GeneDx Holdings Corp. (NASDAQ:WGS) Receives Average Rating of “Moderate Buy” from Analysts

GeneDx Holdings Corp. (NASDAQ:WGS) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $59.33.

WGS has been the topic of a number of research analyst reports. Craig Hallum lifted their target price on GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company boosted their target price on GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group upped their price objective on GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th.

GeneDx Stock Up 6.1 %

GeneDx stock opened at $79.63 on Thursday. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of -25.60 and a beta of 2.03. GeneDx has a 52 week low of $1.45 and a 52 week high of $89.11. The business’s 50-day moving average price is $65.14 and its 200 day moving average price is $42.63. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.21) by $0.25. The company had revenue of $76.90 million for the quarter, compared to analyst estimates of $64.98 million. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. GeneDx’s quarterly revenue was up 44.3% compared to the same quarter last year. During the same period last year, the company earned ($0.82) earnings per share. As a group, sell-side analysts anticipate that GeneDx will post -0.24 earnings per share for the current year.

Insider Buying and Selling

In other GeneDx news, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $75.00, for a total value of $64,935,000.00. Following the completion of the sale, the insider now directly owns 2,866,833 shares in the company, valued at $215,012,475. This represents a 23.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kevin Feeley sold 12,019 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $73.76, for a total value of $886,521.44. Following the sale, the chief financial officer now owns 32,932 shares of the company’s stock, valued at $2,429,064.32. This trade represents a 26.74 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,109,110 shares of company stock worth $81,993,001. Corporate insiders own 27.30% of the company’s stock.

Institutional Trading of GeneDx

Several large investors have recently added to or reduced their stakes in the company. Driehaus Capital Management LLC acquired a new position in shares of GeneDx in the second quarter worth $11,335,000. Fred Alger Management LLC bought a new stake in shares of GeneDx in the third quarter valued at about $16,731,000. Assenagon Asset Management S.A. bought a new stake in shares of GeneDx in the second quarter valued at about $9,575,000. Divisadero Street Capital Management LP bought a new position in GeneDx during the second quarter worth about $5,886,000. Finally, Millennium Management LLC lifted its stake in GeneDx by 193.5% during the second quarter. Millennium Management LLC now owns 311,401 shares of the company’s stock worth $8,140,000 after purchasing an additional 205,318 shares during the period. 61.72% of the stock is owned by institutional investors and hedge funds.

About GeneDx

GeneDx Holdings Corp., through its subsidiaries, provides genomics-related diagnostic and information services. The company offers Centrellis, an AI-driven health intelligence platform that integrates digital tools and artificial intelligence allowing scientists to ingest and synthesize clinical and genomic data to deliver comprehensive health insights.