GeneDx (NASDAQ:WGS) Trading 6.5% Higher on Earnings Beat

Shares of GeneDx Holdings Corp. (NASDAQ:WGSGet Free Report) shot up 6.5% during trading on Monday following a stronger than expected earnings report. The company traded as high as $86.84 and last traded at $87.3630. 794,733 shares were traded during mid-day trading, an increase of 9% from the average session volume of 727,435 shares. The stock had previously closed at $82.06.

The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. The business had revenue of $120.99 million for the quarter, compared to analysts’ expectations of $120.80 million. GeneDx had a return on equity of 20.22% and a net margin of 0.52%.

GeneDx News Summary

Here are the key news stories impacting GeneDx this week:

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Wells Fargo & Company upgraded shares of GeneDx from an “equal weight” rating to an “overweight” rating and set a $155.00 price objective for the company in a research report on Monday, February 9th. Canaccord Genuity Group upped their price target on GeneDx from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. Wall Street Zen cut GeneDx from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Guggenheim reaffirmed a “buy” rating and issued a $170.00 target price (up previously from $115.00) on shares of GeneDx in a research note on Wednesday, October 29th. Finally, BTIG Research lifted their price target on shares of GeneDx from $165.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, GeneDx presently has an average rating of “Moderate Buy” and an average price target of $146.43.

Get Our Latest Stock Report on GeneDx

Insiders Place Their Bets

In related news, CFO Kevin Feeley sold 317 shares of the business’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $93.99, for a total value of $29,794.83. Following the completion of the transaction, the chief financial officer directly owned 9,168 shares in the company, valued at approximately $861,700.32. The trade was a 3.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Katherine Stueland sold 1,653 shares of GeneDx stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $94.00, for a total value of $155,382.00. Following the completion of the sale, the chief executive officer directly owned 16,458 shares in the company, valued at $1,547,052. This represents a 9.13% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 30,961 shares of company stock worth $3,933,831. Company insiders own 29.60% of the company’s stock.

Hedge Funds Weigh In On GeneDx

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Royal Bank of Canada grew its position in GeneDx by 30.2% during the first quarter. Royal Bank of Canada now owns 29,479 shares of the company’s stock valued at $2,611,000 after acquiring an additional 6,840 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of GeneDx by 6.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,641 shares of the company’s stock valued at $677,000 after buying an additional 453 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of GeneDx by 270,700.0% in the first quarter. NewEdge Advisors LLC now owns 2,708 shares of the company’s stock worth $240,000 after buying an additional 2,707 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in GeneDx by 67.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 28,224 shares of the company’s stock worth $2,500,000 after acquiring an additional 11,375 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in GeneDx in the 2nd quarter worth approximately $498,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

GeneDx Stock Up 5.1%

The stock has a market cap of $2.49 billion, a P/E ratio of 952.09 and a beta of 2.00. The company has a quick ratio of 2.59, a current ratio of 2.71 and a debt-to-equity ratio of 0.18. The company has a 50-day simple moving average of $112.39 and a two-hundred day simple moving average of $124.78.

About GeneDx

(Get Free Report)

GeneDx is a clinical diagnostics company specializing in comprehensive genetic and genomic testing for rare and inherited disorders. The company offers a broad portfolio of assays, including targeted gene panels, whole exome sequencing, whole genome sequencing and chromosomal microarray analysis. GeneDx’s laboratory services support the diagnosis of a wide range of conditions—from rare pediatric diseases and hereditary cancer syndromes to neuromuscular and metabolic disorders—by providing clinicians with detailed variant interpretation and reporting.

Founded in 2000 and based in Gaithersburg, Maryland, GeneDx was established with the aim of accelerating the translation of genomic discoveries into clinical care.

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