GeneDx (NASDAQ:WGS) Trading Up 4.8% – Time to Buy?

GeneDx Holdings Corp. (NASDAQ:WGS)’s stock price was up 4.8% during mid-day trading on Monday . The stock traded as high as $59.83 and last traded at $59.8450. Approximately 103,962 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 757,542 shares. The stock had previously closed at $57.09.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on WGS. Guggenheim cut their price objective on shares of GeneDx from $170.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday. Weiss Ratings reissued a “sell (d)” rating on shares of GeneDx in a research note on Wednesday, January 21st. Wall Street Zen downgraded shares of GeneDx from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Canaccord Genuity Group increased their price objective on shares of GeneDx from $160.00 to $170.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Finally, Zacks Research upgraded shares of GeneDx from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.71.

GeneDx Stock Up 2.8%

The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.34 and a current ratio of 2.46. The stock’s fifty day simple moving average is $83.86 and its two-hundred day simple moving average is $115.69. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of -87.99 and a beta of 2.03.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Monday, February 23rd. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.03. GeneDx had a negative net margin of 4.92% and a positive return on equity of 14.73%. The company had revenue of $120.99 million for the quarter, compared to analysts’ expectations of $120.80 million. On average, sell-side analysts anticipate that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Insider Buying and Selling at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 25,459 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $78.61, for a total value of $2,001,331.99. Following the transaction, the chief executive officer owned 38,683 shares of the company’s stock, valued at approximately $3,040,870.63. This represents a 39.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Bryan Dechairo sold 5,961 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $85.70, for a total value of $510,857.70. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 65,875 shares of company stock worth $5,280,990. 29.60% of the stock is owned by corporate insiders.

Institutional Trading of GeneDx

A number of hedge funds have recently bought and sold shares of WGS. Kestra Advisory Services LLC acquired a new stake in shares of GeneDx during the fourth quarter valued at approximately $27,000. Jones Financial Companies Lllp grew its position in GeneDx by 664.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock worth $25,000 after purchasing an additional 186 shares in the last quarter. Ramirez Asset Management Inc. acquired a new stake in GeneDx during the 4th quarter valued at $33,000. Greenline Wealth Management LLC acquired a new stake in GeneDx during the 4th quarter valued at $33,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of GeneDx in the fourth quarter valued at $35,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

About GeneDx

GeneDx is a clinical diagnostics company specializing in comprehensive genetic and genomic testing for rare and inherited disorders. The company offers a broad portfolio of assays, including targeted gene panels, whole exome sequencing, whole genome sequencing and chromosomal microarray analysis. GeneDx’s laboratory services support the diagnosis of a wide range of conditions—from rare pediatric diseases and hereditary cancer syndromes to neuromuscular and metabolic disorders—by providing clinicians with detailed variant interpretation and reporting.

Founded in 2000 and based in Gaithersburg, Maryland, GeneDx was established with the aim of accelerating the translation of genomic discoveries into clinical care.