GeneDx (NASDAQ:WGS) Sees Unusually-High Trading Volume – What’s Next?

GeneDx Holdings Corp. (NASDAQ:WGS) saw unusually-strong trading volume on Wednesday . Approximately 1,230,294 shares changed hands during trading, an increase of 40% from the previous session’s volume of 881,302 shares.The stock last traded at $35.7850 and had previously closed at $34.51.

Wall Street Analyst Weigh In

A number of brokerages have commented on WGS. Zacks Research cut GeneDx from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. Jefferies Financial Group set a $150.00 target price on shares of GeneDx in a report on Monday, February 23rd. Wall Street Zen cut shares of GeneDx from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Guggenheim dropped their price target on shares of GeneDx from $100.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Craig Hallum reissued a “buy” rating and issued a $85.00 price objective on shares of GeneDx in a research note on Tuesday. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $96.43.

GeneDx Stock Up 0.7%

The firm has a market cap of $1.19 billion, a P/E ratio of -15.21 and a beta of 2.06. The company’s 50-day simple moving average is $68.65 and its 200 day simple moving average is $105.43. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.09 and a quick ratio of 2.34.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings data on Monday, May 4th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.22). GeneDx had a negative net margin of 17.58% and a positive return on equity of 9.15%. The company had revenue of $102.25 million during the quarter, compared to the consensus estimate of $112.46 million. During the same period in the previous year, the business earned ($0.23) earnings per share. Research analysts anticipate that GeneDx Holdings Corp. will post 0.75 EPS for the current fiscal year.

Insider Activity at GeneDx

In other news, Director Keith A. Meister purchased 140,026 shares of the stock in a transaction dated Thursday, March 5th. The shares were acquired at an average cost of $81.19 per share, for a total transaction of $11,368,710.94. Following the acquisition, the director owned 3,228,150 shares of the company’s stock, valued at approximately $262,093,498.50. This represents a 4.53% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Katherine Stueland sold 2,172 shares of GeneDx stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $65.19, for a total transaction of $141,592.68. Following the completion of the transaction, the chief executive officer directly owned 93,216 shares in the company, valued at $6,076,751.04. This represents a 2.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 104,028 shares of company stock worth $7,377,165. Company insiders own 29.60% of the company’s stock.

Hedge Funds Weigh In On GeneDx

Hedge funds have recently made changes to their positions in the company. Kestra Advisory Services LLC acquired a new position in GeneDx during the fourth quarter valued at $27,000. Jones Financial Companies Lllp raised its stake in shares of GeneDx by 664.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock valued at $25,000 after buying an additional 186 shares during the last quarter. Ramirez Asset Management Inc. acquired a new position in shares of GeneDx in the 4th quarter valued at about $33,000. Greenline Wealth Management LLC purchased a new stake in shares of GeneDx in the fourth quarter worth about $33,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of GeneDx in the fourth quarter worth about $35,000. 61.72% of the stock is owned by institutional investors and hedge funds.

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.