GeneDx (NASDAQ:WGS) Hits New 12-Month High at $40.80

GeneDx Holdings Corp. (NASDAQ:WGS)’s stock price reached a new 52-week high on Thursday . The company traded as high as $40.80 and last traded at $40.23, with a volume of 114970 shares changing hands. The stock had previously closed at $38.77.

Wall Street Analyst Weigh In

Several brokerages have recently commented on WGS. The Goldman Sachs Group raised their price objective on shares of GeneDx from $28.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. TD Cowen raised their price objective on shares of GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company assumed coverage on shares of GeneDx in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $34.00 price objective for the company. Craig Hallum lifted their price target on shares of GeneDx from $43.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, BTIG Research lifted their price target on shares of GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

GeneDx Stock Down 0.6 %

The company has a market capitalization of $1.06 billion, a P/E ratio of -7.80 and a beta of 2.29. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.22 and a current ratio of 2.38. The stock has a 50 day moving average price of $33.49 and a 200 day moving average price of $23.38.

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

Insider Activity at GeneDx

In related news, CFO Kevin Feeley sold 895 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $33.33, for a total value of $29,830.35. Following the sale, the chief financial officer now directly owns 39,910 shares in the company, valued at approximately $1,330,200.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other GeneDx news, CEO Katherine Stueland sold 3,639 shares of GeneDx stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $33.33, for a total transaction of $121,287.87. Following the completion of the transaction, the chief executive officer now owns 95,457 shares of the company’s stock, valued at approximately $3,181,581.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevin Feeley sold 895 shares of GeneDx stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $33.33, for a total value of $29,830.35. Following the transaction, the chief financial officer now directly owns 39,910 shares of the company’s stock, valued at approximately $1,330,200.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 743,868 shares of company stock worth $24,114,996. Company insiders own 28.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC bought a new stake in GeneDx in the 2nd quarter worth approximately $34,000. nVerses Capital LLC bought a new stake in GeneDx in the 2nd quarter worth approximately $50,000. The Manufacturers Life Insurance Company bought a new stake in GeneDx in the 2nd quarter worth approximately $290,000. Algert Global LLC bought a new stake in GeneDx in the 2nd quarter worth approximately $356,000. Finally, Alpha DNA Investment Management LLC bought a new stake in GeneDx in the 2nd quarter worth approximately $363,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

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.