Short Interest in GeneDx Holdings Corp. (NASDAQ:WGS) Rises By 28.5%

GeneDx Holdings Corp. (NASDAQ:WGS) was the recipient of a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 2,750,000 shares, a growth of 28.5% from the January 31st total of 2,140,000 shares. Based on an average daily trading volume, of 925,000 shares, the short-interest ratio is presently 3.0 days. Currently, 11.4% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at GeneDx

In related news, CFO Kevin Feeley sold 35,506 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $93.82, for a total transaction of $3,331,172.92. Following the completion of the transaction, the chief financial officer now owns 2,472 shares in the company, valued at approximately $231,923.04. The trade was a 93.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Katherine Stueland sold 3,661 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $76.37, for a total transaction of $279,590.57. Following the completion of the sale, the chief executive officer now owns 62,897 shares in the company, valued at approximately $4,803,443.89. This trade represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 127,321 shares of company stock worth $11,315,903. Insiders own 27.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. MCF Advisors LLC grew its position in shares of GeneDx by 107.7% in the fourth 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 increased its position in GeneDx by 877.8% during the 4th 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 acquired a new stake in shares of GeneDx during the fourth quarter worth $28,000. Lazard Asset Management LLC bought a new stake in shares of GeneDx in the fourth quarter valued at about $35,000. Finally, Comerica Bank acquired a new position in shares of GeneDx in the fourth quarter valued at about $50,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

GeneDx Stock Performance

Shares of WGS stock traded up $4.60 on Wednesday, reaching $103.60. The stock had a trading volume of 276,907 shares, compared to its average volume of 595,217. GeneDx has a 12 month low of $7.72 and a 12 month high of $115.60. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of -52.66 and a beta of 2.01. The firm’s 50-day moving average is $81.93 and its two-hundred day moving average is $66.55. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25.

GeneDx (NASDAQ:WGS) last posted its earnings results on Tuesday, February 18th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.66. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. The business had revenue of $95.64 million for the quarter, compared to analyst estimates of $82.24 million. On average, research analysts expect that GeneDx will post 0.97 EPS for the current fiscal year.

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.