GeneDx (NASDAQ:WGS) Rating Lowered to Hold at Zacks Research

GeneDx (NASDAQ:WGS) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. Piper Sandler upped their price target on shares of GeneDx from $120.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. Weiss Ratings restated a “sell (d)” rating on shares of GeneDx in a research report on Saturday, September 27th. Wells Fargo & Company upped their target price on shares of GeneDx from $78.00 to $95.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 30th. Guggenheim restated a “buy” rating and set a $115.00 target price (up from $88.00) on shares of GeneDx in a research report on Monday, June 30th. Finally, Wall Street Zen upgraded shares of GeneDx from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, GeneDx has a consensus rating of “Moderate Buy” and an average price target of $104.13.

GeneDx Stock Up 0.8%

Shares of NASDAQ WGS opened at $118.26 on Thursday. The firm’s 50-day simple moving average is $118.82 and its 200 day simple moving average is $94.47. The company has a market cap of $3.40 billion, a price-to-earnings ratio of 2,365.20 and a beta of 1.98. The company has a quick ratio of 2.70, a current ratio of 2.87 and a debt-to-equity ratio of 0.19. GeneDx has a 12-month low of $46.62 and a 12-month high of $136.00.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.40. The business had revenue of $102.69 million for the quarter, compared to the consensus estimate of $86.00 million. GeneDx had a net margin of 0.39% and a return on equity of 16.51%. GeneDx has set its FY 2025 guidance at EPS. On average, research analysts expect that GeneDx will post 0.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Casdin Capital, Llc sold 500,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $120.90, for a total value of $60,450,000.00. Following the completion of the sale, the director directly owned 3,007,164 shares of the company’s stock, valued at $363,566,127.60. This represents a 14.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kevin Feeley sold 3,728 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $121.47, for a total value of $452,840.16. Following the sale, the chief financial officer directly owned 8,755 shares of the company’s stock, valued at approximately $1,063,469.85. The trade was a 29.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 564,869 shares of company stock valued at $68,279,628. Insiders own 29.60% of the company’s stock.

Institutional Trading of GeneDx

Several hedge funds have recently bought and sold shares of the stock. William Blair Investment Management LLC raised its holdings in GeneDx by 37.2% during the 2nd quarter. William Blair Investment Management LLC now owns 1,631,402 shares of the company’s stock worth $150,595,000 after buying an additional 442,414 shares during the period. Vanguard Group Inc. raised its holdings in GeneDx by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 1,031,326 shares of the company’s stock worth $91,339,000 after buying an additional 25,116 shares during the period. Westfield Capital Management Co. LP raised its holdings in GeneDx by 164.8% during the 2nd quarter. Westfield Capital Management Co. LP now owns 589,188 shares of the company’s stock worth $54,388,000 after buying an additional 366,711 shares during the period. Zweig DiMenna Associates LLC raised its holdings in GeneDx by 28.2% during the 2nd quarter. Zweig DiMenna Associates LLC now owns 586,100 shares of the company’s stock worth $54,103,000 after buying an additional 129,000 shares during the period. Finally, Fred Alger Management LLC raised its holdings in GeneDx by 2.0% during the 1st quarter. Fred Alger Management LLC now owns 557,018 shares of the company’s stock worth $49,332,000 after buying an additional 10,964 shares during the period. 61.72% of the stock is currently owned by institutional investors and hedge funds.

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.