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

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) have been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $70.67.

WGS has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price objective on GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. TD Cowen increased their price target on shares of GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Craig Hallum boosted their price objective on shares of GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group increased their target price on shares of GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th.

Insider Activity at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 2,154 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $66.60, for a total value of $143,456.40. Following the sale, the chief executive officer now directly owns 105,426 shares in the company, valued at $7,021,371.60. The trade was a 2.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kevin Feeley sold 12,019 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $73.76, for a total transaction of $886,521.44. Following the transaction, the chief financial officer now owns 32,932 shares of the company’s stock, valued at $2,429,064.32. This represents a 26.74 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,229,965 shares of company stock valued at $93,006,163. 27.30% of the stock is owned by corporate insiders.

Institutional Trading of GeneDx

A number of institutional investors have recently made changes to their positions in WGS. Driehaus Capital Management LLC purchased a new position in shares of GeneDx during the 2nd quarter worth approximately $11,335,000. Fred Alger Management LLC purchased a new stake in GeneDx in the third quarter worth $16,731,000. Geode Capital Management LLC grew its stake in GeneDx by 8.7% in the third quarter. Geode Capital Management LLC now owns 377,631 shares of the company’s stock worth $16,030,000 after purchasing an additional 30,379 shares during the period. State Street Corp raised its holdings in GeneDx by 18.3% in the third quarter. State Street Corp now owns 314,914 shares of the company’s stock worth $13,365,000 after purchasing an additional 48,735 shares in the last quarter. Finally, Millennium Management LLC lifted its position in GeneDx by 193.5% during the second quarter. Millennium Management LLC now owns 311,401 shares of the company’s stock valued at $8,140,000 after buying an additional 205,318 shares during the period. Hedge funds and other institutional investors own 61.72% of the company’s stock.

GeneDx Stock Performance

NASDAQ WGS opened at $77.66 on Friday. The stock has a market cap of $2.13 billion, a P/E ratio of -24.97 and a beta of 2.02. 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 has a twelve month low of $2.85 and a twelve month high of $98.87. The company’s 50-day simple moving average is $77.67 and its 200 day simple moving average is $56.09.

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

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.