeneDx during the 3rd quarter worth approximately $604,000. Chartwell Investment Partners LLC bought a new stake in shares of GeneDx during the 3rd quarter valued at $1,722,000. Lisanti Capital Growth LLC purchased a new position in shares of GeneDx during the 3rd quarter valued at $1,554,000. GSA Capital Partners LLP bought a new position in GeneDx in the 3rd quarter worth $322,000. Finally, Royce & Associates LP purchased a new stake in GeneDx in the 3rd quarter worth $1,201,000. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WGS has been the subject of several research analyst reports. The Goldman Sachs Group lifted their target price on shares of GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. TD Cowen lifted their price target on GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $72.33.

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.