GeneDx (NASDAQ:WGS) Releases Earnings Results, Beats Estimates By $0.03 EPS

GeneDx (NASDAQ:WGS) posted its earnings results on Monday. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03, Zacks reports. GeneDx had a net margin of 0.52% and a return on equity of 20.22%.

GeneDx Stock Down 9.5%

Shares of NASDAQ WGS opened at $82.06 on Monday. GeneDx has a 1 year low of $55.17 and a 1 year high of $170.87. The firm has a 50-day simple moving average of $112.39 and a two-hundred day simple moving average of $124.78. The company has a market cap of $2.37 billion, a P/E ratio of 911.78 and a beta of 2.01. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.71 and a quick ratio of 2.59.

Analyst Ratings Changes

Several equities analysts have commented on WGS shares. Canaccord Genuity Group increased their price objective on shares of GeneDx from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, December 22nd. Guggenheim restated a “buy” rating and set a $170.00 target price (up from $115.00) on shares of GeneDx in a research report on Wednesday, October 29th. Wells Fargo & Company upgraded GeneDx from an “equal weight” rating to an “overweight” rating and set a $155.00 price target for the company in a research report on Monday, February 9th. Weiss Ratings restated a “sell (d)” rating on shares of GeneDx in a research report on Wednesday, January 21st. Finally, BTIG Research raised their price objective on GeneDx from $165.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $146.43.

Insider Transactions at GeneDx

In other GeneDx news, CFO Kevin Feeley sold 317 shares of the company’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $93.99, for a total value of $29,794.83. Following the transaction, the chief financial officer owned 9,168 shares of the company’s stock, valued at $861,700.32. This represents a 3.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Katherine Stueland sold 1,653 shares of the stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $94.00, for a total value of $155,382.00. Following the completion of the sale, the chief executive officer owned 16,458 shares in the company, valued at approximately $1,547,052. The trade was a 9.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 30,961 shares of company stock worth $3,933,831. 29.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Kestra Advisory Services LLC bought a new stake in GeneDx during the 4th quarter valued at about $27,000. Greenline Wealth Management LLC bought a new position in GeneDx in the 4th quarter worth about $33,000. Quarry LP increased its position in shares of GeneDx by 248.8% during the third quarter. Quarry LP now owns 293 shares of the company’s stock worth $32,000 after acquiring an additional 209 shares during the period. Empowered Funds LLC purchased a new position in shares of GeneDx during the fourth quarter worth approximately $73,000. Finally, Van ECK Associates Corp bought a new stake in shares of GeneDx during the fourth quarter valued at approximately $161,000. 61.72% of the stock is currently owned by 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.