GeneDx (NASDAQ:WGS) Hits New 1-Year High - What's Next?

GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $89.66 and last traded at $89.61, with a volume of 1259011 shares traded. The stock had previously closed at $79.14.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group lifted their price target on GeneDx from $54.00 to $70.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Wells Fargo & Company boosted their price target on GeneDx from $34.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. Craig Hallum raised their price target on GeneDx from $70.00 to $95.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Finally, TD Cowen upped their price objective on shares of GeneDx from $75.00 to $118.00 and gave the stock a "buy" rating in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $70.67.

GeneDx Stock Up 8.3 %

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 $2.67 billion, a price-to-earnings ratio of -31.20 and a beta of 2.02. The business has a fifty day moving average of $77.21 and a 200 day moving average of $52.15.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.25. The company had revenue of $76.90 million for the quarter, compared to analyst estimates of $64.98 million. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. The business's revenue was up 44.3% compared to the same quarter last year. During the same period last year, the company earned ($0.82) earnings per share. On average, equities analysts predict that GeneDx Holdings Corp. will post -0.24 earnings per share for the current year.

Insider Transactions at GeneDx

In other news, Director Jason Ryan sold 31,510 shares of the business's stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $71.28, for a total value of $2,246,032.80. Following the transaction, the director now directly owns 15,490 shares of the company's stock, valued at $1,104,127.20. The trade was a 67.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of the business's stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $75.00, for a total value of $64,935,000.00. Following the completion of the transaction, the insider now directly owns 2,866,833 shares in the company, valued at approximately $215,012,475. This represents a 23.20 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,143,039 shares of company stock worth $84,816,828. 27.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WGS. Driehaus Capital Management LLC acquired a new position in shares of GeneDx in the 2nd quarter valued at $11,335,000. Fred Alger Management LLC bought a new stake in GeneDx in the third quarter valued at about $16,731,000. Geode Capital Management LLC lifted its stake in GeneDx by 8.7% in the third quarter. Geode Capital Management LLC now owns 377,631 shares of the company's stock valued at $16,030,000 after buying an additional 30,379 shares during the period. State Street Corp grew its position in shares of GeneDx by 18.3% during the 3rd quarter. State Street Corp now owns 314,914 shares of the company's stock worth $13,365,000 after buying an additional 48,735 shares during the period. Finally, Millennium Management LLC increased its stake in shares of GeneDx by 193.5% in the 2nd quarter. Millennium Management LLC now owns 311,401 shares of the company's stock valued at $8,140,000 after acquiring an additional 205,318 shares during the last quarter. Institutional investors and hedge funds 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.