GeneDx (NASDAQ:WGS) Issues Quarterly Earnings Results, Beats Expectations By $0.25 EPS

by · The Markets Daily

GeneDx (NASDAQ:WGS – Get Free Report) released its quarterly earnings data on Tuesday. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.25, Zacks reports. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The company had revenue of $76.90 million during the quarter, compared to analyst estimates of $64.98 million. During the same quarter in the previous year, the business posted ($0.82) EPS. GeneDx’s revenue for the quarter was up 44.3% compared to the same quarter last year. GeneDx updated its FY 2024 guidance to EPS.

GeneDx Stock Performance

GeneDx stock traded down $4.60 during mid-day trading on Friday, reaching $77.09. 630,030 shares of the company’s stock were exchanged, compared to its average volume of 439,054. The business’s fifty day simple moving average is $46.60 and its 200 day simple moving average is $32.76. The company has a quick ratio of 2.22, a current ratio of 2.40 and a debt-to-equity ratio of 0.25. GeneDx has a one year low of $1.16 and a one year high of $89.11. The firm has a market capitalization of $2.08 billion, a PE ratio of -24.72 and a beta of 2.32.

Analysts Set New Price Targets

Several brokerages have issued reports on WGS. Craig Hallum increased their price target on GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday. BTIG Research boosted their price target on shares of GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. TD Cowen raised their price objective on shares of GeneDx from $46.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Wells Fargo & Company boosted their target price on shares of GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, The Goldman Sachs Group lifted their price target on GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $59.33.

Check Out Our Latest Research Report on WGS

Insider Buying and Selling at GeneDx

In other news, CEO Katherine Stueland sold 3,639 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $33.33, for a total transaction of $121,287.87. Following the completion of the transaction, the chief executive officer now directly owns 95,457 shares of the company’s stock, valued at $3,181,581.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Kevin Feeley sold 895 shares of GeneDx stock in a transaction on Monday, September 9th. The stock was sold at an average price of $33.33, for a total transaction of $29,830.35. Following the completion of the sale, the chief financial officer now owns 39,910 shares of the company’s stock, valued at approximately $1,330,200.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Katherine Stueland sold 3,639 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $33.33, for a total value of $121,287.87. Following the transaction, the chief executive officer now directly owns 95,457 shares of the company’s stock, valued at $3,181,581.81. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 269,829 shares of company stock worth $8,956,152 in the last quarter. 27.30% of the stock is currently owned by company insiders.

About GeneDx

(Get Free Report)

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.

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