GeneDx (NASDAQ:WGS) Stock Price Up 8% – Time to Buy?

GeneDx Holdings Corp. (NASDAQ:WGS)’s stock price was up 8% during mid-day trading on Monday . The company traded as high as $64.08 and last traded at $64.28. Approximately 346,260 shares changed hands during trading, a decline of 66% from the average daily volume of 1,026,019 shares. The stock had previously closed at $59.54.

Analyst Upgrades and Downgrades

A number of research analysts have commented on WGS shares. Wells Fargo & Company upped their target price on shares of GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group upped their price objective on shares of GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Craig Hallum lifted their target price on shares of GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, TD Cowen boosted their target price on GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $70.67.

GeneDx Stock Performance

The stock has a market capitalization of $1.95 billion, a PE ratio of -22.82 and a beta of 2.01. 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 firm’s 50 day moving average is $76.62 and its two-hundred day moving average is $59.99.

Insider Transactions at GeneDx

In other news, major shareholder School Of Medicine At Mo Icahn sold 126,782 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $70.78, for a total transaction of $8,973,629.96. Following the completion of the transaction, the insider now directly owns 2,719,692 shares of the company’s stock, valued at approximately $192,499,799.76. The trade was a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Katherine Stueland sold 51,420 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $94.48, for a total transaction of $4,858,161.60. Following the completion of the sale, the chief executive officer now directly owns 1,720 shares in the company, 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. Over the last 90 days, insiders have sold 363,669 shares of company stock valued at $28,061,081. 27.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On GeneDx

Several institutional investors have recently modified their holdings of the company. Barclays PLC raised its stake in GeneDx by 346.3% in the third quarter. Barclays PLC now owns 18,921 shares of the company’s stock valued at $803,000 after buying an additional 14,681 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in GeneDx during the third quarter worth approximately $325,000. Chartwell Investment Partners LLC acquired a new position in GeneDx in the third quarter valued at approximately $1,722,000. Charles Schwab Investment Management Inc. increased its stake in 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 purchasing an additional 110,666 shares during the last quarter. Finally, Lisanti Capital Growth LLC acquired a new stake in GeneDx during the third quarter worth approximately $1,554,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

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.