GeneDx (NASDAQ:WGS) Sets New 1-Year High on Better-Than-Expected Earnings

GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $105.82 and last traded at $96.35, with a volume of 1152812 shares changing hands. The stock had previously closed at $76.35.

The company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.04 by $0.66. The business had revenue of $95.64 million during the quarter, compared to analyst estimates of $82.24 million. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%.

Analyst Upgrades and Downgrades

WGS has been the topic of several analyst reports. Craig Hallum upped their price target on GeneDx from $70.00 to $95.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Wells Fargo & Company boosted their price objective on shares of GeneDx from $34.00 to $75.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. TD Cowen increased their target price on shares of GeneDx from $75.00 to $118.00 and gave the stock a "buy" rating in a research note on Tuesday, January 7th. Finally, The Goldman Sachs Group boosted their price target on shares of GeneDx from $70.00 to $80.00 and gave the company a "neutral" rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, GeneDx currently has a consensus rating of "Moderate Buy" and a consensus target price of $72.33.

Insider Buying and Selling at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 3,661 shares of GeneDx stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $76.37, for a total transaction of $279,590.57. Following the completion of the sale, the chief executive officer now owns 62,897 shares of the company's stock, valued at $4,803,443.89. The trade was a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kevin Feeley sold 1,137 shares of the company's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $76.37, for a total value of $86,832.69. Following the completion of the transaction, the chief financial officer now owns 24,731 shares of the company's stock, valued at $1,888,706.47. The trade was a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 127,584 shares of company stock worth $11,336,520 over the last three months. 27.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in WGS. MCF Advisors LLC increased its holdings in shares of GeneDx by 107.7% in the fourth quarter. MCF Advisors LLC now owns 351 shares of the company's stock worth $27,000 after buying an additional 182 shares during the period. Sterling Capital Management LLC grew its position in GeneDx by 877.8% during the 4th quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock worth $27,000 after acquiring an additional 316 shares during the last quarter. Global Retirement Partners LLC bought a new position in GeneDx during the 4th quarter worth approximately $28,000. Lazard Asset Management LLC purchased a new position in GeneDx in the 4th quarter worth approximately $35,000. Finally, Comerica Bank bought a new stake in GeneDx in the fourth quarter valued at approximately $50,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

GeneDx Stock Performance

The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. The stock has a market cap of $2.63 billion, a PE ratio of -48.89 and a beta of 2.01. The business has a 50 day moving average price of $79.05 and a two-hundred day moving average price of $62.88.

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.