GeneDx (NASDAQ:WGS) Shares Up 4.8% - What's Next?

GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report)'s stock price was up 4.8% on Friday . The company traded as high as $75.37 and last traded at $75.18. Approximately 134,654 shares were traded during trading, a decline of 70% from the average daily volume of 453,367 shares. The stock had previously closed at $71.77.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of GeneDx from $34.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. The Goldman Sachs Group boosted their price objective on shares of GeneDx from $54.00 to $70.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Finally, Craig Hallum increased their target price on shares of GeneDx from $70.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. 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.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $59.33.

GeneDx Price Performance

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 business has a 50 day moving average of $70.21 and a 200 day moving average of $45.53. The company has a market cap of $2.07 billion, a PE ratio of -24.25 and a beta of 2.03.

GeneDx (NASDAQ:WGS - Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of ($0.21) by $0.25. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The firm had revenue of $76.90 million for the quarter, compared to analyst estimates of $64.98 million. During the same quarter in the previous year, the firm posted ($0.82) EPS. The company's revenue for the quarter was up 44.3% compared to the same quarter last year. As a group, research analysts predict that GeneDx Holdings Corp. will post -0.24 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of GeneDx stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $75.00, for a total transaction of $64,935,000.00. Following the completion of the transaction, the insider now directly owns 2,866,833 shares of the company's stock, valued at $215,012,475. This trade represents a 23.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Katherine Stueland sold 3,661 shares of the company's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $76.37, for a total transaction of $279,590.57. Following the completion of the sale, the chief executive officer now owns 62,897 shares in the company, valued at approximately $4,803,443.89. This trade represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,109,374 shares of company stock worth $82,208,306. Company insiders own 27.30% of the company's stock.

Institutional Trading of GeneDx

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in GeneDx by 4.2% during the first quarter. Vanguard Group Inc. now owns 707,612 shares of the company's stock valued at $6,460,000 after buying an additional 28,678 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in shares of GeneDx in the 2nd quarter worth about $11,335,000. Fred Alger Management LLC purchased a new position in shares of GeneDx in the 3rd quarter worth about $16,731,000. Geode Capital Management LLC boosted its stake in GeneDx by 8.7% in the 3rd quarter. Geode Capital Management LLC now owns 377,631 shares of the company's stock worth $16,030,000 after purchasing an additional 30,379 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in GeneDx during the 2nd quarter valued at about $9,575,000. 61.72% of the stock is owned by institutional investors.

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.