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

GeneDx Holdings Corp. (NASDAQ:WGS) has been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $72.33.

WGS has been the subject of a number of research reports. The Goldman Sachs Group lifted their price objective on shares of GeneDx from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. TD Cowen lifted their price target on shares of GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, January 7th.

Insider Buying and Selling at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 2,731 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $94.73, for a total value of $258,707.63. Following the sale, the chief executive officer now owns 7,752 shares in the company, valued at approximately $734,346.96. This trade represents a 26.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevin Feeley sold 922 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $94.72, for a total value of $87,331.84. Following the transaction, the chief financial officer now owns 5,446 shares of the company’s stock, valued at approximately $515,845.12. This represents a 14.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 126,176 shares of company stock worth $11,295,519. 27.30% of the stock is owned by insiders.

Institutional Investors Weigh In On GeneDx

A number of hedge funds and other institutional investors have recently modified their holdings of WGS. Polar Asset Management Partners Inc. bought a new stake in shares of GeneDx in the 4th quarter worth $1,007,000. Palisades Investment Partners LLC acquired a new position in GeneDx during the fourth quarter worth about $6,425,000. Castleark Management LLC acquired a new position in GeneDx during the fourth quarter worth about $4,743,000. PharVision Advisers LLC bought a new stake in GeneDx in the fourth quarter worth about $301,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in GeneDx by 120.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,849 shares of the company’s stock valued at $1,295,000 after acquiring an additional 9,202 shares during the last quarter. 61.72% of the stock is currently owned by institutional investors.

GeneDx Price Performance

Shares of WGS stock opened at $98.47 on Friday. The firm has a market cap of $2.76 billion, a P/E ratio of -50.24 and a beta of 1.90. The firm has a fifty day moving average of $84.60 and a two-hundred day moving average of $69.43. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. GeneDx has a 1-year low of $7.72 and a 1-year high of $115.60.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.66. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. The business had revenue of $95.64 million during the quarter, compared to the consensus estimate of $82.24 million. As a group, research analysts anticipate that GeneDx will post 0.97 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.