GeneDx (NASDAQ:WGS) Sets New 1-Year High at $40.80

GeneDx Holdings Corp. (NASDAQ:WGS)’s stock price hit a new 52-week high on Thursday . The company traded as high as $40.80 and last traded at $40.23, with a volume of 114970 shares. The stock had previously closed at $38.77.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on WGS. TD Cowen lifted their price target on shares of GeneDx from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group lifted their target price on shares of GeneDx from $28.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Wells Fargo & Company started coverage on shares of GeneDx in a report on Tuesday, August 27th. They set an “equal weight” rating and a $34.00 price target for the company. Craig Hallum lifted their price objective on GeneDx from $43.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Jefferies Financial Group initiated coverage on GeneDx in a research report on Monday, June 3rd. They set a “hold” rating and a $21.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $38.00.

GeneDx Stock Up 4.8 %

The company has a debt-to-equity ratio of 0.27, a current ratio of 2.38 and a quick ratio of 2.22. The firm has a 50 day simple moving average of $33.36 and a 200-day simple moving average of $23.25. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -7.87 and a beta of 2.29.

GeneDx (NASDAQ:WGS) last announced its earnings results on Tuesday, July 30th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.15. GeneDx had a negative return on equity of 22.71% and a negative net margin of 48.21%. The business had revenue of $70.51 million for the quarter, compared to the consensus estimate of $58.90 million. On average, sell-side analysts forecast that GeneDx Holdings Corp. will post -0.75 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Opko Health, Inc. sold 14,082 shares of GeneDx stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $28.23, for a total value of $397,534.86. Following the completion of the sale, the insider now directly owns 3,469,521 shares in the company, valued at $97,944,577.83. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, major shareholder Opko Health, Inc. sold 14,082 shares of GeneDx stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $28.23, for a total transaction of $397,534.86. Following the completion of the sale, the insider now directly owns 3,469,521 shares of the company’s stock, valued at $97,944,577.83. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Katherine Stueland sold 2,154 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $33.54, for a total transaction of $72,245.16. Following the transaction, the chief executive officer now owns 92,550 shares of the company’s stock, valued at approximately $3,104,127. The disclosure for this sale can be found here. In the last quarter, insiders have sold 743,868 shares of company stock valued at $24,114,996. 28.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On GeneDx

Several institutional investors have recently added to or reduced their stakes in WGS. Decheng Capital LLC acquired a new stake in shares of GeneDx in the fourth quarter valued at about $285,000. Thompson Davis & CO. Inc. raised its stake in shares of GeneDx by 20.8% during the 1st quarter. Thompson Davis & CO. Inc. now owns 24,094 shares of the company’s stock worth $220,000 after purchasing an additional 4,150 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of GeneDx by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 707,612 shares of the company’s stock valued at $6,460,000 after buying an additional 28,678 shares during the last quarter. Gagnon Advisors LLC grew its stake in shares of GeneDx by 41.6% in the first quarter. Gagnon Advisors LLC now owns 211,393 shares of the company’s stock valued at $1,930,000 after buying an additional 62,059 shares in the last quarter. Finally, Gagnon Securities LLC increased its holdings in GeneDx by 59.3% during the first quarter. Gagnon Securities LLC now owns 556,305 shares of the company’s stock worth $5,079,000 after buying an additional 207,027 shares during the last quarter. 61.72% of the stock is owned by institutional investors.

GeneDx Company Profile

GeneDx Holdings Corp., through its subsidiaries, provides genomics-related diagnostic and information services. The company offers Centrellis, an AI-driven health intelligence platform that integrates digital tools and artificial intelligence allowing scientists to ingest and synthesize clinical and genomic data to deliver comprehensive health insights.