GeneDx Holdings Corp. (NASDAQ:WGS) Sees Significant Growth in Short Interest

GeneDx Holdings Corp. (NASDAQ:WGS) saw a large growth in short interest in the month of February. As of February 15th, there was short interest totalling 2,750,000 shares, a growth of 28.5% from the January 31st total of 2,140,000 shares. Based on an average trading volume of 925,000 shares, the days-to-cover ratio is currently 3.0 days. Currently, 11.4% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on WGS shares. The Goldman Sachs Group lifted their price objective on GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. TD Cowen lifted their price target on shares of GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, GeneDx currently has an average rating of “Moderate Buy” and a consensus price target of $72.33.

Insider Activity at GeneDx

In other GeneDx news, CFO Kevin Feeley sold 1,430 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $76.04, for a total transaction of $108,737.20. Following the sale, the chief financial officer now directly owns 26,770 shares in the company, valued at $2,035,590.80. This represents a 5.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Katherine Stueland sold 51,420 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $94.48, for a total transaction of $4,858,161.60. Following the completion of the transaction, the chief executive officer now owns 1,720 shares of the company’s stock, valued at approximately $162,505.60. This trade represents a 96.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,321 shares of company stock worth $11,315,903 in the last three months. 27.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On GeneDx

A number of institutional investors and hedge funds have recently bought and sold shares of WGS. Barclays PLC lifted its holdings in shares of GeneDx by 346.3% in the 3rd quarter. Barclays PLC now owns 18,921 shares of the company’s stock valued at $803,000 after purchasing an additional 14,681 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in GeneDx in the third quarter valued at approximately $325,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of GeneDx by 304.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 147,034 shares of the company’s stock valued at $6,240,000 after acquiring an additional 110,666 shares during the period. Chartwell Investment Partners LLC purchased a new position in shares of GeneDx during the third quarter worth approximately $1,722,000. Finally, Lisanti Capital Growth LLC acquired a new position in shares of GeneDx in the 3rd quarter valued at $1,554,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

GeneDx Trading Down 8.3 %

WGS opened at $94.35 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. GeneDx has a one year low of $7.72 and a one year high of $115.60. The company has a market cap of $2.65 billion, a P/E ratio of -48.14 and a beta of 2.01. The business’s 50-day simple moving average is $81.50 and its 200-day simple moving average is $66.09.

GeneDx (NASDAQ:WGS) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.66. The company had revenue of $95.64 million for the quarter, compared to analysts’ expectations of $82.24 million. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. As a group, equities research analysts expect that GeneDx will post 0.97 EPS for the current fiscal year.

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.