GeneDx (NASDAQ:WGS) Stock Price Up 4.8% - Time to Buy?

GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) shares traded up 4.8% on Wednesday . The stock traded as high as $85.62 and last traded at $88.62. 58,096 shares changed hands during trading, a decline of 91% from the average session volume of 644,070 shares. The stock had previously closed at $84.59.

Analysts Set New Price Targets

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

GeneDx Stock Up 5.3 %

The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25. The company has a fifty day simple moving average of $88.11 and a 200 day simple moving average of $76.09. The firm has a market capitalization of $2.37 billion, a P/E ratio of -42.88 and a beta of 1.93.

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

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Insider Activity at GeneDx

In other news, CFO Kevin Feeley sold 3,749 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $96.71, for a total value of $362,565.79. Following the sale, the chief financial officer now owns 8,492 shares of the company's stock, valued at approximately $821,261.32. This represents a 30.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Katherine Stueland sold 51,420 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $94.48, for a total value of $4,858,161.60. Following the completion of the sale, the chief executive officer now owns 1,720 shares in the company, valued at approximately $162,505.60. The trade was a 96.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 163,596 shares of company stock worth $15,490,752. 27.30% of the stock is owned by insiders.

Hedge Funds Weigh In On GeneDx

A number of large investors have recently bought and sold shares of the business. MCF Advisors LLC boosted its holdings in 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 purchasing an additional 182 shares during the last quarter. Sterling Capital Management LLC lifted its stake in GeneDx by 877.8% in the fourth 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 purchased a new position in shares of GeneDx during the fourth quarter worth about $28,000. Lazard Asset Management LLC purchased a new stake in shares of GeneDx during the fourth quarter worth approximately $35,000. Finally, Comerica Bank purchased a new stake in shares of GeneDx during the 4th quarter worth $50,000. 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.