GeneDx (NASDAQ:WGS) Trading 5.1% Higher – Time to Buy?

GeneDx Holdings Corp. (NASDAQ:WGS)’s stock price shot up 5.1% on Tuesday . The company traded as high as $57.76 and last traded at $58.2640. 56,346 shares traded hands during trading, a decline of 95% from the average session volume of 1,036,675 shares. The stock had previously closed at $55.42.

Wall Street Analysts Forecast Growth

WGS has been the subject of several research reports. Wells Fargo & Company reaffirmed an “overweight” rating and set a $75.00 price target (down from $155.00) on shares of GeneDx in a research note on Tuesday, May 5th. Weiss Ratings lowered shares of GeneDx from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. Guggenheim reduced their target price on shares of GeneDx from $100.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. Piper Sandler reaffirmed an “overweight” rating and issued a $63.00 target price on shares of GeneDx in a research report on Tuesday. Finally, Craig Hallum reiterated a “buy” rating and issued a $85.00 price target on shares of GeneDx in a research note on Tuesday, May 5th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, GeneDx currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.86.

GeneDx Trading Up 7.9%

The company has a market cap of $1.77 billion, a price-to-earnings ratio of -22.23 and a beta of 1.96. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.95 and a current ratio of 3.09. The firm has a fifty day moving average price of $54.16 and a 200 day moving average price of $85.20.

GeneDx (NASDAQ:WGS) last issued its earnings results on Monday, May 4th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.22). The firm had revenue of $102.25 million for the quarter, compared to analyst estimates of $112.46 million. GeneDx had a positive return on equity of 9.15% and a negative net margin of 17.58%.During the same quarter in the previous year, the firm posted ($0.23) earnings per share. As a group, equities analysts predict that GeneDx Holdings Corp. will post -1 EPS for the current fiscal year.

Insider Transactions at GeneDx

In other news, Director Keith A. Meister acquired 533,758 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was bought at an average price of $37.86 per share, with a total value of $20,208,077.88. Following the transaction, the director directly owned 3,761,908 shares in the company, valued at approximately $142,425,836.88. The trade was a 16.53% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Casdin Capital, Llc acquired 185,000 shares of the stock in a transaction dated Tuesday, May 19th. The shares were purchased at an average price of $42.60 per share, for a total transaction of $7,881,000.00. Following the completion of the purchase, the director directly owned 3,367,164 shares in the company, valued at $143,441,186.40. The trade was a 5.81% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders bought 2,256,420 shares of company stock valued at $93,144,340 and sold 68,632 shares valued at $4,260,404. Company insiders own 25.17% of the company’s stock.

Hedge Funds Weigh In On GeneDx

A number of institutional investors have recently bought and sold shares of the business. ARK Investment Management LLC acquired a new stake in GeneDx during the third quarter worth approximately $48,157,000. Sumitomo Mitsui Trust Group Inc. grew its position in shares of GeneDx by 30.6% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 381,725 shares of the company’s stock valued at $49,647,000 after purchasing an additional 89,470 shares during the last quarter. SG Americas Securities LLC grew its position in shares of GeneDx by 937.3% in the fourth quarter. SG Americas Securities LLC now owns 63,181 shares of the company’s stock valued at $8,217,000 after purchasing an additional 57,090 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of GeneDx by 1,358.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 205,895 shares of the company’s stock worth $26,779,000 after purchasing an additional 191,780 shares during the period. Finally, Capital International Investors bought a new position in shares of GeneDx during the third quarter worth approximately $10,805,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

About GeneDx

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.