Keith Meister Acquires 29,495 Shares of GeneDx (NASDAQ:WGS) Stock

GeneDx Holdings Corp. (NASDAQ:WGS) Director Keith Meister purchased 29,495 shares of the stock in a transaction on Tuesday, March 3rd. The shares were purchased at an average price of $70.89 per share, with a total value of $2,090,900.55. Following the acquisition, the director owned 3,088,124 shares in the company, valued at approximately $218,917,110.36. The trade was a 0.96% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

GeneDx Trading Up 3.2%

WGS traded up $2.53 during trading on Thursday, hitting $82.00. The company’s stock had a trading volume of 921,499 shares, compared to its average volume of 755,205. The stock’s fifty day moving average price is $101.71 and its 200-day moving average price is $122.42. GeneDx Holdings Corp. has a twelve month low of $55.17 and a twelve month high of $170.87. The firm has a market capitalization of $2.40 billion, a P/E ratio of -109.33 and a beta of 2.03. The company has a quick ratio of 2.34, a current ratio of 2.46 and a debt-to-equity ratio of 0.16.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings data on Monday, February 23rd. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. GeneDx had a negative net margin of 4.92% and a positive return on equity of 14.73%. The business had revenue of $120.99 million during the quarter, compared to the consensus estimate of $120.80 million. Analysts anticipate that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Institutional Trading of GeneDx

Several hedge funds have recently modified their holdings of the company. Westfield Capital Management Co. LP grew its stake in shares of GeneDx by 87.1% in the 4th quarter. Westfield Capital Management Co. LP now owns 1,018,261 shares of the company’s stock worth $132,435,000 after buying an additional 474,167 shares in the last quarter. ARK Investment Management LLC bought a new stake in shares of GeneDx in the third quarter valued at about $48,157,000. Franklin Resources Inc. raised its holdings in shares of GeneDx by 60.4% in the 4th quarter. Franklin Resources Inc. now owns 1,092,988 shares of the company’s stock valued at $142,154,000 after purchasing an additional 411,607 shares in the last quarter. Invesco Ltd. raised its stake in GeneDx by 59.2% in the fourth quarter. Invesco Ltd. now owns 786,466 shares of the company’s stock worth $102,288,000 after buying an additional 292,394 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of GeneDx during the 3rd quarter worth $31,488,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Piper Sandler reissued an “overweight” rating and set a $130.00 price target (down from $160.00) on shares of GeneDx in a research report on Tuesday, February 24th. Wall Street Zen downgraded shares of GeneDx from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Zacks Research upgraded shares of GeneDx from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 25th. Wells Fargo & Company raised GeneDx from an “equal weight” rating to an “overweight” rating and set a $155.00 price objective for the company in a research report on Monday, February 9th. Finally, BTIG Research decreased their price target on shares of GeneDx from $200.00 to $170.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, GeneDx presently has a consensus rating of “Moderate Buy” and an average price target of $150.71.

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.