Stock Track | GeneDx Stock Soars on Q3 Beat and Raised Guidance Amid Robust Genomic Testing Growth

Stock Track

Oct 30, 2024

Shares of GeneDx Holdings Corp. (NASDAQ: WGS) surged nearly 51% on October 29, 2024, as the genetic testing company reported better-than-expected financial results for the third quarter and raised its full-year revenue guidance, fueling investor optimism about its growth prospects.

For the third quarter, GeneDx reported a narrowed net loss of $0.31 per share, beating analysts' expectations of a $0.50 loss. The company's revenue grew 44.2% year-over-year to $76.87 million, surpassing the consensus estimate of $64.99 million. The strong performance was driven by a significant 77% year-over-year growth in exome and genome test revenue, which reached $60 million.

GeneDx also announced that it has raised its full-year 2024 revenue guidance to a range of $284 million to $290 million, up from the previous guidance of $255 million to $265 million. The revised outlook exceeded the consensus estimate of $263.37 million, reflecting the company's confidence in its growth trajectory.

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(NASDAQ: WGS) surged nearly 51% on October 29, 2024, as the genetic testing company reported better-than-expected financial results for the third quarter and raised its full-year revenue guidance, fueling investor optimism about its growth prospects.</p>\n\n<p>For the third quarter, GeneDx reported a narrowed net loss of $0.31 per share, beating analysts' expectations of a $0.50 loss. The company's revenue grew 44.2% year-over-year to $76.87 million, surpassing the consensus estimate of $64.99 million. The strong performance was driven by a significant 77% year-over-year growth in exome and genome test revenue, which reached $60 million.</p>\n\n<p>GeneDx also announced that it has raised its full-year 2024 revenue guidance to a range of $284 million to $290 million, up from the previous guidance of $255 million to $265 million. 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(NASDAQ: WGS) surged nearly 51% on October 29, 2024, as the genetic testing company reported better-than-expected financial results for the third quarter and raised its full-year revenue guidance, fueling investor optimism about its growth prospects.</p>\n\n<p>For the third quarter, GeneDx reported a narrowed net loss of $0.31 per share, beating analysts' expectations of a $0.50 loss. The company's revenue grew 44.2% year-over-year to $76.87 million, surpassing the consensus estimate of $64.99 million. The strong performance was driven by a significant 77% year-over-year growth in exome and genome test revenue, which reached $60 million.</p>\n\n<p>GeneDx also announced that it has raised its full-year 2024 revenue guidance to a range of $284 million to $290 million, up from the previous guidance of $255 million to $265 million. The revised outlook exceeded the consensus estimate of $263.37 million, reflecting the company's confidence in its growth trajectory.</p>\n\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":"","article_id":"1109289891","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1109289891","pubTimestamp":1730236245,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of GeneDx Holdings Corp.  surged nearly 51% on October 29, 2024, as the genetic testing company reported better-than-expected financial results for the third quarter and raised its full-year revenue guidance, fueling investor optimism about its growth prospects.For the third quarter, GeneDx reported a narrowed net loss of $0.31 per share, beating analysts' expectations of a $0.50 loss. The company's revenue grew 44.2% year-over-year to $76.87 million, surpassing the consensus estimate of ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"WGS":"GeneDx Holdings"},"translate_title":"股票跟踪GeneDx股票在第三季度飙升，并在基因组测试强劲增长的情况下上调了指引","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"WGS":1},"content_text":"Shares of GeneDx Holdings Corp. (NASDAQ: WGS) surged nearly 51% on October 29, 2024, as the genetic testing company reported better-than-expected financial results for the third quarter and raised its full-year revenue guidance, fueling investor optimism about its growth prospects.\nFor the third quarter, GeneDx reported a narrowed net loss of $0.31 per share, beating analysts' expectations of a $0.50 loss. The company's revenue grew 44.2% year-over-year to $76.87 million, surpassing the consensus estimate of $64.99 million. 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