GeneDx (NASDAQ:WGS) Trading Up 7.9% – What’s Next?

GeneDx Holdings Corp. (NASDAQ:WGS) shares shot up 7.9% during trading on Thursday . The stock traded as high as $112.91 and last traded at $112.8050. 765,580 shares changed hands during mid-day trading, an increase of 16% from the average session volume of 661,806 shares. The stock had previously closed at $104.56.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on WGS shares. Zacks Research downgraded GeneDx from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 2nd. Weiss Ratings restated a “sell (d)” rating on shares of GeneDx in a research report on Wednesday, October 8th. Wells Fargo & Company set a $155.00 target price on shares of GeneDx and gave the company an “equal weight” rating in a research report on Monday, December 15th. Guggenheim restated a “buy” rating and set a $170.00 price target (up previously from $115.00) on shares of GeneDx in a research report on Wednesday, October 29th. Finally, BTIG Research raised their price target on shares of GeneDx from $165.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $138.13.

GeneDx Price Performance

The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 1,200.89 and a beta of 2.01. The stock’s 50-day moving average price is $140.64 and its 200 day moving average price is $123.41. The company has a quick ratio of 2.59, a current ratio of 2.71 and a debt-to-equity ratio of 0.18.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.21. The company had revenue of $116.74 million during the quarter, compared to analysts’ expectations of $104.33 million. GeneDx had a net margin of 0.52% and a return on equity of 20.22%. Equities research analysts expect that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In other GeneDx news, Director Joshua Ruch sold 38,000 shares of the business’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $160.37, for a total transaction of $6,094,060.00. Following the transaction, the director owned 11,941 shares of the company’s stock, valued at approximately $1,914,978.17. The trade was a 76.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Katherine Stueland sold 10,857 shares of the firm’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $143.89, for a total value of $1,562,213.73. Following the completion of the sale, the chief executive officer directly owned 14,237 shares of the company’s stock, valued at $2,048,561.93. This trade represents a 43.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 60,163 shares of company stock worth $9,339,792. 29.60% of the stock is owned by corporate insiders.

Institutional Trading of GeneDx

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada boosted its stake in GeneDx by 30.2% during the first quarter. Royal Bank of Canada now owns 29,479 shares of the company’s stock worth $2,611,000 after buying an additional 6,840 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of GeneDx by 6.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,641 shares of the company’s stock worth $677,000 after acquiring an additional 453 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of GeneDx by 270,700.0% during the 1st quarter. NewEdge Advisors LLC now owns 2,708 shares of the company’s stock worth $240,000 after purchasing an additional 2,707 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in GeneDx by 67.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 28,224 shares of the company’s stock valued at $2,500,000 after purchasing an additional 11,375 shares during the last quarter. Finally, Strs Ohio acquired a new stake in GeneDx in the 1st quarter valued at approximately $230,000. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

GeneDx Company Profile

GeneDx is a clinical diagnostics company specializing in comprehensive genetic and genomic testing for rare and inherited disorders. The company offers a broad portfolio of assays, including targeted gene panels, whole exome sequencing, whole genome sequencing and chromosomal microarray analysis. GeneDx’s laboratory services support the diagnosis of a wide range of conditions—from rare pediatric diseases and hereditary cancer syndromes to neuromuscular and metabolic disorders—by providing clinicians with detailed variant interpretation and reporting.

Founded in 2000 and based in Gaithersburg, Maryland, GeneDx was established with the aim of accelerating the translation of genomic discoveries into clinical care.