GeneDx (NASDAQ:WGS) Hits New 12-Month High on Analyst Upgrade

GeneDx Holdings Corp. (NASDAQ:WGS)’s stock price reached a new 52-week high on Wednesday after TD Cowen raised their price target on the stock from $14.00 to $24.00. TD Cowen currently has a buy rating on the stock. GeneDx traded as high as $19.60 and last traded at $19.48, with a volume of 762558 shares traded. The stock had previously closed at $17.07.

WGS has been the topic of several other reports. The Goldman Sachs Group increased their price objective on shares of GeneDx to $11.00 and gave the company a “neutral” rating in a research report on Monday, April 15th. BTIG Research raised their price target on shares of GeneDx from $15.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday.

Insider Activity

In other GeneDx news, Director Casdin Capital, Llc acquired 40,000 shares of the stock in a transaction dated Monday, March 4th. The shares were purchased at an average price of $8.74 per share, for a total transaction of $349,600.00. Following the purchase, the director now directly owns 2,702,609 shares of the company’s stock, valued at $23,620,802.66. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other news, Director Casdin Capital, Llc bought 40,000 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were bought at an average price of $8.74 per share, for a total transaction of $349,600.00. Following the purchase, the director now owns 2,702,609 shares in the company, valued at $23,620,802.66. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevin Feeley sold 3,253 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $10.59, for a total transaction of $34,449.27. Following the sale, the chief financial officer now owns 28,927 shares in the company, valued at approximately $306,336.93. The disclosure for this sale can be found here. Insiders have sold a total of 21,249 shares of company stock valued at $228,370 in the last 90 days. 28.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GeneDx

Institutional investors have recently added to or reduced their stakes in the stock. Thompson Davis & CO. Inc. grew its holdings in shares of GeneDx by 99.4% in the fourth quarter. Thompson Davis & CO. Inc. now owns 19,944 shares of the company’s stock valued at $55,000 after purchasing an additional 9,944 shares in the last quarter. PFG Investments LLC purchased a new position in shares of GeneDx in the first quarter valued at $95,000. Pathstone Family Office LLC grew its holdings in shares of GeneDx by 262.2% in the third quarter. Pathstone Family Office LLC now owns 54,327 shares of the company’s stock valued at $198,000 after purchasing an additional 39,327 shares in the last quarter. Decheng Capital LLC purchased a new position in shares of GeneDx in the fourth quarter valued at $285,000. Finally, Trellus Management Company LLC grew its holdings in shares of GeneDx by 55.0% in the third quarter. Trellus Management Company LLC now owns 155,012 shares of the company’s stock valued at $564,000 after purchasing an additional 54,976 shares in the last quarter. 61.72% of the stock is owned by hedge funds and other institutional investors.

GeneDx Stock Performance

The business’s fifty day moving average is $9.63 and its two-hundred day moving average is $5.19. The company has a quick ratio of 2.95, a current ratio of 3.10 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $545.05 million, a PE ratio of -4.04 and a beta of 2.75.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings data on Tuesday, February 20th. The company reported ($0.59) EPS for the quarter, topping the consensus estimate of ($0.60) by $0.01. The company had revenue of $57.42 million during the quarter, compared to analyst estimates of $57.00 million. GeneDx had a negative net margin of 60.86% and a negative return on equity of 34.40%. As a group, research analysts anticipate that GeneDx Holdings Corp. will post -2.02 EPS for the current fiscal year.

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.