GeneDx (NASDAQ:WGS) Reaches New 52-Week High - Still a Buy?

Key Points

• GeneDx Holdings Corp. reached a new 52-week high of $135.39 on Monday, closing at $134.75 with a trading volume of 10,410 shares.
• Several analysts have upgraded GeneDx, with a consensus rating of "Moderate Buy" and an average target price of $101.63.
• The company reported a surprising $0.50 EPS in its latest earnings, well above the $0.10 consensus estimate, with revenues reaching $102.69 million.

GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $135.39 and last traded at $134.75, with a volume of 10410 shares changing hands. The stock had previously closed at $132.54.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Wall Street Zen upgraded shares of GeneDx from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Wells Fargo & Company boosted their target price 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. Piper Sandler boosted their target price on shares of GeneDx from $120.00 to $140.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Guggenheim restated a "buy" rating and set a $115.00 target price (up from $88.00) on shares of GeneDx in a research report on Monday, June 30th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $104.13.

GeneDx Trading Down 1.5%

The firm has a market capitalization of $3.56 billion, a P/E ratio of 2,479.00 and a beta of 2.04. The stock's 50-day simple moving average is $107.63 and its two-hundred day simple moving average is $91.99. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.87 and a quick ratio of 2.70.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.10 by $0.40. The business had revenue of $102.69 million during the quarter, compared to analyst estimates 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. Equities research analysts expect that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Insider Activity

In other GeneDx news, Director Casdin Capital, Llc sold 500,000 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $120.90, for a total value of $60,450,000.00. Following the completion of the transaction, the director directly owned 3,007,164 shares in the company, valued at $363,566,127.60. This represents a 14.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Katherine Stueland sold 9,657 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $90.94, for a total transaction of $878,207.58. Following the completion of the transaction, the chief executive officer owned 4,940 shares of the company's stock, valued at approximately $449,243.60. The trade was a 66.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 561,641 shares of company stock valued at $67,551,904. Company insiders own 29.60% of the company's stock.

Hedge Funds Weigh In On GeneDx

A number of hedge funds and other institutional investors have recently modified their holdings of WGS. Lazard Asset Management LLC bought a new position in shares of GeneDx during the fourth quarter worth $35,000. GAMMA Investing LLC boosted its position in shares of GeneDx by 151.7% during the first quarter. GAMMA Investing LLC now owns 438 shares of the company's stock worth $39,000 after acquiring an additional 264 shares during the last quarter. Comerica Bank bought a new position in shares of GeneDx during the fourth quarter worth $50,000. US Bancorp DE boosted its position in shares of GeneDx by 3,223.5% during the first quarter. US Bancorp DE now owns 565 shares of the company's stock worth $50,000 after acquiring an additional 548 shares during the last quarter. Finally, AlphaQuest LLC boosted its position in shares of GeneDx by 351.5% during the second quarter. AlphaQuest LLC now owns 763 shares of the company's stock worth $70,000 after acquiring an additional 594 shares during the last quarter. Institutional investors own 61.72% of the company's stock.

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.