GeneDx (WGS) to Release Quarterly Earnings on Tuesday

GeneDx (NASDAQ:WGS) is scheduled to be posting its quarterly earnings results before the market opens on Tuesday, October 29th. Analysts expect GeneDx to post earnings of ($0.19) per share for the quarter. GeneDx has set its FY 2024 guidance at EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings results on Tuesday, July 30th. The company reported ($0.11) earnings per share for the quarter, beating 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 firm had revenue of $70.51 million during the quarter, compared to the consensus estimate of $58.90 million. On average, analysts expect GeneDx to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

GeneDx Price Performance

Shares of NASDAQ:WGS opened at $58.82 on Monday. GeneDx has a 1-year low of $1.16 and a 1-year high of $61.96. 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 business has a fifty day moving average price of $43.27 and a 200-day moving average price of $31.22. The company has a market capitalization of $1.54 billion, a PE ratio of -11.36 and a beta of 2.32.

Insider Buying and Selling

In other GeneDx news, major shareholder Opko Health, Inc. sold 100,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $31.82, for a total value of $3,182,000.00. Following the transaction, the insider now directly owns 2,871,570 shares of the company’s stock, valued at approximately $91,373,357.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other GeneDx news, major shareholder Opko Health, Inc. sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $31.82, for a total transaction of $3,182,000.00. Following the completion of the sale, the insider now directly owns 2,871,570 shares of the company’s stock, valued at approximately $91,373,357.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Katherine Stueland sold 3,639 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $33.33, for a total transaction of $121,287.87. Following the sale, the chief executive officer now directly owns 95,457 shares of the company’s stock, valued at approximately $3,181,581.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 356,240 shares of company stock worth $11,770,553. 28.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Craig Hallum raised their price target on GeneDx from $46.00 to $70.00 and gave the company a “buy” rating in a report on Thursday. The Goldman Sachs Group lifted their price objective on GeneDx from $32.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Wells Fargo & Company initiated coverage on GeneDx in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $34.00 price objective for the company. BTIG Research lifted their price objective on GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, TD Cowen lifted their price objective on GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $45.67.

About GeneDx

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.