GeneDx (NASDAQ:WGS) Stock Price Up 5.4% - Still a Buy?

Key Points

• GeneDx Holdings Corp.'s stock rose by 5.4% on Monday, trading at $84.17, with a significant trading volume increase of 6% compared to the average session.
• Wall Street analysts have mixed opinions, with ratings ranging from "buy" to "hold", and the average price target set at $92.33.
• Recent insider transactions show CEO and CFO both sold shares, indicating a 66.16% and 60.88% decrease in their stock positions, respectively.

GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report)'s stock price shot up 5.4% on Monday . The company traded as high as $84.27 and last traded at $84.17. 1,125,343 shares changed hands during mid-day trading, an increase of 6% from the average session volume of 1,063,832 shares. The stock had previously closed at $79.83.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Wall Street Zen lowered shares of GeneDx from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Wells Fargo & Company lowered their price target on GeneDx from $105.00 to $78.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Jefferies Financial Group upgraded GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price objective for the company in a report on Friday, May 9th. Piper Sandler assumed coverage on GeneDx in a report on Wednesday, July 9th. They set an "overweight" rating and a $110.00 target price on the stock. Finally, TD Securities cut their price target on shares of GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $92.33.

GeneDx Price Performance

The stock's fifty day moving average price is $77.34 and its 200-day moving average price is $82.46. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.25 and a quick ratio of 3.07. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of -60.22 and a beta of 2.01.

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

Insider Buying and Selling at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 9,657 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were 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 approximately $449,243.60. This represents a 66.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin Feeley sold 5,278 shares of the stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $93.00, for a total value of $490,854.00. Following the completion of the transaction, the chief financial officer owned 3,392 shares in the company, valued at $315,456. This represents a 60.88% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,411 shares of company stock worth $2,104,828. 29.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On GeneDx

Several institutional investors and hedge funds have recently added to or reduced their stakes in WGS. Lord Abbett & CO. LLC bought a new position in GeneDx in the fourth quarter worth $48,458,000. Summit Partners Public Asset Management LLC increased its stake in GeneDx by 336.9% in the fourth quarter. Summit Partners Public Asset Management LLC now owns 755,564 shares of the company's stock valued at $58,073,000 after acquiring an additional 582,619 shares during the period. T. Rowe Price Investment Management Inc. bought a new stake in GeneDx in the first quarter valued at about $44,614,000. Alliancebernstein L.P. lifted its stake in GeneDx by 3,054.5% during the first quarter. Alliancebernstein L.P. now owns 436,900 shares of the company's stock worth $38,694,000 after purchasing an additional 423,050 shares during the period. Finally, Science & Technology Partners L.P. acquired a new stake in GeneDx during the fourth quarter valued at approximately $30,821,000. 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.

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