GeneDx (NASDAQ:WGS) Posts Earnings Results, Beats Estimates By $0.25 EPS

GeneDx (NASDAQ:WGS - Get Free Report) issued its quarterly earnings results on Tuesday. The company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of ($0.21) by $0.25, Zacks reports. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. The company had revenue of $76.90 million during the quarter, compared to the consensus estimate of $64.98 million. During the same period last year, the business posted ($0.82) earnings per share. GeneDx's revenue was up 44.3% on a year-over-year basis. GeneDx updated its FY 2024 guidance to EPS.

GeneDx Price Performance

NASDAQ WGS traded down $3.95 during trading hours on Friday, reaching $77.74. 898,429 shares of the stock traded hands, compared to its average volume of 440,322. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.22. The stock has a 50 day simple moving average of $47.44 and a two-hundred day simple moving average of $33.23. GeneDx has a 1 year low of $1.16 and a 1 year high of $89.11. The company has a market cap of $2.09 billion, a price-to-earnings ratio of -25.00 and a beta of 2.32.

Insider Activity at GeneDx

In other news, CEO Katherine Stueland sold 3,639 shares of the business's stock in a transaction that occurred on 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 in the company, valued at approximately $3,181,581.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Opko Health, Inc. sold 100,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $31.82, for a total transaction of $3,182,000.00. Following the completion of the sale, the insider now owns 2,871,570 shares of the company's stock, valued at approximately $91,373,357.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Katherine Stueland sold 3,639 shares of GeneDx stock in a transaction on Monday, September 9th. The stock was sold at an average price of $33.33, for a total transaction of $121,287.87. Following the completion of the transaction, the chief executive officer now directly owns 95,457 shares in the company, valued at approximately $3,181,581.81. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 269,829 shares of company stock valued at $8,956,152. Corporate insiders own 27.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. BTIG Research raised their price target on shares of GeneDx from $35.00 to $45.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. 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. TD Cowen upped their price target on GeneDx from $46.00 to $50.00 and gave the company a "buy" rating in a research report on Wednesday, July 31st. Craig Hallum lifted their price objective on GeneDx from $70.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, The Goldman Sachs Group upped their price objective on shares of GeneDx from $54.00 to $70.00 and gave the company a "neutral" rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.33.

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.