GeneDx Holdings Corp. (NASDAQ:WGS) Receives $96.43 Average Price Target from Analysts

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) have received an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $96.4286.

Several equities analysts recently issued reports on the company. Piper Sandler reissued an “overweight” rating and issued a $130.00 target price (down from $160.00) on shares of GeneDx in a research report on Tuesday, February 24th. Craig Hallum reissued a “buy” rating and issued a $85.00 target price on shares of GeneDx in a research report on Tuesday, May 5th. Weiss Ratings raised GeneDx from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 15th. Wall Street Zen downgraded GeneDx from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Guggenheim cut their target price on GeneDx from $100.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th.

GeneDx Price Performance

NASDAQ WGS opened at $44.73 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.09 and a quick ratio of 2.95. The stock’s fifty day moving average price is $61.30 and its 200 day moving average price is $99.89. GeneDx has a 1 year low of $32.21 and a 1 year high of $170.87. The company has a market cap of $1.33 billion, a price-to-earnings ratio of -16.69 and a beta of 2.06.

GeneDx (NASDAQ:WGS) last released its earnings results 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 firm had revenue of $102.25 million during the quarter, compared to analyst estimates of $112.46 million. During the same period in the previous year, the company earned ($0.23) earnings per share. As a group, equities research analysts forecast that GeneDx will post -1 earnings per share for the current year.

Insider Buying and Selling at GeneDx

In other GeneDx news, Director Casdin Capital, Llc purchased 140,000 shares of the stock in a transaction on Wednesday, May 20th. The shares were bought at an average cost of $43.81 per share, with a total value of $6,133,400.00. Following the completion of the acquisition, the director owned 3,507,164 shares in the company, valued at $153,648,854.84. This trade represents a 4.16% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Keith A. Meister purchased 46,273 shares of the stock in a transaction on Friday, May 15th. The stock was acquired at an average cost of $38.91 per share, for a total transaction of $1,800,482.43. Following the completion of the acquisition, the director owned 4,784,570 shares of the company’s stock, valued at $186,167,618.70. The trade was 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 have acquired 2,225,941 shares of company stock valued at $95,494,951 and have sold 104,028 shares valued at $7,377,165. 29.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On GeneDx

Several hedge funds have recently modified their holdings of WGS. Jones Financial Companies Lllp boosted its stake in shares of GeneDx by 664.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock worth $25,000 after acquiring an additional 186 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in GeneDx in the 4th quarter worth approximately $27,000. Fifth Third Bancorp purchased a new position in GeneDx in the 1st quarter worth approximately $31,000. Quarry LP lifted its stake in GeneDx by 248.8% in the 3rd quarter. Quarry LP now owns 293 shares of the company’s stock worth $32,000 after purchasing an additional 209 shares in the last quarter. Finally, Ramirez Asset Management Inc. purchased a new stake in shares of GeneDx during the 4th quarter valued at approximately $33,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

About GeneDx

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.