GeneDx Holdings Corp. (NASDAQ:WGS) Receives $96.43 Average PT from Brokerages

GeneDx Holdings Corp. (NASDAQ:WGS) has been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $96.4286.

WGS has been the subject of several analyst reports. Canaccord Genuity Group set a $75.00 target price on GeneDx and gave the company a “buy” rating in a report on Tuesday, May 5th. Piper Sandler reaffirmed an “overweight” rating and set a $130.00 target price (down from $160.00) on shares of GeneDx in a report on Tuesday, February 24th. BTIG Research reduced their target price on GeneDx from $170.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. Wall Street Zen downgraded GeneDx from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Guggenheim reduced their target price on GeneDx from $100.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, May 5th.

GeneDx Trading Up 4.8%

Shares of GeneDx stock opened at $42.69 on Thursday. GeneDx has a fifty-two week low of $32.21 and a fifty-two week high of $170.87. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -15.93 and a beta of 2.06. The company has a quick ratio of 2.95, a current ratio of 3.09 and a debt-to-equity ratio of 0.38. The business has a fifty day simple moving average of $63.22 and a 200-day simple moving average of $101.13.

GeneDx (NASDAQ:WGS) last announced its earnings results on Monday, May 4th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.22). GeneDx had a negative net margin of 17.58% and a positive return on equity of 9.15%. The company had revenue of $102.25 million for the quarter, compared to analysts’ expectations of $112.46 million. During the same period in the prior year, the company earned ($0.23) earnings per share. On average, equities analysts forecast that GeneDx will post -1 EPS for the current fiscal year.

Insider Activity

In related news, CFO Kevin Feeley sold 392 shares of the stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $65.19, for a total value of $25,554.48. Following the completion of the sale, the chief financial officer directly owned 34,942 shares of the company’s stock, valued at approximately $2,277,868.98. This represents a 1.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Keith A. Meister acquired 46,273 shares of GeneDx stock in a transaction that occurred on Friday, May 15th. The stock was acquired at an average cost of $38.91 per share, with a total value of $1,800,482.43. Following the completion of the purchase, the director owned 4,784,570 shares in the company, valued at approximately $186,167,618.70. This represents a 0.98% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders purchased 1,725,941 shares of company stock valued at $74,034,301 and sold 104,028 shares valued at $7,377,165. 29.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On GeneDx

Hedge funds have recently bought and sold shares of the business. ARK Investment Management LLC purchased a new stake in GeneDx in the 3rd quarter worth about $48,157,000. Principal Financial Group Inc. lifted its stake in GeneDx by 340.4% in the 3rd quarter. Principal Financial Group Inc. now owns 59,624 shares of the company’s stock worth $6,424,000 after acquiring an additional 46,085 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in GeneDx by 30.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 381,725 shares of the company’s stock worth $49,647,000 after acquiring an additional 89,470 shares in the last quarter. Telemark Asset Management LLC purchased a new stake in GeneDx in the 3rd quarter worth about $12,929,000. Finally, Impax Asset Management Group plc purchased a new stake in GeneDx in the 3rd quarter worth about $5,387,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

GeneDx Company Profile

GeneDx is a clinical diagnostics company specializing in comprehensive genetic and genomic testing for rare and inherited disorders. The company offers a broad portfolio of assays, including targeted gene panels, whole exome sequencing, whole genome sequencing and chromosomal microarray analysis. GeneDx’s laboratory services support the diagnosis of a wide range of conditions—from rare pediatric diseases and hereditary cancer syndromes to neuromuscular and metabolic disorders—by providing clinicians with detailed variant interpretation and reporting.

Founded in 2000 and based in Gaithersburg, Maryland, GeneDx was established with the aim of accelerating the translation of genomic discoveries into clinical care.