GeneDx (NASDAQ:WGS) Stock Price Up 7.5% - What's Next?

GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) shares traded up 7.5% during mid-day trading on Tuesday . The stock traded as high as $90.82 and last traded at $85.71. 698,305 shares changed hands during trading, a decline of 13% from the average session volume of 799,035 shares. The stock had previously closed at $79.71.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of GeneDx from a "buy" rating to a "hold" rating in a report on Saturday. Guggenheim assumed coverage on GeneDx in a research note on Thursday, May 15th. They issued a "buy" rating and a $88.00 target price for the company. Jefferies Financial Group upgraded GeneDx from a "hold" rating to a "buy" rating and set a $80.00 target price for the company in a research note on Friday, May 9th. Wells Fargo & Company reduced their target price on GeneDx from $105.00 to $78.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Finally, TD Securities reduced their price objective on GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $86.75.

GeneDx Trading Down 2.2%

The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.07 and a current ratio of 3.25. The company has a 50 day moving average of $74.92 and a two-hundred day moving average of $81.54. The stock has a market cap of $2.54 billion, a PE ratio of 99.89 and a beta of 1.94.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $87.12 million for the quarter, compared to analysts' expectations of $79.90 million. Sell-side analysts anticipate that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Keith A. Meister bought 100,000 shares of the stock in a transaction dated Thursday, May 8th. The shares were acquired at an average cost of $56.01 per share, for a total transaction of $5,601,000.00. Following the acquisition, the director now directly owns 3,008,629 shares in the company, valued at approximately $168,513,310.29. This trade represents a 3.44% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Katherine Stueland sold 46,594 shares of the business's stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $89.62, for a total value of $4,175,754.28. Following the transaction, the chief executive officer now owns 1,720 shares in the company, valued at approximately $154,146.40. This represents a 96.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 65,022 shares of company stock worth $5,919,860. Insiders own 29.60% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in GeneDx by 2.5% in the first quarter. Vanguard Group Inc. now owns 1,031,326 shares of the company's stock valued at $91,339,000 after acquiring an additional 25,116 shares during the last quarter. Summit Partners Public Asset Management LLC lifted its stake in GeneDx by 336.9% during the fourth quarter. Summit Partners Public Asset Management LLC now owns 755,564 shares of the company's stock worth $58,073,000 after purchasing an additional 582,619 shares in the last quarter. William Blair Investment Management LLC acquired a new position in GeneDx during the fourth quarter worth $51,496,000. Lord Abbett & CO. LLC acquired a new position in GeneDx during the fourth quarter worth $48,458,000. Finally, Fred Alger Management LLC lifted its stake in GeneDx by 2.0% during the first quarter. Fred Alger Management LLC now owns 557,018 shares of the company's stock worth $49,332,000 after purchasing an additional 10,964 shares in the last quarter. 61.72% of the stock is currently owned by institutional investors and hedge funds.

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.