Short Interest in GeneDx Holdings Corp. (NASDAQ:WGS) Rises By 28.5%

GeneDx Holdings Corp. (NASDAQ:WGS) saw a significant growth in short interest in February. As of February 15th, there was short interest totalling 2,750,000 shares, a growth of 28.5% from the January 31st total of 2,140,000 shares. Approximately 11.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 925,000 shares, the short-interest ratio is presently 3.0 days.

Insider Transactions at GeneDx

In other GeneDx news, CFO Kevin Feeley sold 3,728 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $76.75, for a total value of $286,124.00. Following the sale, the chief financial officer now owns 28,200 shares in the company, valued at approximately $2,164,350. The trade was a 11.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Katherine Stueland sold 3,661 shares of GeneDx stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $76.37, for a total value of $279,590.57. Following the completion of the transaction, the chief executive officer now directly owns 62,897 shares in the company, valued at approximately $4,803,443.89. This represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 127,321 shares of company stock worth $11,315,903. Corporate insiders own 27.30% of the company’s stock.

Institutional Investors Weigh In On GeneDx

A number of hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. acquired a new stake in shares of GeneDx in the 3rd quarter worth about $604,000. Chartwell Investment Partners LLC purchased a new stake in shares of GeneDx in the third quarter worth approximately $1,722,000. Lisanti Capital Growth LLC bought a new position in shares of GeneDx in the third quarter valued at approximately $1,554,000. GSA Capital Partners LLP purchased a new position in shares of GeneDx during the third quarter valued at approximately $322,000. Finally, Royce & Associates LP bought a new stake in GeneDx during the third quarter worth $1,201,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

Analysts Set New Price Targets

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

GeneDx Stock Up 4.6 %

Shares of GeneDx stock traded up $4.60 during trading on Wednesday, reaching $103.60. 276,907 shares of the company traded hands, compared to its average volume of 595,217. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. The firm has a market capitalization of $2.91 billion, a PE ratio of -52.66 and a beta of 2.01. The company has a 50 day moving average price of $81.93 and a 200-day moving average price of $66.55. GeneDx has a 1-year low of $7.72 and a 1-year high of $115.60.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data 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. The firm had revenue of $95.64 million for the quarter, compared to analyst estimates of $82.24 million. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. As a group, equities research analysts expect that GeneDx will post 0.97 earnings per share for the current fiscal year.

About GeneDx

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.