GeneDx Holdings ( (WGS) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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GeneDx Holdings Corp. (WGS) has caught the attention of investors due to its recent announcement of an increased Q4 adjusted gross margin projection from 64% to 68%, indicating better operational efficiency and profitability. The company’s promising financial outlook for 2024 has further boosted investor confidence, leading TD Cowen to raise the price target for WGS from $75 to $118. Despite these positive developments, insider sentiment is mixed, with significant insider selling, including a large share sale by Director Jason Ryan. This combination of promising company forecasts and insider trading activity has led analysts to maintain a Strong Buy rating for the stock.
More about GeneDx Holdings
YTD Price Performance: -5.99%
Average Trading Volume: 721,001
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $2.18B
For further insights into WGS stock on TipRanks’ Stock Analysis page.
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