GeneDx (NASDAQ:WGS) Hits New 1-Year High - Time to Buy?

Key Points

• GeneDx Holdings Corp. shares reached a new 52-week high of $119.39, closing at $117.97, with strong trading volume indicating increasing investor interest.
• Analysts have given GeneDx a consensus rating of "Moderate Buy" with price targets ranging from $80 to $120, signaling confidence in the company's growth potential.
• Despite recent insider sales, institutional investors continue to hold a significant stake, owning 61.72% of the company's stock, exemplifying ongoing institutional interest.

GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $119.39 and last traded at $117.97, with a volume of 101620 shares changing hands. The stock had previously closed at $116.41.

Analysts Set New Price Targets

A number of research analysts have issued reports on WGS shares. Jefferies Financial Group raised shares of GeneDx from a "hold" rating to a "buy" rating and set a $80.00 target price for the company in a report on Friday, May 9th. Wall Street Zen raised shares of GeneDx from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Guggenheim reissued a "buy" rating and set a $115.00 price objective (up from $88.00) on shares of GeneDx in a research note on Monday, June 30th. TD Securities dropped their price objective on shares of GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Piper Sandler set a $120.00 price objective on shares of GeneDx and gave the stock an "overweight" rating in a research note on Monday, August 4th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $101.63.

GeneDx Trading Up 3.5%

The company has a current ratio of 2.87, a quick ratio of 2.70 and a debt-to-equity ratio of 0.19. The company's fifty day moving average is $85.21 and its 200-day moving average is $84.73. The firm has a market capitalization of $3.46 billion, a P/E ratio of 2,411.30 and a beta of 2.02.

GeneDx (NASDAQ:WGS - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.40. The firm had revenue of $102.69 million during the quarter, compared to the consensus estimate of $86.00 million. GeneDx had a net margin of 0.39% and a return on equity of 16.51%. As a group, sell-side analysts anticipate that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

Insider Transactions at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 2,154 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $105.31, for a total value of $226,837.74. Following the completion of the transaction, the chief executive officer directly owned 3,440 shares of the company's stock, valued at approximately $362,266.40. The trade was a 38.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kevin Feeley sold 388 shares of the business's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $105.31, for a total transaction of $40,860.28. Following the completion of the transaction, the chief financial officer directly owned 3,757 shares of the company's stock, valued at approximately $395,649.67. This represents a 9.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,411 shares of company stock valued at $2,085,051 in the last quarter. 29.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Chung Wu Investment Group LLC raised its holdings in shares of GeneDx by 8.2% in the second quarter. Chung Wu Investment Group LLC now owns 3,300 shares of the company's stock valued at $305,000 after purchasing an additional 250 shares during the last quarter. GAMMA Investing LLC increased its holdings in GeneDx by 151.7% during the first quarter. GAMMA Investing LLC now owns 438 shares of the company's stock worth $39,000 after buying an additional 264 shares during the last quarter. Palisades Investment Partners LLC increased its holdings in GeneDx by 0.4% during the first quarter. Palisades Investment Partners LLC now owns 83,913 shares of the company's stock worth $7,432,000 after buying an additional 309 shares during the last quarter. Sterling Capital Management LLC increased its holdings 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 last quarter. Finally, MetLife Investment Management LLC increased its holdings in GeneDx by 6.2% during the fourth quarter. MetLife Investment Management LLC now owns 7,750 shares of the company's stock worth $596,000 after buying an additional 453 shares during the last quarter. Institutional investors own 61.72% of the company's stock.

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.

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