GeneDx (NASDAQ:WGS) Shares Up 4% – Time to Buy?

GeneDx Holdings Corp. (NASDAQ:WGS) shares were up 4% during trading on Friday . The stock traded as high as $100.00 and last traded at $100.58. Approximately 208,439 shares traded hands during trading, a decline of 66% from the average daily volume of 615,348 shares. The stock had previously closed at $96.71.

Analyst Ratings Changes

A number of brokerages have recently weighed in on WGS. The Goldman Sachs Group lifted their price objective on GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. TD Cowen lifted their target price on GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research 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. Based on data from MarketBeat, GeneDx currently has an average rating of “Moderate Buy” and a consensus price target of $72.33.

GeneDx Stock Performance

The stock has a market capitalization of $2.84 billion, a PE ratio of -52.03 and a beta of 1.91. 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 stock has a fifty day moving average of $84.59 and a 200-day moving average of $71.15.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.66. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. The business had revenue of $95.64 million during the quarter, compared to analysts’ expectations of $82.24 million. Equities analysts anticipate that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Katherine Stueland sold 10,559 shares of GeneDx stock in a transaction on Monday, March 17th. The shares were sold at an average price of $96.71, for a total transaction of $1,021,160.89. Following the sale, the chief executive officer now directly owns 14,865 shares in the company, valued at $1,437,594.15. This trade represents a 41.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin Feeley sold 1,430 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.04, for a total value of $108,737.20. Following the completion of the sale, the chief financial officer now directly owns 26,770 shares of the company’s stock, valued at approximately $2,035,590.80. This trade represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 127,735 shares of company stock worth $11,719,787 in the last 90 days. Corporate insiders own 27.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of WGS. MCF Advisors LLC boosted its stake in shares of GeneDx by 107.7% during the fourth quarter. MCF Advisors LLC now owns 351 shares of the company’s stock worth $27,000 after buying an additional 182 shares during the period. Sterling Capital Management LLC lifted its position in GeneDx by 877.8% during the 4th quarter. Sterling Capital Management LLC now owns 352 shares of the company’s stock worth $27,000 after acquiring an additional 316 shares during the period. Global Retirement Partners LLC acquired a new stake in GeneDx during the 4th quarter worth approximately $28,000. Lazard Asset Management LLC purchased a new position in shares of GeneDx in the 4th quarter valued at approximately $35,000. Finally, Comerica Bank acquired a new position in shares of GeneDx in the fourth quarter valued at approximately $50,000. 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.