GeneDx (NASDAQ:WGS) Shares Gap Up – Here’s What Happened

GeneDx Holdings Corp. (NASDAQ:WGS)’s share price gapped up prior to trading on Monday . The stock had previously closed at $84.29, but opened at $89.54. GeneDx shares last traded at $90.3480, with a volume of 98,108 shares trading hands.

Analysts Set New Price Targets

Several research firms recently issued reports on WGS. Weiss Ratings reaffirmed a “sell (d)” rating on shares of GeneDx in a report on Wednesday, January 21st. BTIG Research raised their price target on GeneDx from $165.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Wells Fargo & Company raised GeneDx from an “equal weight” rating to an “overweight” rating and set a $155.00 price objective for the company in a report on Monday. Guggenheim reiterated a “buy” rating and issued a $170.00 price objective (up previously from $115.00) on shares of GeneDx in a research note on Wednesday, October 29th. Finally, Canaccord Genuity Group increased 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. Seven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, GeneDx has a consensus rating of “Moderate Buy” and an average target price of $138.13.

GeneDx Stock Performance

The company has a market cap of $2.64 billion, a P/E ratio of 1,013.80 and a beta of 2.01. The business has a fifty day moving average of $126.14 and a 200 day moving average of $125.22. The company has a quick ratio of 2.59, a current ratio of 2.71 and a debt-to-equity ratio of 0.18.

Insider Buying and Selling

In other GeneDx news, CFO Kevin Feeley sold 317 shares of the company’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 $861,700.32. This represents a 3.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Bryan Dechairo sold 5,961 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $85.70, for a total value of $510,857.70. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 68,961 shares of company stock worth $10,027,891. Company insiders own 29.60% of the company’s stock.

Hedge Funds Weigh In On GeneDx

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp grew its stake in shares of GeneDx by 664.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock valued at $25,000 after purchasing an additional 186 shares during the last quarter. Quarry LP boosted its holdings in shares of GeneDx by 248.8% in the 3rd quarter. Quarry LP now owns 293 shares of the company’s stock valued at $32,000 after purchasing an additional 209 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in GeneDx during the 4th quarter worth approximately $35,000. Gordian Capital Singapore Pte Ltd purchased a new position in GeneDx in the third quarter valued at about $65,000. Finally, AlphaQuest LLC lifted its position in shares of GeneDx by 351.5% during the second quarter. AlphaQuest LLC now owns 763 shares of the company’s stock worth $70,000 after purchasing an additional 594 shares in the last quarter. 61.72% of the stock is owned by institutional investors and hedge funds.

About GeneDx

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.