GeneDx (NASDAQ:WGS) Sets New 1-Year High - Still a Buy?

Key Points

• GeneDx Holdings Corp. shares recently reached a new 52-week high of $131.00, closing slightly lower at $129.95 with significant trading volume.
• Analyst upgrades have been prominent, with Wells Fargo raising its price target to $95.00 and several firms issuing "buy" ratings, leading to a consensus "Moderate Buy" rating and a target of $101.63.
• The company reported a surprising profit with $0.50 earnings per share for the last quarter, significantly exceeding the estimate of $0.10, showcasing strong growth with revenue of $102.69 million.

GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as $131.00 and last traded at $129.95, with a volume of 59249 shares trading hands. The stock had previously closed at $129.49.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Guggenheim reaffirmed a "buy" rating and set a $115.00 price objective (up from $88.00) on shares of GeneDx in a report on Monday, June 30th. Piper Sandler set a $120.00 price target on shares of GeneDx and gave the company an "overweight" rating in a research report on Monday, August 4th. Wall Street Zen raised shares of GeneDx from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Wells Fargo & Company raised their price target on shares of GeneDx from $78.00 to $95.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $101.63.

GeneDx Stock Up 1.8%

The stock has a 50 day moving average of $104.18 and a 200-day moving average of $90.96. The firm has a market capitalization of $3.81 billion, a P/E ratio of 2,650.80 and a beta of 2.04. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.70 and a current ratio of 2.87.

GeneDx (NASDAQ:WGS - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.50 EPS for the quarter, beating the consensus estimate 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%. GeneDx has set its FY 2025 guidance at EPS. Research analysts predict that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

Insider Activity at GeneDx

In other news, Director Casdin Capital, Llc sold 500,000 shares of GeneDx stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $120.90, for a total transaction of $60,450,000.00. Following the sale, the director owned 3,007,164 shares of the company's stock, valued at approximately $363,566,127.60. The trade was a 14.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jason Ryan sold 38,072 shares of the business's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $127.30, for a total value of $4,846,565.60. Following the completion of the transaction, the director directly owned 103,284 shares of the company's stock, valued at approximately $13,148,053.20. This trade represents a 26.93% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 561,641 shares of company stock worth $67,551,904. 29.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On GeneDx

Several institutional investors have recently bought and sold shares of the stock. Ameriprise Financial Inc. bought a new stake in shares of GeneDx in the fourth quarter worth about $2,645,000. Raymond James Financial Inc. increased its holdings in shares of GeneDx by 25.8% in the first quarter. Raymond James Financial Inc. now owns 333,376 shares of the company's stock worth $29,525,000 after purchasing an additional 68,331 shares during the last quarter. Voya Investment Management LLC bought a new position in shares of GeneDx in the 4th quarter valued at about $292,000. GAMMA Investing LLC lifted its holdings in shares of GeneDx by 22,194.3% in the 1st quarter. GAMMA Investing LLC now owns 38,792 shares of the company's stock valued at $3,436,000 after acquiring an additional 38,618 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of GeneDx by 111.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 190,297 shares of the company's stock valued at $16,097,000 after acquiring an additional 100,146 shares during the last quarter. 61.72% of the stock is 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.