GeneDx Holdings Corp. (NASDAQ:WGS) Short Interest Update

GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) was the recipient of a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 2,750,000 shares, an increase of 28.5% from the January 31st total of 2,140,000 shares. Based on an average trading volume of 925,000 shares, the days-to-cover ratio is currently 3.0 days. Approximately 11.4% of the company's stock are sold short.

Analysts Set New Price Targets

WGS has been the topic of several recent research reports. TD Cowen increased their target price on shares of GeneDx from $75.00 to $118.00 and gave the company a "buy" rating in a report on Tuesday, January 7th. The Goldman Sachs Group upped their price objective 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. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $72.33.

Insiders Place Their Bets

In other GeneDx news, CFO Kevin Feeley sold 3,728 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $76.75, for a total transaction of $286,124.00. Following the transaction, the chief financial officer now directly owns 28,200 shares in the company, valued at approximately $2,164,350. This represents a 11.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Katherine Stueland sold 1,657 shares of the firm's stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $78.48, for a total transaction of $130,041.36. Following the completion of the transaction, the chief executive officer now directly owns 3,937 shares in the company, valued at approximately $308,975.76. The trade was a 29.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,321 shares of company stock valued at $11,315,903 in the last quarter. 27.30% of the stock is currently owned by insiders.

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Institutional Trading of GeneDx

A number of large investors have recently added to or reduced their stakes in the business. Barclays PLC raised its holdings in shares of GeneDx by 346.3% during the third quarter. Barclays PLC now owns 18,921 shares of the company's stock valued at $803,000 after acquiring an additional 14,681 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of GeneDx in the third quarter worth $325,000. Charles Schwab Investment Management Inc. grew its holdings in shares of GeneDx by 304.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 147,034 shares of the company's stock valued at $6,240,000 after buying an additional 110,666 shares in the last quarter. Chartwell Investment Partners LLC acquired a new position in GeneDx during the third quarter valued at $1,722,000. Finally, Lisanti Capital Growth LLC purchased a new stake in GeneDx in the 3rd quarter worth about $1,554,000. 61.72% of the stock is currently owned by institutional investors.

GeneDx Stock Performance

Shares of WGS traded down $2.94 during mid-day trading on Friday, hitting $94.33. 403,281 shares of the company's stock were exchanged, compared to its average volume of 1,177,011. GeneDx has a fifty-two week low of $7.72 and a fifty-two week high of $115.60. The firm has a market capitalization of $2.65 billion, a P/E ratio of -48.13 and a beta of 1.91. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. The business's 50 day moving average is $82.84 and its two-hundred day moving average is $67.03.

GeneDx (NASDAQ:WGS - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.04 by $0.66. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. The firm had revenue of $95.64 million for the quarter, compared to analysts' expectations of $82.24 million. On average, equities analysts expect that GeneDx will post 0.97 earnings per share for the current year.

About GeneDx

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.