GeneDx (NASDAQ:WGS) Stock Price Up 4% – Still a Buy?

GeneDx Holdings Corp. (NASDAQ:WGS)’s stock price shot up 4% on Friday . The stock traded as high as $100.00 and last traded at $100.58. 208,439 shares traded hands during trading, a decline of 66% from the average session volume of 615,348 shares. The stock had previously closed at $96.71.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. TD Cowen upped their target price on GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. The Goldman Sachs Group increased their target price on shares of GeneDx from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, GeneDx currently has an average rating of “Moderate Buy” and an average target price of $72.33.

GeneDx Stock Up 4.7 %

The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. The company has a market cap of $2.84 billion, a price-to-earnings ratio of -52.03 and a beta of 1.91. The business has a fifty day moving average of $84.59 and a two-hundred day moving average of $71.15.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.66. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. The business had revenue of $95.64 million for the quarter, compared to the consensus estimate of $82.24 million. As a group, equities analysts anticipate that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Insider Activity

In related news, CEO Katherine Stueland sold 10,559 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $96.71, for a total transaction of $1,021,160.89. Following the completion of the sale, the chief executive officer now owns 14,865 shares of the company’s stock, valued at approximately $1,437,594.15. This represents a 41.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin Feeley sold 402 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $90.05, for a total transaction of $36,200.10. Following the completion of the transaction, the chief financial officer now directly owns 5,044 shares in the company, valued at $454,212.20. This trade represents a 7.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 127,735 shares of company stock worth $11,719,787 over the last quarter. 27.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On GeneDx

Several hedge funds and other institutional investors have recently bought and sold shares of WGS. MCF Advisors LLC lifted its stake in shares of GeneDx by 107.7% in the 4th quarter. MCF Advisors LLC now owns 351 shares of the company’s stock valued at $27,000 after purchasing an additional 182 shares during the last quarter. Sterling Capital Management LLC boosted its stake in GeneDx by 877.8% during the fourth quarter. Sterling Capital Management LLC now owns 352 shares of the company’s stock worth $27,000 after buying an additional 316 shares during the period. Global Retirement Partners LLC purchased a new position in GeneDx during the fourth quarter worth about $28,000. Lazard Asset Management LLC purchased a new stake in shares of GeneDx in the 4th quarter valued at approximately $35,000. Finally, Comerica Bank purchased a new stake in shares of GeneDx in the 4th quarter valued at approximately $50,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

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.