GeneDx (NASDAQ:WGS) Shares Gap Up - Should You Buy?

GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $85.22, but opened at $88.77. GeneDx shares last traded at $90.84, with a volume of 211,273 shares traded.

Analyst Upgrades and Downgrades

Several research analysts recently commented on WGS shares. Jefferies Financial Group upgraded shares of GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price target on the stock in a report on Friday, May 9th. Wall Street Zen upgraded shares of GeneDx from a "hold" rating to a "buy" rating in a research note on Saturday. Piper Sandler initiated coverage on shares of GeneDx in a report on Wednesday. They set an "overweight" rating and a $110.00 target price on the stock. Wells Fargo & Company reduced their price objective on GeneDx from $105.00 to $78.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Finally, Guggenheim restated a "buy" rating and issued a $115.00 price target (up previously from $88.00) on shares of GeneDx in a research note on Monday, June 30th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $92.33.

GeneDx Stock Performance

The company has a market cap of $2.62 billion, a P/E ratio of -65.16 and a beta of 2.01. The company's 50-day moving average price is $72.69 and its two-hundred day moving average price is $82.58. The company has a current ratio of 3.25, a quick ratio of 3.07 and a debt-to-equity ratio of 0.20.

GeneDx (NASDAQ:WGS - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.11 by $0.17. GeneDx had a positive return on equity of 10.17% and a negative net margin of 11.69%. The business had revenue of $87.12 million during the quarter, compared to analyst estimates of $79.90 million. As a group, equities analysts forecast that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Insider Transactions at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 9,657 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $90.94, for a total value of $878,207.58. Following the transaction, the chief executive officer owned 4,940 shares in the company, valued at $449,243.60. The trade was a 66.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Keith A. Meister acquired 100,000 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was purchased at an average price of $56.01 per share, for a total transaction of $5,601,000.00. Following the acquisition, the director directly owned 3,008,629 shares of the company's stock, valued at $168,513,310.29. The trade was a 3.44% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 13,913 shares of company stock valued at $1,314,514 over the last quarter. Company insiders own 29.60% of the company's stock.

Institutional Investors Weigh In On GeneDx

Several institutional investors and hedge funds have recently modified their holdings of WGS. Sterling Capital Management LLC lifted its stake in shares of GeneDx by 877.8% in 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. GAMMA Investing LLC increased its stake in GeneDx by 151.7% during the first quarter. GAMMA Investing LLC now owns 438 shares of the company's stock valued at $39,000 after acquiring an additional 264 shares during the period. Lazard Asset Management LLC acquired a new position in shares of GeneDx in the fourth quarter valued at $35,000. US Bancorp DE lifted its holdings in shares of GeneDx by 3,223.5% during the 1st quarter. US Bancorp DE now owns 565 shares of the company's stock worth $50,000 after acquiring an additional 548 shares during the period. Finally, Comerica Bank acquired a new stake in GeneDx during the fourth quarter valued at approximately $50,000. Institutional investors and hedge funds 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.