GeneDx (NASDAQ:WGS) Shares Up 8% - Should You Buy?

GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report)'s stock price rose 8% during mid-day trading on Monday . The stock traded as high as $64.08 and last traded at $64.28. Approximately 346,260 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 1,026,019 shares. The stock had previously closed at $59.54.

Analyst Upgrades and Downgrades

WGS has been the topic of several research reports. The Goldman Sachs Group raised their target price on GeneDx from $54.00 to $70.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. TD Cowen raised their target price on GeneDx from $75.00 to $118.00 and gave the stock a "buy" rating in a research report on Tuesday, January 7th. Wells Fargo & Company raised their target price on GeneDx from $34.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. Finally, Craig Hallum lifted their price objective on GeneDx from $70.00 to $95.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, GeneDx currently has an average rating of "Moderate Buy" and an average price target of $70.67.

GeneDx Price Performance

The firm has a 50 day moving average of $76.41 and a 200-day moving average of $60.49. The company has a market cap of $2.10 billion, a P/E ratio of -24.55 and a beta of 2.01. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25.

Insiders Place Their Bets

In other news, CEO Katherine Stueland sold 1,657 shares of the business's stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $78.48, for a total transaction of $130,041.36. Following the transaction, the chief executive officer now owns 3,937 shares of the company's stock, valued at approximately $308,975.76. The trade was a 29.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder School Of Medicine At Mo Icahn sold 126,782 shares of the business's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $70.78, for a total value of $8,973,629.96. Following the transaction, the insider now owns 2,719,692 shares of the company's stock, valued at approximately $192,499,799.76. The trade was a 4.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 320,202 shares of company stock valued at $25,011,778 in the last quarter. 27.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On GeneDx

Large investors have recently bought and sold shares of the business. MCF Advisors LLC lifted its holdings in shares of GeneDx by 107.7% in the 4th quarter. MCF Advisors LLC now owns 351 shares of the company's stock worth $27,000 after buying an additional 182 shares during the period. Sterling Capital Management LLC increased its position in GeneDx by 877.8% during the 4th quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock valued at $27,000 after buying an additional 316 shares in the last quarter. Global Retirement Partners LLC acquired a new position in GeneDx during the 4th quarter valued at about $28,000. MetLife Investment Management LLC increased its position in GeneDx by 6.2% during the 4th quarter. MetLife Investment Management LLC now owns 7,750 shares of the company's stock valued at $596,000 after buying an additional 453 shares in the last quarter. Finally, Comerica Bank acquired a new position in shares of GeneDx in the fourth quarter valued at about $50,000. Hedge funds and other institutional investors 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.