GeneDx (NASDAQ:WGS) Announces Earnings Results

GeneDx (NASDAQ:WGS) released its quarterly earnings results on Monday. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.22), FiscalAI reports. GeneDx had a negative net margin of 4.92% and a positive return on equity of 14.73%. The business had revenue of $102.25 million for the quarter, compared to the consensus estimate of $112.46 million.

GeneDx Stock Up 3.9%

GeneDx stock traded up $2.55 during mid-day trading on Monday, hitting $67.93. The company had a trading volume of 1,267,107 shares, compared to its average volume of 732,351. GeneDx has a 12 month low of $55.17 and a 12 month high of $170.87. The company has a market capitalization of $1.99 billion, a PE ratio of -90.57 and a beta of 2.06. The stock’s 50 day moving average price is $71.45 and its two-hundred day moving average price is $107.17. The company has a current ratio of 2.46, a quick ratio of 2.34 and a debt-to-equity ratio of 0.16.

Wall Street Analysts Forecast Growth

WGS has been the subject of several research reports. Piper Sandler reissued an “overweight” rating and issued a $130.00 target price (down from $160.00) on shares of GeneDx in a research report on Tuesday, February 24th. BTIG Research decreased their target price on GeneDx from $200.00 to $170.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. Weiss Ratings reissued a “sell (d)” rating on shares of GeneDx in a research report on Wednesday, January 21st. Guggenheim decreased their target price on GeneDx from $170.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, March 30th. Finally, Zacks Research lowered GeneDx from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $134.17.

Insider Buying and Selling

In other news, COO Bryan Dechairo sold 5,961 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $85.70, for a total value of $510,857.70. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kevin Feeley sold 392 shares of the stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $65.19, for a total value of $25,554.48. Following the completion of the sale, the chief financial officer directly owned 34,942 shares in the company, valued at approximately $2,277,868.98. This represents a 1.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 109,989 shares of company stock valued at $7,888,023. Insiders own 29.60% of the company’s stock.

Institutional Investors Weigh In On GeneDx

Institutional investors have recently modified their holdings of the stock. Cetera Investment Advisers purchased a new stake in shares of GeneDx in the second quarter worth $249,000. Captrust Financial Advisors bought a new stake in shares of GeneDx in the 4th quarter worth $244,000. Vontobel Holding Ltd. bought a new stake in shares of GeneDx in the 4th quarter worth $220,000. CIBC Bancorp USA Inc. bought a new stake in shares of GeneDx in the 3rd quarter worth $216,000. Finally, Beacon Pointe Advisors LLC bought a new stake in shares of GeneDx in the 4th quarter worth $208,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

GeneDx Company Profile

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.