GeneDx (NASDAQ:WGS) Sees Strong Trading Volume – Should You Buy?

GeneDx Holdings Corp. (NASDAQ:WGS) shares saw strong trading volume on Wednesday . 1,920,810 shares changed hands during mid-day trading, an increase of 113% from the previous session’s volume of 903,514 shares.The stock last traded at $68.70 and had previously closed at $72.02.

Analyst Ratings Changes

Several brokerages have recently weighed in on WGS. The Goldman Sachs Group increased their price objective on shares of GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. TD Cowen lifted their price objective on GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Craig Hallum lifted their target price on GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company lifted their price objective on GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, GeneDx currently has an average rating of “Moderate Buy” and a consensus target price of $70.67.

GeneDx Stock Performance

The firm’s fifty day moving average is $77.91 and its 200 day moving average is $58.87. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of -22.09 and a beta of 2.01.

Insider Buying and Selling

In other GeneDx news, CEO Katherine Stueland sold 1,657 shares of the business’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $78.48, for a total value of $130,041.36. Following the completion of the transaction, the chief executive officer now directly owns 3,937 shares of the company’s stock, valued at approximately $308,975.76. The trade was a 29.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder School Of Medicine At Mo Icahn sold 20,359 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $69.78, for a total value of $1,420,651.02. Following the completion of the transaction, the insider now directly owns 2,846,474 shares in the company, valued at $198,626,955.72. The trade was a 0.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 363,669 shares of company stock valued at $28,061,081. 27.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Barclays PLC increased its stake in GeneDx by 346.3% in the 3rd quarter. Barclays PLC now owns 18,921 shares of the company’s stock valued at $803,000 after buying an additional 14,681 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in GeneDx during the third quarter worth about $325,000. Chartwell Investment Partners LLC bought a new stake in GeneDx during the third quarter worth about $1,722,000. Charles Schwab Investment Management Inc. boosted its position in GeneDx by 304.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 147,034 shares of the company’s stock valued at $6,240,000 after purchasing an additional 110,666 shares during the last quarter. Finally, Lisanti Capital Growth LLC acquired a new position in shares of GeneDx during the 3rd quarter worth approximately $1,554,000. Institutional investors own 61.72% of the company’s stock.

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.