GeneDx (NASDAQ:WGS) Trading Up 4.2% – Still a Buy?

GeneDx Holdings Corp. (NASDAQ:WGS)’s stock price rose 4.2% during mid-day trading on Tuesday . The company traded as high as $92.91 and last traded at $93.4860. Approximately 134,497 shares traded hands during trading, a decline of 86% from the average daily volume of 931,665 shares. The stock had previously closed at $89.74.

Analyst Ratings Changes

Several research firms have recently commented on WGS. Canaccord Genuity Group upped their price target on GeneDx from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. TD Cowen reissued a “buy” rating on shares of GeneDx in a research note on Wednesday, July 15th. Weiss Ratings raised shares of GeneDx from a “sell (e+)” rating to a “sell (d)” rating in a research note on Tuesday, August 4th. Wall Street Zen raised GeneDx from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, BTIG Research reissued a “buy” rating and issued a $90.00 price objective on shares of GeneDx in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.57.

GeneDx Trading Up 2.9%

The company has a current ratio of 3.30, a quick ratio of 3.06 and a debt-to-equity ratio of 0.40. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of -26.76 and a beta of 1.99. The business has a 50 day simple moving average of $76.31 and a two-hundred day simple moving average of $66.93.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.20. The business had revenue of $114.44 million during the quarter, compared to the consensus estimate of $111.01 million. GeneDx had a positive return on equity of 4.12% and a negative net margin of 23.41%.During the same period in the previous year, the business earned $0.36 EPS. As a group, equities analysts anticipate that GeneDx Holdings Corp. will post -0.41 EPS for the current year.

Insider Activity

In other GeneDx news, CEO Katherine Stueland sold 3,692 shares of GeneDx stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $84.22, for a total value of $310,940.24. Following the transaction, the chief executive officer owned 107,227 shares in the company, valued at approximately $9,030,657.94. The trade was a 3.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevin Feeley sold 1,285 shares of the business’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $84.22, for a total value of $108,222.70. Following the sale, the chief financial officer owned 41,476 shares in the company, valued at approximately $3,493,108.72. The trade was a 3.01% 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. Company insiders own 25.17% of the company’s stock.

Institutional Investors Weigh In On GeneDx

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Bancorp acquired a new stake in GeneDx in the 1st quarter worth $31,000. Ramirez Asset Management Inc. bought a new position in shares of GeneDx during the fourth quarter valued at $33,000. Nykredit A S acquired a new stake in shares of GeneDx during the 2nd quarter worth about $38,000. OP Asset Management Ltd bought a new stake in GeneDx during the 1st quarter worth approximately $45,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in GeneDx by 3,704.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 837 shares of the company’s stock valued at $109,000 after purchasing an additional 815 shares in the last quarter. 61.72% of the stock is currently owned by institutional investors and hedge funds.

GeneDx Company Profile

GeneDx Holdings Corp., doing business as GeneDx, is a healthcare company focused on genetic testing and genomic diagnostics. The company provides testing designed to help healthcare professionals diagnose rare and inherited conditions, guide clinical management, and support research into genetic disease.

Its offerings include whole exome and whole genome sequencing, targeted genetic tests, chromosomal microarray analysis, and other tests used to identify disease-causing genetic variants.