GeneDx Stock Up Over 33% On Increased Annual Revenue Above View- Update

(RTTNews) - Shares of GeneDx Holdings Corp. (WGS) are trading up over 28 percent after the company revised up its annual revenue outlook, above analysts' estimates.

For the full year, the firm now expects revenue of $284 million to $290 million, higher than the prior guidance of $255 million to $265 million. Six analysts, on average, polled by Thomson Reuters forecast the firm to generate revenue of $263.37 million, for the year. Analysts' estimates typically exclude special items.

Full-year adjusted gross margin profile is now projected to be at least 62 percent, compared with previous guidance of at least 60 percent.

WGS was trading up by 33.79 percent at $75 on the Nasdaq.