GeneDx Target of Unusually Large Options Trading (NASDAQ:WGS)

Key Points

• GeneDx Holdings Corp. experienced a significant increase in options trading, with a 24% rise in call options acquired on Wednesday, surpassing typical daily volumes.
• Shares of GeneDx saw an 8.3% increase and reached $99.36, reflecting a robust trading volume of 807,990 shares.
• Recent analyst ratings have influenced GeneDx's stock outlook, with reports from Jefferies Financial Group upgrading it to a "buy" and a consensus price target around $94.22.

GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) saw some unusual options trading activity on Wednesday. Stock investors purchased 5,281 call options on the company. Thisisanincreaseof24% compared to the typical volume of 4,272 call options.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WGS. Jefferies Financial Group raised shares of GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price objective for the company in a research report on Friday, May 9th. Wall Street Zen lowered GeneDx from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Guggenheim restated a "buy" rating and set a $115.00 price objective (up from $88.00) on shares of GeneDx in a research report on Monday, June 30th. Piper Sandler initiated coverage on shares of GeneDx in a research note on Wednesday, July 9th. They issued an "overweight" rating and a $110.00 price objective on the stock. Finally, Wells Fargo & Company boosted their target price on shares of GeneDx from $78.00 to $95.00 and gave the stock an "equal weight" rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $100.38.

GeneDx Stock Performance

GeneDx stock traded down $2.35 during mid-day trading on Friday, hitting $99.61. The company had a trading volume of 198,713 shares, compared to its average volume of 1,089,042. The company has a current ratio of 2.87, a quick ratio of 3.07 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of 1,991.06 and a beta of 2.01. The company's fifty day moving average is $79.42 and its 200-day moving average is $82.76. GeneDx has a 12-month low of $25.32 and a 12-month high of $117.75.

GeneDx (NASDAQ:WGS - Get Free Report) last announced 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 firm had revenue of $102.69 million for the quarter, compared to the consensus estimate of $86.00 million. Equities research analysts predict that GeneDx will post 0.97 EPS for the current year.

Insider Buying and Selling at GeneDx

In related 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 completion of the sale, the chief executive officer directly owned 4,940 shares of the company's stock, valued at $449,243.60. The trade was a 66.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Keith A. Meister purchased 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 completion of the acquisition, the director directly owned 3,008,629 shares of the company's stock, valued at approximately $168,513,310.29. This trade represents a 3.44% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders sold 22,411 shares of company stock valued at $2,085,051. Corporate insiders own 29.60% of the company's stock.

Institutional Investors Weigh In On GeneDx

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sterling Capital Management LLC grew its holdings in shares of GeneDx by 877.8% during the fourth quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock valued at $27,000 after purchasing an additional 316 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of GeneDx during the 4th quarter valued at about $35,000. GAMMA Investing LLC increased its holdings in shares of GeneDx by 151.7% during the 1st 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 last quarter. Comerica Bank acquired a new stake in GeneDx in the 4th quarter worth $50,000. Finally, US Bancorp DE grew 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 purchasing an additional 548 shares in the last quarter. Hedge funds and other 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.