GeneDx (NASDAQ:WGS) Sets New 52-Week High Following Analyst Upgrade

GeneDx Holdings Corp. (NASDAQ:WGS)’s stock price hit a new 52-week high during mid-day trading on Wednesday after TD Cowen raised their price target on the stock from $14.00 to $24.00. TD Cowen currently has a buy rating on the stock. GeneDx traded as high as $19.60 and last traded at $19.48, with a volume of 762558 shares. The stock had previously closed at $17.07.

A number of other brokerages also recently issued reports on WGS. BTIG Research increased their price target on GeneDx from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday. The Goldman Sachs Group upped their target price on GeneDx to $11.00 and gave the stock a “neutral” rating in a research note on Monday, April 15th.

Insider Activity at GeneDx

In related news, Director Casdin Capital, Llc acquired 40,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was acquired at an average cost of $8.74 per share, for a total transaction of $349,600.00. Following the completion of the acquisition, the director now directly owns 2,702,609 shares of the company’s stock, valued at approximately $23,620,802.66. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other GeneDx news, CFO Kevin Feeley sold 3,253 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $10.59, for a total transaction of $34,449.27. Following the completion of the sale, the chief financial officer now directly owns 28,927 shares in the company, valued at approximately $306,336.93. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Casdin Capital, Llc purchased 40,000 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were acquired at an average price of $8.74 per share, with a total value of $349,600.00. Following the completion of the acquisition, the director now owns 2,702,609 shares in the company, valued at approximately $23,620,802.66. The disclosure for this purchase can be found here. Insiders sold 21,249 shares of company stock worth $228,370 over the last three months. Company insiders own 28.10% of the company’s stock.

Institutional Trading of GeneDx

A number of large investors have recently bought and sold shares of the business. PFG Investments LLC acquired a new stake in shares of GeneDx in the 1st quarter valued at about $95,000. Thompson Davis & CO. Inc. grew its stake in shares of GeneDx by 99.4% in the 4th quarter. Thompson Davis & CO. Inc. now owns 19,944 shares of the company’s stock valued at $55,000 after buying an additional 9,944 shares during the period. Pathstone Family Office LLC grew its stake in shares of GeneDx by 262.2% in the 3rd quarter. Pathstone Family Office LLC now owns 54,327 shares of the company’s stock valued at $198,000 after buying an additional 39,327 shares during the period. Decheng Capital LLC acquired a new stake in shares of GeneDx in the 4th quarter valued at about $285,000. Finally, Trellus Management Company LLC grew its stake in shares of GeneDx by 55.0% in the 3rd quarter. Trellus Management Company LLC now owns 155,012 shares of the company’s stock valued at $564,000 after buying an additional 54,976 shares during the period. 61.72% of the stock is currently owned by institutional investors and hedge funds.

GeneDx Stock Performance

The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.95 and a current ratio of 3.10. The company has a 50 day moving average price of $9.63 and a 200 day moving average price of $5.19. The company has a market capitalization of $507.45 million, a price-to-earnings ratio of -3.52 and a beta of 2.75.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings results on Tuesday, February 20th. The company reported ($0.59) earnings per share for the quarter, beating the consensus estimate of ($0.60) by $0.01. GeneDx had a negative net margin of 60.86% and a negative return on equity of 34.40%. The business had revenue of $57.42 million for the quarter, compared to analysts’ expectations of $57.00 million. Equities research analysts predict that GeneDx Holdings Corp. will post -2.02 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.