GeneDx (NASDAQ:WGS) Shares Gap Up on Earnings Beat

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $66.85, but opened at $71.36. GeneDx shares last traded at $65.54, with a volume of 533,862 shares trading hands.

The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.17. The company had revenue of $87.12 million during the quarter, compared to analyst estimates of $79.90 million. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%.

Wall Street Analysts Forecast Growth

WGS has been the subject of several analyst reports. TD Securities decreased their target price on GeneDx from $135.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday. TD Cowen upped their price target on GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. The Goldman Sachs Group lifted their price objective on shares of GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company decreased their target price on shares of GeneDx from $105.00 to $78.00 and set an “equal weight” rating for the company in a research note on Thursday. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $78.14.

Insider Transactions at GeneDx

In related news, CEO Katherine Stueland sold 46,594 shares of the company’s stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $89.62, for a total transaction of $4,175,754.28. Following the sale, the chief executive officer now directly owns 1,720 shares of the company’s stock, valued at approximately $154,146.40. This represents a 96.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kevin Feeley sold 922 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $94.72, for a total transaction of $87,331.84. Following the completion of the transaction, the chief financial officer now owns 5,446 shares in the company, valued at approximately $515,845.12. The trade was a 14.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 139,390 shares of company stock valued at $13,043,288. 27.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GeneDx

A number of large investors have recently bought and sold shares of WGS. MCF Advisors LLC lifted its holdings in shares of GeneDx by 107.7% in the 4th quarter. MCF Advisors LLC now owns 351 shares of the company’s stock worth $27,000 after purchasing an additional 182 shares during the last quarter. GAMMA Investing LLC lifted its stake in GeneDx by 151.7% in the first quarter. GAMMA Investing LLC now owns 438 shares of the company’s stock valued at $39,000 after buying an additional 264 shares during the last quarter. Palisades Investment Partners LLC boosted its holdings in shares of GeneDx by 0.4% during the first quarter. Palisades Investment Partners LLC now owns 83,913 shares of the company’s stock valued at $7,432,000 after acquiring an additional 309 shares during the period. Sterling Capital Management LLC increased its holdings in shares of GeneDx by 877.8% in the 4th quarter. Sterling Capital Management LLC now owns 352 shares of the company’s stock worth $27,000 after acquiring an additional 316 shares during the period. Finally, Global Retirement Partners LLC acquired a new position in GeneDx during the 4th quarter valued at about $28,000. Institutional investors own 61.72% of the company’s stock.

GeneDx Price Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of -34.30 and a beta of 1.93. The business’s 50 day simple moving average is $94.30 and its 200-day simple moving average is $82.57.

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.