Insider Buying: GeneDx (NASDAQ:WGS) Director Buys 165,000 Shares of Stock

GeneDx Holdings Corp. (NASDAQ:WGS) Director Keith Meister acquired 165,000 shares of the stock in a transaction dated Wednesday, May 13th. The shares were bought at an average cost of $39.09 per share, with a total value of $6,449,850.00. Following the completion of the purchase, the director directly owned 4,598,297 shares in the company, valued at approximately $179,747,429.73. This trade represents a 3.72% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

GeneDx Trading Up 4.9%

Shares of NASDAQ WGS traded up $1.90 during trading on Friday, hitting $40.75. 1,621,837 shares of the company traded hands, compared to its average volume of 1,854,039. GeneDx Holdings Corp. has a 1 year low of $32.21 and a 1 year high of $170.87. The company has a 50-day moving average price of $64.01 and a 200-day moving average price of $102.00. The firm has a market capitalization of $1.21 billion, a P/E ratio of -15.21 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.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Monday, May 4th. The company reported ($0.28) earnings per share (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 firm earned ($0.23) earnings per share. On average, equities analysts predict that GeneDx Holdings Corp. will post -1 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on WGS shares. Weiss Ratings reissued a “sell (d)” rating on shares of GeneDx in a research note on Wednesday, January 21st. Wells Fargo & Company reissued an “overweight” rating and set a $75.00 price objective (down from $155.00) on shares of GeneDx in a research note on Tuesday, May 5th. Canaccord Genuity Group set a $75.00 price objective on shares of GeneDx and gave the company a “buy” rating in a research note on Tuesday, May 5th. Jefferies Financial Group set a $150.00 price objective on shares of GeneDx in a research note on Monday, February 23rd. Finally, BTIG Research reduced their target price on shares of GeneDx from $170.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $96.43.

Hedge Funds Weigh In On GeneDx

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jones Financial Companies Lllp lifted its holdings in shares of GeneDx by 664.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock valued at $25,000 after acquiring an additional 186 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of GeneDx during the 4th quarter valued at $27,000. Fifth Third Bancorp acquired a new position in shares of GeneDx during the 1st quarter valued at $31,000. Quarry LP lifted its holdings in shares of GeneDx by 248.8% during the 3rd quarter. Quarry LP now owns 293 shares of the company’s stock valued at $32,000 after acquiring an additional 209 shares in the last quarter. Finally, Ramirez Asset Management Inc. acquired a new position in shares of GeneDx during the 4th quarter valued at $33,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

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.