GeneDx (NASDAQ:WGS) Sets New 52-Week High - Still a Buy?

GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $70.51 and last traded at $69.99, with a volume of 106099 shares. The stock had previously closed at $56.06.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WGS. Craig Hallum upped their price target on shares of GeneDx from $46.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. TD Cowen increased their price objective on GeneDx from $46.00 to $50.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. The Goldman Sachs Group increased their price objective on GeneDx from $32.00 to $54.00 and gave the company a "neutral" rating in a report on Wednesday, October 16th. BTIG Research increased their price target on GeneDx from $35.00 to $45.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company started coverage on GeneDx in a report on Tuesday, August 27th. They set an "equal weight" rating and a $34.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $45.67.

GeneDx Stock Performance

The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of -16.16 and a beta of 2.32. The stock has a fifty day simple moving average of $43.68 and a two-hundred day simple moving average of $31.53. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.22 and a current ratio of 2.38.

GeneDx (NASDAQ:WGS - Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The company reported ($0.11) EPS for the quarter, beating analysts' consensus estimates of ($0.26) by $0.15. GeneDx had a negative return on equity of 22.71% and a negative net margin of 48.21%. The firm had revenue of $70.51 million during the quarter, compared to analysts' expectations of $58.90 million. Analysts forecast that GeneDx Holdings Corp. will post -0.75 earnings per share for the current fiscal year.

Insider Activity at GeneDx

In other news, major shareholder Opko Health, Inc. sold 12,994 shares of the business's stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $29.35, for a total transaction of $381,373.90. Following the completion of the sale, the insider now directly owns 2,971,570 shares of the company's stock, valued at $87,215,579.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other GeneDx news, CEO Katherine Stueland sold 3,639 shares of the company's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $33.33, for a total value of $121,287.87. Following the completion of the sale, the chief executive officer now directly owns 95,457 shares of the company's stock, valued at approximately $3,181,581.81. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Opko Health, Inc. sold 12,994 shares of the company's stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $29.35, for a total value of $381,373.90. Following the completion of the transaction, the insider now directly owns 2,971,570 shares of the company's stock, valued at approximately $87,215,579.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 356,240 shares of company stock valued at $11,770,553. 28.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On GeneDx

Institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC purchased a new position in GeneDx in the second quarter valued at approximately $34,000. nVerses Capital LLC purchased a new position in GeneDx in the second quarter valued at approximately $50,000. CWM LLC purchased a new position in GeneDx in the third quarter valued at approximately $89,000. SG Americas Securities LLC purchased a new position in GeneDx in the third quarter valued at approximately $198,000. Finally, Palumbo Wealth Management LLC purchased a new position in GeneDx in the third quarter valued at approximately $287,000. 61.72% of the stock is owned by institutional investors.

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.