GeneDx (NASDAQ:WGS) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of GeneDx (NASDAQ:WGS) from a buy rating to a hold rating in a report released on Saturday.

A number of other equities research analysts have also weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of GeneDx from $78.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 30th. Piper Sandler boosted their price objective on shares of GeneDx from $120.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. Zacks Research downgraded shares of GeneDx from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 2nd. Guggenheim reaffirmed a “buy” rating and issued a $170.00 target price (up from $115.00) on shares of GeneDx in a research report on Wednesday, October 29th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of GeneDx in a research report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $124.22.

GeneDx Price Performance

Shares of NASDAQ:WGS opened at $138.30 on Friday. The company has a 50 day moving average of $124.59 and a 200 day moving average of $99.29. The stock has a market cap of $3.97 billion, a P/E ratio of 1,536.67 and a beta of 2.00. GeneDx has a 12 month low of $55.17 and a 12 month high of $146.00. The company has a current ratio of 2.71, a quick ratio of 2.59 and a debt-to-equity ratio of 0.18.

GeneDx (NASDAQ:WGS) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.21. GeneDx had a net margin of 0.52% and a return on equity of 20.22%. The business had revenue of $116.74 million during the quarter, compared to analysts’ expectations of $104.33 million. GeneDx has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that GeneDx will post 0.97 EPS for the current fiscal year.

Insider Activity

In other GeneDx news, CFO Kevin Feeley sold 388 shares of the stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $136.54, for a total transaction of $52,977.52. Following the completion of the sale, the chief financial officer directly owned 3,757 shares of the company’s stock, valued at $512,980.78. This trade represents a 9.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Casdin Capital, Llc sold 500,000 shares of GeneDx stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $120.90, for a total transaction of $60,450,000.00. Following the transaction, the director directly owned 3,007,164 shares of the company’s stock, valued at $363,566,127.60. The trade was a 14.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 556,375 shares of company stock worth $67,569,247 in the last quarter. 29.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GeneDx

A number of institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. raised its holdings in shares of GeneDx by 25.8% during the 1st quarter. Raymond James Financial Inc. now owns 333,376 shares of the company’s stock worth $29,525,000 after acquiring an additional 68,331 shares during the period. Harbor Capital Advisors Inc. lifted its stake in GeneDx by 150.9% during the second quarter. Harbor Capital Advisors Inc. now owns 39,979 shares of the company’s stock worth $3,690,000 after purchasing an additional 24,042 shares during the last quarter. GAMMA Investing LLC lifted its stake in GeneDx by 151.7% in the first quarter. GAMMA Investing LLC now owns 438 shares of the company’s stock valued at $39,000 after buying an additional 264 shares during the last quarter. MRA Advisory Group purchased a new stake in GeneDx in the second quarter valued at approximately $298,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of GeneDx during the first quarter worth approximately $488,000. 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.