GeneDx Shares Hit 52-Week High on 3Q Rev, Raised 2024 Guidance

Dow Jones

2024/10/29

By Chris Wack

GeneDx Holdings shares hit a 52-week high after the company said its third-quarter revenue beat analysts' expectations, and that it was raising 2024 revenue guidance.

Shares of the medical technology company traded as high as $76.69 early Tuesday, and were up 34% to $75.09 at 10 a.m. ET.

The Stamford, Conn., company reported revenue for the quarter of $76.9 million, compared with last year's $53.3 million, and the $65 million analysts were expecting.

The company narrowed its quarterly loss to $8.31 million, or 31 cents a share, from a loss of $42.3 million, or $1.64 a share, in the same quarter last year. Analysts polled by FactSet were looking for a loss of $6.3 million, or 50 cents a share.

GeneDx said exome and genome test revenue grew to $60 million, and increase of 77% year-over-year.

The company has raised its 2024 revenue guidance of $284 million to $290 million, from $255 million to $265 million. Analysts are expecting 2024 revenue of $263.4 million.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

October 29, 2024 10:28 ET (14:28 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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Analysts polled by FactSet were looking for a loss of $6.3 million, or 50 cents a share. \n</p>\n<p>\n  GeneDx said exome and genome test revenue grew to $60 million, and increase of 77% year-over-year. \n</p>\n<p>\n  The company has raised its 2024 revenue guidance of $284 million to $290 million, from $255 million to $265 million. Analysts are expecting 2024 revenue of $263.4 million. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Chris Wack at chris.wack@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 29, 2024 10:28 ET (14:28 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"WGS","symbol_name":"GeneDx Holdings","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2479289260","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2479289260","pubTimestamp":1730212080,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"GeneDx Holdings shares hit a 52-week high after the company said its third-quarter revenue beat analysts' expectations, and that it was raising 2024 revenue guidance.Shares of the medical technology company traded as high as $76.69  early Tuesday, and were up 34% to $75.09 at 10 a.m. ET.The Stamford, Conn., company reported revenue for the quarter of $76.9 million, compared with last year's $53.3 million, and the $65 million analysts were expecting.The company narrowed its quarterly loss to $8.31 million, or 31 cents a share, from a loss of $42.3 million, or $1.64 a share, in the same quarter last year. Analysts polled by FactSet were looking for a loss of $6.3 million, or 50 cents a share.GeneDx said exome and genome test revenue grew to $60 million, and increase of 77% year-over-year.The company has raised its 2024 revenue guidance of $284 million to $290 million, from $255 million to $265 million. 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Analysts polled by FactSet were looking for a loss of $6.3 million, or 50 cents a share. \n\n\n  GeneDx said exome and genome test revenue grew to $60 million, and increase of 77% year-over-year. \n\n\n  The company has raised its 2024 revenue guidance of $284 million to $290 million, from $255 million to $265 million. Analysts are expecting 2024 revenue of $263.4 million. \n\n\n \n\n\n  Write to Chris Wack at chris.wack@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 29, 2024 10:28 ET (14:28 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}