GeneDx (NASDAQ:WGS) Shares Up 7.3% - Should You Buy?

Shares of GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) were up 7.3% during trading on Monday . The stock traded as high as $86.36 and last traded at $84.89. Approximately 292,402 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 451,198 shares. The stock had previously closed at $79.14.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of GeneDx from $34.00 to $75.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. Craig Hallum lifted their target price on shares of GeneDx from $70.00 to $95.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group upped their target price on GeneDx from $54.00 to $70.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $59.33.

GeneDx Trading Up 13.2 %

The stock's 50 day simple moving average is $76.95 and its two-hundred day simple moving average is $51.66. 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 capitalization of $2.46 billion, a PE ratio of -28.81 and a beta of 2.02.

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

Insider Activity at GeneDx

In other news, CFO Kevin Feeley sold 1,137 shares of GeneDx stock in a transaction on 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 directly owns 24,731 shares in the company, valued at approximately $1,888,706.47. The trade was a 4.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Katherine Stueland sold 18,006 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $78.18, for a total value of $1,407,709.08. Following the sale, the chief executive officer now directly owns 53,140 shares in the company, valued at $4,154,485.20. This trade represents a 25.31 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,143,039 shares of company stock worth $84,816,828. Company insiders own 27.30% of the company's stock.

Hedge Funds Weigh In On GeneDx

Several hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in GeneDx by 617.3% during the third quarter. JPMorgan Chase & Co. now owns 52,161 shares of the company's stock worth $2,214,000 after buying an additional 44,889 shares in the last quarter. Principal Financial Group Inc. bought a new stake in shares of GeneDx during the 3rd quarter valued at about $604,000. Franklin Resources Inc. purchased a new position in shares of GeneDx during the third quarter worth about $301,000. Tidal Investments LLC bought a new position in shares of GeneDx in the third quarter worth approximately $514,000. Finally, Barclays PLC raised its stake in GeneDx by 346.3% in the third quarter. Barclays PLC now owns 18,921 shares of the company's stock valued at $803,000 after purchasing an additional 14,681 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.