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

GeneDx Holdings Corp. (NASDAQ:WGS) has been given an average rating of “Moderate Buy” by the six research firms that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $59.33.

Several equities analysts have weighed in on the company. Craig Hallum increased their target price on GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group increased their price target on shares of GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company boosted their price objective on shares of GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th.

GeneDx Stock Performance

Shares of GeneDx stock opened at $78.05 on Monday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. The firm has a 50 day simple moving average of $74.30 and a 200 day simple moving average of $49.31. GeneDx has a fifty-two week low of $2.47 and a fifty-two week high of $89.11. The firm has a market cap of $2.14 billion, a P/E ratio of -25.10 and a beta of 2.03.

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

Insider Transactions at GeneDx

In related news, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $75.00, for a total transaction of $64,935,000.00. Following the transaction, the insider now directly owns 2,866,833 shares in the company, valued at approximately $215,012,475. The trade was a 23.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevin Feeley sold 3,728 shares of GeneDx stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $76.75, for a total transaction of $286,124.00. Following the completion of the transaction, the chief financial officer now directly owns 28,200 shares of the company’s stock, valued at approximately $2,164,350. This trade represents a 11.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,123,603 shares of company stock worth $83,300,382 in the last three months. Insiders own 27.30% of the company’s stock.

Institutional Investors Weigh In On GeneDx

Several hedge funds have recently added to or reduced their stakes in WGS. Renaissance Technologies LLC acquired a new stake in GeneDx during the second quarter worth approximately $2,362,000. Chartwell Investment Partners LLC acquired a new stake in GeneDx during the 3rd quarter worth approximately $1,722,000. Charles Schwab Investment Management Inc. boosted its stake in GeneDx by 304.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 147,034 shares of the company’s stock valued at $6,240,000 after purchasing an additional 110,666 shares during the period. Lisanti Capital Growth LLC acquired a new position in GeneDx in the 3rd quarter valued at $1,554,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in GeneDx in the 3rd quarter valued at $325,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

GeneDx Company Profile

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.