GeneDx (NASDAQ:WGS) Trading 4% Higher - Should You Buy?

GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report)'s stock price rose 4% during mid-day trading on Friday . The company traded as high as $100.00 and last traded at $100.58. Approximately 208,439 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 615,348 shares. The stock had previously closed at $96.71.

Wall Street Analyst Weigh In

WGS has been the topic of a number of recent analyst reports. The Goldman Sachs Group boosted their target price 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 boosted their price objective 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. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $72.33.

GeneDx Stock Performance

The company has a fifty day moving average price of $85.25 and a two-hundred day moving average price of $72.73. The company has a market capitalization of $2.84 billion, a P/E ratio of -51.74 and a beta of 1.91. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.66. The company had revenue of $95.64 million for the quarter, compared to analyst estimates of $82.24 million. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. Equities analysts forecast that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

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Insider Activity

In other news, CEO Katherine Stueland sold 10,559 shares of GeneDx stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $96.71, for a total transaction of $1,021,160.89. Following the sale, the chief executive officer now owns 14,865 shares of the company's stock, valued at approximately $1,437,594.15. The trade was a 41.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kevin Feeley sold 3,749 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $96.71, for a total transaction of $362,565.79. Following the transaction, the chief financial officer now owns 8,492 shares in the company, valued at $821,261.32. This represents a 30.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,735 shares of company stock worth $11,719,787 in the last three months. Corporate insiders own 27.30% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in GeneDx by 18.5% in the fourth quarter. Vanguard Group Inc. now owns 1,006,210 shares of the company's stock worth $77,337,000 after purchasing an additional 156,768 shares in the last quarter. Summit Partners Public Asset Management LLC grew its position in shares of GeneDx by 336.9% in the 4th quarter. Summit Partners Public Asset Management LLC now owns 755,564 shares of the company's stock worth $58,073,000 after buying an additional 582,619 shares during the period. William Blair Investment Management LLC bought a new position in shares of GeneDx in the 4th quarter worth about $51,496,000. Lord Abbett & CO. LLC purchased a new position in GeneDx during the 4th quarter valued at about $48,458,000. Finally, Fred Alger Management LLC boosted its stake in GeneDx by 38.5% during the fourth quarter. Fred Alger Management LLC now owns 546,054 shares of the company's stock worth $41,970,000 after acquiring an additional 151,824 shares in the last quarter. Hedge funds and other institutional investors own 61.72% of the company's stock.

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.