GeneDx (NASDAQ:WGS) Trading 6.9% Higher After Insider Buying Activity

GeneDx Holdings Corp. (NASDAQ:WGS) shares traded up 6.9% during trading on Friday following insider buying activity. The company traded as high as $41.33 and last traded at $41.5330. 908,738 shares were traded during mid-day trading, a decline of 8% from the average session volume of 989,741 shares. The stock had previously closed at $38.85.

Specifically, Director Keith A. Meister acquired 165,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The stock was acquired at an average cost of $39.09 per share, with a total value of $6,449,850.00. Following the acquisition, the director directly owned 4,598,297 shares of the company’s stock, valued at $179,747,429.73. This represents a 3.72% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Keith A. Meister acquired 46,273 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was acquired at an average cost of $38.91 per share, with a total value of $1,800,482.43. Following the completion of the acquisition, the director directly owned 4,784,570 shares in the company, valued at approximately $186,167,618.70. This represents a 0.98% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In other GeneDx news, Director Keith A. Meister acquired 140,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average cost of $39.39 per share, with a total value of $5,514,600.00. Following the acquisition, the director directly owned 4,738,297 shares of the company’s stock, valued at $186,641,518.83. This represents a 3.04% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Zacks Research lowered GeneDx from a “strong-buy” rating to a “hold” rating in a report on Friday, April 24th. Craig Hallum reissued a “buy” rating and issued a $85.00 price objective on shares of GeneDx in a report on Tuesday, May 5th. Wall Street Zen lowered GeneDx from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. BTIG Research decreased their price objective on GeneDx from $170.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. Finally, Piper Sandler reissued an “overweight” rating and issued a $130.00 price objective (down from $160.00) on shares of GeneDx in a report on Tuesday, February 24th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $96.43.

More GeneDx News

Here are the key news stories impacting GeneDx this week:

• Positive Sentiment: Director Keith A. Meister kept buying shares, including 165,000 shares on May 13, 140,000 shares on May 14, and 46,273 shares on May 15, signaling strong insider confidence in GeneDx’s outlook and helping support the stock. Insider trade filing
• Neutral Sentiment: GeneDx received an average brokerage recommendation of “Moderate Buy,” suggesting Wall Street still sees upside despite the recent volatility. Brokerage recommendation article
• Negative Sentiment: A legal update from Pomerantz LLP said it is investigating claims on behalf of GeneDx investors, adding overhang from possible shareholder litigation after the company’s recent results. Pomerantz investigation article
• Negative Sentiment: Another law firm, Levi & Korsinsky, announced a securities investigation tied to GeneDx’s Q1 revenue miss and reduced full-year guidance, reinforcing concerns that the post-earnings selloff may not be over. Levi & Korsinsky investigation article
• Negative Sentiment: An analyst note cut GeneDx’s price target sharply to $98.94, highlighting a more cautious view after the company’s disappointing quarter. Price target cut article

GeneDx Trading Up 4.9%

The firm has a market capitalization of $1.21 billion, a P/E ratio of -15.21 and a beta of 2.06. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.95 and a current ratio of 3.09. The firm has a 50 day moving average price of $64.01 and a two-hundred day moving average price of $102.00.

GeneDx (NASDAQ:WGS) last released its quarterly earnings data on Monday, May 4th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.22). The company had revenue of $102.25 million for the quarter, compared to the consensus estimate of $112.46 million. GeneDx had a positive return on equity of 9.15% and a negative net margin of 17.58%.During the same period in the prior year, the business earned ($0.23) earnings per share. On average, equities research analysts expect that GeneDx Holdings Corp. will post -1 EPS for the current fiscal year.

Institutional Investors Weigh In On GeneDx

Large investors have recently modified their holdings of the stock. Jones Financial Companies Lllp boosted 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 worth $25,000 after acquiring an additional 186 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of GeneDx during the 4th quarter worth $27,000. Fifth Third Bancorp bought a new stake in shares of GeneDx during the 1st quarter worth $31,000. Quarry LP boosted its stake in shares of GeneDx by 248.8% during the 3rd quarter. Quarry LP now owns 293 shares of the company’s stock worth $32,000 after acquiring an additional 209 shares in the last quarter. Finally, Ramirez Asset Management Inc. purchased a new stake in shares of GeneDx in the fourth quarter valued at $33,000. 61.72% of the stock is owned by 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.