GeneDx (NASDAQ:WGS) Stock Price Up 5% - Here's What Happened

Key Points

• GeneDx Holdings Corp. (NASDAQ:WGS) saw a stock price increase of 5%, reaching $122.75, amidst a significant drop in trading volume.
• Multiple analysts have given varied ratings on the stock, with Piper Sandler increasing its price target to $140 and indicating an "overweight" rating, while Weiss Ratings maintained a "sell" rating.
• Insider trading activity disclosed a 26.93% decrease in ownership by Director Jason Ryan and a 41.87% decrease by CEO Katherine Stueland, with significant shares sold in recent transactions.

GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report)'s stock price rose 5% during trading on Thursday . The company traded as high as $123.48 and last traded at $122.75. Approximately 59,211 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 953,095 shares. The stock had previously closed at $116.91.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Weiss Ratings reiterated a "sell (d)" rating on shares of GeneDx in a research report on Wednesday, October 8th. Piper Sandler increased their price target on shares of GeneDx from $120.00 to $140.00 and gave the company an "overweight" rating in a research report on Thursday, September 11th. Wells Fargo & Company increased 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. Wall Street Zen upgraded shares of GeneDx from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Guggenheim reissued a "buy" rating and set a $115.00 price objective (up previously from $88.00) on shares of GeneDx in a research note on Monday, June 30th. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $104.13.

GeneDx Price Performance

The stock has a market cap of $3.43 billion, a PE ratio of 2,377.20 and a beta of 1.98. 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 50 day moving average is $122.17 and its 200-day moving average is $95.76.

GeneDx (NASDAQ:WGS - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.40. GeneDx had a net margin of 0.39% and a return on equity of 16.51%. The company had revenue of $102.69 million during the quarter, compared to the consensus estimate of $86.00 million. GeneDx has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Insider Buying and Selling at GeneDx

In other GeneDx news, Director Jason Ryan sold 38,072 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $127.30, for a total value of $4,846,565.60. Following the completion of the sale, the director directly owned 103,284 shares of the company's stock, valued at $13,148,053.20. The trade was a 26.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Katherine Stueland sold 10,501 shares of the business's stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $121.47, for a total transaction of $1,275,556.47. Following the completion of the sale, the chief executive officer directly owned 14,578 shares of the company's stock, valued at $1,770,789.66. This represents a 41.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 556,371 shares of company stock valued at $67,489,314 in the last ninety days. Company insiders own 29.60% of the company's stock.

Hedge Funds Weigh In On GeneDx

A number of hedge funds have recently made changes to their positions in WGS. GAMMA Investing LLC increased its position in shares of GeneDx by 151.7% during the 1st quarter. GAMMA Investing LLC now owns 438 shares of the company's stock worth $39,000 after purchasing an additional 264 shares in the last quarter. US Bancorp DE increased its position 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 purchasing an additional 548 shares in the last quarter. AlphaQuest LLC increased its position in shares of GeneDx by 351.5% during the 2nd quarter. AlphaQuest LLC now owns 763 shares of the company's stock worth $70,000 after purchasing an additional 594 shares in the last quarter. KBC Group NV acquired a new stake in shares of GeneDx during the 1st quarter worth about $81,000. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of GeneDx during the 1st quarter worth about $132,000. Institutional investors and hedge funds 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.

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