GeneDx (NASDAQ:WGS) Trading Up 7.9% – Time to Buy?

GeneDx Holdings Corp. (NASDAQ:WGS) shares were up 7.9% during mid-day trading on Thursday . The company traded as high as $112.91 and last traded at $112.8050. Approximately 765,580 shares traded hands during mid-day trading, an increase of 16% from the average daily volume of 661,806 shares. The stock had previously closed at $104.56.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on WGS shares. Weiss Ratings reiterated a “sell (d)” rating on shares of GeneDx in a research report on Wednesday, October 8th. BTIG Research upped their price target on shares of GeneDx from $165.00 to $200.00 and gave the company a “buy” rating in a report on Friday, December 12th. Zacks Research downgraded shares of GeneDx from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 2nd. Canaccord Genuity Group boosted their target price on GeneDx from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, December 22nd. Finally, Wells Fargo & Company set a $155.00 target price on GeneDx and gave the company an “equal weight” rating in a research note on Monday, December 15th. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $138.13.

GeneDx Stock Performance

The firm has a 50 day moving average of $141.86 and a 200-day moving average of $123.40. The company has a market cap of $3.16 billion, a P/E ratio of 1,214.22 and a beta of 2.01. The company has a quick ratio of 2.59, a current ratio of 2.71 and a debt-to-equity ratio of 0.18.

GeneDx (NASDAQ:WGS) last issued its earnings results on Tuesday, October 28th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.21. GeneDx had a return on equity of 20.22% and a net margin of 0.52%.The business had revenue of $116.74 million during the quarter, compared to analysts’ expectations of $104.33 million. As a group, sell-side analysts anticipate that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Insider Transactions at GeneDx

In other news, Director Joshua Ruch sold 38,000 shares of the stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $160.37, for a total transaction of $6,094,060.00. Following the transaction, the director directly owned 11,941 shares in the company, valued at approximately $1,914,978.17. This trade represents a 76.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Katherine Stueland sold 10,857 shares of GeneDx stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $143.89, for a total transaction of $1,562,213.73. Following the transaction, the chief executive officer directly owned 14,237 shares in the company, valued at approximately $2,048,561.93. The trade was a 43.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 60,163 shares of company stock valued at $9,339,792. Company insiders own 29.60% of the company’s stock.

Institutional Investors Weigh In On GeneDx

Institutional investors have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp increased its stake in GeneDx by 664.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock valued at $25,000 after purchasing an additional 186 shares in the last quarter. Quarry LP grew its holdings in shares of GeneDx by 248.8% during the third quarter. Quarry LP now owns 293 shares of the company’s stock valued at $32,000 after buying an additional 209 shares during the last quarter. Gordian Capital Singapore Pte Ltd acquired a new position in shares of GeneDx in the 3rd quarter valued at $65,000. AlphaQuest LLC raised its stake in GeneDx by 351.5% in the 2nd quarter. AlphaQuest LLC now owns 763 shares of the company’s stock worth $70,000 after acquiring an additional 594 shares during the last quarter. Finally, Spire Wealth Management purchased a new position in GeneDx in the 4th quarter worth $221,000. Institutional investors own 61.72% of the company’s stock.

GeneDx Company Profile

GeneDx is a clinical diagnostics company specializing in comprehensive genetic and genomic testing for rare and inherited disorders. The company offers a broad portfolio of assays, including targeted gene panels, whole exome sequencing, whole genome sequencing and chromosomal microarray analysis. GeneDx’s laboratory services support the diagnosis of a wide range of conditions—from rare pediatric diseases and hereditary cancer syndromes to neuromuscular and metabolic disorders—by providing clinicians with detailed variant interpretation and reporting.

Founded in 2000 and based in Gaithersburg, Maryland, GeneDx was established with the aim of accelerating the translation of genomic discoveries into clinical care.