GeneDx stock catapulted Tuesday after the top-notch biotech smashed fourth-quarter expectations.
Many patients go through a "diagnostic odyssey" — a dizzying array of tests and scans over months and years — to sort out the cause of their symptoms. GeneDx's platform screens patients' DNA for abnormalities consistent with disease. It provides whole exome and genome sequencing. The exome includes protein-coding DNA. The genome is every piece of DNA.
"The fourth quarter capped an outstanding year for GeneDx as we work to end the diagnostic odyssey with earlier intervention using our industry-leading exome and genome testing for an ever-growing number of families," Chief Executive Katherine Stueland said in a written statement.
On the fourth-quarter beat, GeneDx stock surged 47.7%, closing at 112.76.
GeneDx Stock: Strong Beat, Guidance
During the fourth quarter, GeneDx earned an adjusted 77 cents per share, obliterating forecasts for 16 cents, according to FactSet. Earnings flipped from a year-earlier loss of 49 cents. Sales grew almost 65% to $95.6 million, well ahead of calls for $82.2 million.
GeneDx also guided to $350 million to $360 million in full-year sales. The low end of the outlook easily beat analysts' forecast for $340.4 million.
Shares have a top-notch IBD Digital Relative Strength Rating of 99. This means GeneDx ranks in the top 1% of all stocks in terms of 12-month performance.
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