GeneDx (NASDAQ:WGS) Shares Up 7.1% - What's Next?

GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) traded up 7.1% on Tuesday . The company traded as high as $97.14 and last traded at $97.51. 35,045 shares changed hands during trading, a decline of 95% from the average session volume of 683,082 shares. The stock had previously closed at $91.04.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. The Goldman Sachs Group raised their price objective on shares of GeneDx from $70.00 to $80.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. TD Cowen upped their price objective on GeneDx from $75.00 to $118.00 and gave the company a "buy" rating in a research note on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $72.33.

GeneDx Price Performance

The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of -56.26 and a beta of 1.93. 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 company has a 50-day simple moving average of $95.81 and a two-hundred day simple moving average of $81.24.

GeneDx (NASDAQ:WGS - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $82.24 million. On average, equities research analysts predict that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Insider Activity at GeneDx

In other news, CFO Kevin Feeley sold 402 shares of the company's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $90.05, for a total value of $36,200.10. Following the completion of the sale, the chief financial officer now owns 5,044 shares in the company, valued at $454,212.20. This represents a 7.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Katherine Stueland sold 46,594 shares of GeneDx stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $89.62, for a total value of $4,175,754.28. Following the transaction, the chief executive officer now directly owns 1,720 shares in the company, valued at approximately $154,146.40. The trade was a 96.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 138,780 shares of company stock worth $12,907,437 over the last ninety days. 27.30% of the stock is currently owned by corporate insiders.

Institutional Trading of GeneDx

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. 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 valued at $27,000 after buying an additional 182 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in shares of GeneDx by 877.8% during the fourth quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock valued at $27,000 after purchasing an additional 316 shares during the last quarter. Global Retirement Partners LLC acquired a new position in shares of GeneDx in the 4th quarter valued at $28,000. Lazard Asset Management LLC purchased a new position in GeneDx in the 4th quarter worth about $35,000. Finally, GAMMA Investing LLC raised its holdings in GeneDx by 151.7% during the 1st quarter. GAMMA Investing LLC now owns 438 shares of the company's stock worth $39,000 after buying an additional 264 shares during the period. 61.72% of the stock is owned by institutional investors and hedge funds.

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.