GeneDx Holdings Corp. (NASDAQ:WGS) Director Keith A. Meister Acquires 100,000 Shares

GeneDx Holdings Corp. (NASDAQ:WGS) Director Keith A. Meister acquired 100,000 shares of the company’s stock in a transaction dated Thursday, May 8th. The shares were purchased at an average price of $56.01 per share, for a total transaction of $5,601,000.00. Following the purchase, the director now directly owns 3,008,629 shares of the company’s stock, valued at approximately $168,513,310.29. This trade represents a 3.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

GeneDx Stock Down 2.4%

Shares of NASDAQ:WGS opened at $59.45 on Thursday. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. The company has a fifty day simple moving average of $88.00 and a 200 day simple moving average of $82.67. The firm has a market cap of $1.67 billion, a PE ratio of -30.33 and a beta of 1.96. GeneDx Holdings Corp. has a 12-month low of $19.16 and a 12-month high of $117.75.

GeneDx (NASDAQ:WGS) last released its earnings results on Wednesday, April 30th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.17. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. The company had revenue of $87.12 million for the quarter, compared to the consensus estimate of $79.90 million. On average, equities research analysts anticipate that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in GeneDx by 2.5% during the first quarter. Vanguard Group Inc. now owns 1,031,326 shares of the company’s stock valued at $91,339,000 after purchasing an additional 25,116 shares during the last quarter. Summit Partners Public Asset Management LLC increased its stake in GeneDx by 336.9% during the fourth quarter. Summit Partners Public Asset Management LLC now owns 755,564 shares of the company’s stock valued at $58,073,000 after purchasing an additional 582,619 shares during the last quarter. William Blair Investment Management LLC bought a new stake in GeneDx during the fourth quarter valued at $51,496,000. Lord Abbett & CO. LLC bought a new stake in GeneDx during the fourth quarter valued at $48,458,000. Finally, Fred Alger Management LLC increased its stake in GeneDx by 38.5% during the fourth quarter. Fred Alger Management LLC now owns 546,054 shares of the company’s stock valued at $41,970,000 after purchasing an additional 151,824 shares during the last quarter. Institutional investors own 61.72% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of GeneDx from $105.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. The Goldman Sachs Group lifted their price objective on shares of GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Jefferies Financial Group upgraded shares of GeneDx from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a research note on Friday, May 9th. Finally, TD Securities dropped their price objective on shares of GeneDx from $135.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $86.57.

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.