GeneDx (NASDAQ:WGS) Shares Gap Up – What’s Next?

GeneDx Holdings Corp. (NASDAQ:WGS)’s share price gapped up prior to trading on Monday . The stock had previously closed at $84.29, but opened at $89.54. GeneDx shares last traded at $90.3480, with a volume of 98,108 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Weiss Ratings reissued a “sell (d)” rating on shares of GeneDx in a report on Wednesday, January 21st. Canaccord Genuity Group lifted their price target on GeneDx from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, December 22nd. Wells Fargo & Company raised GeneDx from an “equal weight” rating to an “overweight” rating and set a $155.00 price objective on the stock in a research note on Monday. Guggenheim restated a “buy” rating and issued a $170.00 price objective (up previously from $115.00) on shares of GeneDx in a report on Wednesday, October 29th. Finally, BTIG Research raised their target price on GeneDx from $165.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $138.13.

GeneDx Stock Performance

The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 1,053.11 and a beta of 2.00. The company’s 50-day simple moving average is $123.38 and its 200-day simple moving average is $125.39. The company has a quick ratio of 2.59, a current ratio of 2.71 and a debt-to-equity ratio of 0.18.

Insider Buying and Selling

In other news, Director Joshua Ruch sold 38,000 shares of the company’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 completion of the sale, the director directly owned 11,941 shares of the company’s stock, valued at $1,914,978.17. This represents a 76.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kevin Feeley sold 317 shares of the stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $93.99, for a total value of $29,794.83. Following the completion of the transaction, the chief financial officer owned 9,168 shares of the company’s stock, valued at $861,700.32. This trade represents a 3.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 68,961 shares of company stock valued at $10,027,891 over the last ninety days. 29.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Jones Financial Companies Lllp raised its holdings in shares of GeneDx by 664.3% during the third quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock valued at $25,000 after acquiring an additional 186 shares during the period. Quarry LP grew its position in GeneDx by 248.8% during the 3rd quarter. Quarry LP now owns 293 shares of the company’s stock worth $32,000 after purchasing an additional 209 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in GeneDx during the 4th quarter worth approximately $35,000. Gordian Capital Singapore Pte Ltd acquired a new stake in GeneDx during the 3rd quarter valued at $65,000. Finally, AlphaQuest LLC lifted its holdings in shares of GeneDx by 351.5% in the second quarter. AlphaQuest LLC now owns 763 shares of the company’s stock valued at $70,000 after purchasing an additional 594 shares in the last quarter. 61.72% of the stock is owned by hedge funds and other institutional investors.

About GeneDx

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.