GeneDx (NASDAQ:WGS) Announces Quarterly Earnings Results, Beats Estimates By $0.21 EPS

GeneDx (NASDAQ:WGS) posted its earnings results on Monday. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.21, FiscalAI reports. The firm had revenue of $123.10 million for the quarter, compared to analyst estimates of $122.93 million. GeneDx had a positive return on equity of 4.12% and a negative net margin of 23.41%.

GeneDx Stock Up 5.4%

NASDAQ WGS traded up $3.35 on Monday, hitting $65.72. 1,839,497 shares of the stock were exchanged, compared to its average volume of 927,121. The company has a quick ratio of 3.06, a current ratio of 3.30 and a debt-to-equity ratio of 0.40. GeneDx has a fifty-two week low of $32.21 and a fifty-two week high of $170.87. The company has a market cap of $1.96 billion, a PE ratio of -18.05 and a beta of 2.00. The company has a 50-day moving average price of $76.83 and a 200-day moving average price of $71.32.

Insiders Place Their Bets

In other news, CEO Katherine Stueland sold 10,501 shares of the company’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $97.61, for a total transaction of $1,025,002.61. Following the completion of the transaction, the chief executive officer directly owned 115,476 shares of the company’s stock, valued at approximately $11,271,612.36. This represents a 8.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevin Feeley sold 3,728 shares of the stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $97.61, for a total value of $363,890.08. Following the completion of the transaction, the chief financial officer owned 44,945 shares in the company, valued at approximately $4,387,081.45. The trade was a 7.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 19,206 shares of company stock worth $1,808,056 over the last 90 days. Company insiders own 25.17% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WGS. Zacks Research cut shares of GeneDx from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of GeneDx in a research note on Monday, November 2nd. TD Cowen reaffirmed a “buy” rating on shares of GeneDx in a research note on Wednesday, July 15th. Guggenheim increased their target price on shares of GeneDx from $74.00 to $83.00 and gave the stock a “buy” rating in a report on Thursday, October 1st. Finally, Canaccord Genuity Group raised their price target on shares of GeneDx from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $90.86.

GeneDx Company Profile

GeneDx is a genomic testing company focused on helping clinicians diagnose rare and inherited conditions. Its services include whole exome and whole genome sequencing, along with other genetic tests and clinical interpretation of results.

The company’s testing is used by healthcare providers to support diagnosis and care decisions, particularly for patients with suspected rare genetic disorders. GeneDx also offers testing related to hereditary cancer risk.

Founded in 2000 by researchers with experience at the National Institutes of Health, GeneDx has developed its business around applying genomic information in clinical care.