GeneDx (NASDAQ:WGS) Stock Price Up 9.2% – Should You Buy?

GeneDx Holdings Corp. (NASDAQ:WGS)’s share price traded up 9.2% during mid-day trading on Friday . The stock traded as high as $96.89 and last traded at $97.50. 112,807 shares were traded during trading, a decline of 81% from the average session volume of 609,345 shares. The stock had previously closed at $89.32.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group raised their price target on shares of GeneDx from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. TD Cowen increased their price objective on shares of GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $72.33.

GeneDx Price Performance

The stock has a market cap of $2.76 billion, a PE ratio of -50.24 and a beta of 1.90. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25. The company’s fifty day moving average is $84.60 and its 200 day moving average is $69.67.

GeneDx (NASDAQ:WGS) last posted its earnings results on Tuesday, February 18th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.66. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. The business had revenue of $95.64 million for the quarter, compared to analyst estimates of $82.24 million. As a group, sell-side analysts anticipate that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other GeneDx news, CFO Kevin Feeley sold 922 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $94.72, for a total value of $87,331.84. Following the completion of the transaction, the chief financial officer now directly owns 5,446 shares of the company’s stock, valued at $515,845.12. This represents a 14.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Katherine Stueland sold 18,006 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $78.18, for a total value of $1,407,709.08. Following the sale, the chief executive officer now owns 53,140 shares of the company’s stock, valued at $4,154,485.20. This represents a 25.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 126,176 shares of company stock worth $11,295,519 in the last 90 days. 27.30% of the stock is owned by company insiders.

Institutional Trading of GeneDx

Hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC increased its position in shares of GeneDx by 346.3% during the third quarter. Barclays PLC now owns 18,921 shares of the company’s stock worth $803,000 after acquiring an additional 14,681 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of GeneDx during the third quarter worth about $325,000. Charles Schwab Investment Management Inc. increased its position in shares of GeneDx by 304.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 147,034 shares of the company’s stock worth $6,240,000 after acquiring an additional 110,666 shares during the last quarter. Franklin Resources Inc. purchased a new stake in shares of GeneDx during the third quarter worth about $301,000. Finally, Principal Financial Group Inc. acquired a new position in GeneDx in the third quarter worth about $604,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

GeneDx Company Profile

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.