GeneDx (NASDAQ:WGS) Hits New 1-Year High – Here’s What Happened

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) reached a new 52-week high on Monday . The company traded as high as $61.98 and last traded at $61.98, with a volume of 1850 shares changing hands. The stock had previously closed at $60.00.

Analysts Set New Price Targets

A number of brokerages recently commented on WGS. Wells Fargo & Company began coverage on GeneDx in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $34.00 price target for the company. Craig Hallum increased their price target on GeneDx from $43.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group increased their price target on GeneDx from $28.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. TD Cowen raised their target price on GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, BTIG Research raised their target price on GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Three 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, the company has an average rating of “Moderate Buy” and a consensus target price of $38.00.

GeneDx Stock Down 0.9 %

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 company has a 50 day moving average of $37.95 and a 200-day moving average of $27.78. The company has a market cap of $1.55 billion, a P/E ratio of -11.58 and a beta of 2.32.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings results on Tuesday, July 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.15. The firm had revenue of $70.51 million during the quarter, compared to analyst estimates of $58.90 million. GeneDx had a negative return on equity of 22.71% and a negative net margin of 48.21%. On average, equities analysts predict that GeneDx Holdings Corp. will post -0.75 earnings per share for the current year.

Insider Transactions at GeneDx

In related news, major shareholder Opko Health, Inc. sold 25,000 shares of the business’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $32.29, for a total transaction of $807,250.00. Following the transaction, the insider now owns 3,383,403 shares in the company, valued at $109,250,082.87. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Katherine Stueland sold 2,154 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $33.54, for a total value of $72,245.16. Following the transaction, the chief executive officer now directly owns 92,550 shares of the company’s stock, valued at approximately $3,104,127. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Opko Health, Inc. sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $32.29, for a total value of $807,250.00. Following the completion of the transaction, the insider now directly owns 3,383,403 shares in the company, valued at $109,250,082.87. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 643,668 shares of company stock worth $21,365,988. Company insiders own 28.10% of the company’s stock.

Institutional Investors Weigh In On GeneDx

Hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC purchased a new stake in GeneDx during the 2nd quarter valued at $34,000. nVerses Capital LLC purchased a new stake in shares of GeneDx in the 2nd quarter worth $50,000. CWM LLC purchased a new stake in shares of GeneDx in the 3rd quarter worth $89,000. SG Americas Securities LLC purchased a new stake in shares of GeneDx in the 3rd quarter worth $198,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of GeneDx in the 2nd quarter worth $290,000. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

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.