GeneDx Holdings Corp. (NASDAQ:WGS) Receives $38.00 Consensus Target Price from Analysts

GeneDx Holdings Corp. (NASDAQ:WGS) has been given a consensus recommendation of “Moderate Buy” by the six brokerages that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $41.67.

WGS has been the subject of a number of analyst reports. The Goldman Sachs Group raised their price objective on GeneDx from $32.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday. Wells Fargo & Company initiated coverage on GeneDx in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $34.00 price objective for the company. BTIG Research raised their price objective on GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Craig Hallum raised their price objective on GeneDx from $43.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, TD Cowen raised their price objective on GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st.

Insider Buying and Selling at GeneDx

In other GeneDx news, CFO Kevin Feeley sold 895 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $33.33, for a total value of $29,830.35. Following the sale, the chief financial officer now directly owns 39,910 shares in the company, valued at $1,330,200.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, major shareholder Opko Health, Inc. sold 50,000 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $34.49, for a total transaction of $1,724,500.00. Following the completion of the sale, the insider now directly owns 2,646,972 shares in the company, valued at $91,294,064.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kevin Feeley sold 895 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $33.33, for a total value of $29,830.35. Following the transaction, the chief financial officer now directly owns 39,910 shares of the company’s stock, valued at $1,330,200.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 593,668 shares of company stock valued at $19,735,488. Company insiders own 28.10% of the company’s stock.

Institutional Trading of GeneDx

Several institutional investors have recently added to or reduced their stakes in WGS. Acadian Asset Management LLC bought a new stake in GeneDx during the second quarter valued at about $34,000. nVerses Capital LLC purchased a new position in shares of GeneDx during the second quarter valued at approximately $50,000. CWM LLC purchased a new position in shares of GeneDx during the third quarter valued at approximately $89,000. SG Americas Securities LLC purchased a new position in shares of GeneDx during the third quarter valued at approximately $198,000. Finally, Thompson Davis & CO. Inc. boosted its position in shares of GeneDx by 20.8% during the first quarter. Thompson Davis & CO. Inc. now owns 24,094 shares of the company’s stock valued at $220,000 after buying an additional 4,150 shares during the period. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

GeneDx Stock Performance

NASDAQ:WGS opened at $60.05 on Wednesday. The stock’s 50-day simple moving average is $40.84 and its 200 day simple moving average is $29.26. The firm has a market capitalization of $1.57 billion, a PE ratio of -11.59 and a beta of 2.32. The company has a quick ratio of 2.22, a current ratio of 2.38 and a debt-to-equity ratio of 0.27. GeneDx has a twelve month low of $1.16 and a twelve month high of $61.96.

GeneDx (NASDAQ:WGS) last released its quarterly earnings data on Tuesday, July 30th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.15. The business had revenue of $70.51 million for the quarter, compared to analyst estimates of $58.90 million. GeneDx had a negative return on equity of 22.71% and a negative net margin of 48.21%. On average, analysts anticipate that GeneDx will post -0.75 EPS 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.