GeneDx Holdings Corp. (NASDAQ:WGS) Receives $89.57 Consensus PT from Brokerages

GeneDx Holdings Corp. (NASDAQ:WGS) has earned an average rating of “Moderate Buy” from the nine research firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $89.5714.

Several research analysts have recently commented on WGS shares. Guggenheim reissued a “buy” rating and set a $74.00 price objective (up from $70.00) on shares of GeneDx in a report on Monday, June 29th. Weiss Ratings raised shares of GeneDx from a “sell (e+)” rating to a “sell (d)” rating in a research note on Tuesday, August 4th. Piper Sandler reiterated an “overweight” rating and set a $63.00 target price (up from $50.00) on shares of GeneDx in a research report on Tuesday, June 23rd. TD Cowen reissued a “buy” rating on shares of GeneDx in a research note on Wednesday, July 15th. Finally, Wall Street Zen raised shares of GeneDx from a “sell” rating to a “hold” rating in a report on Saturday, August 8th.

Insider Transactions at GeneDx

In related news, CFO Kevin Feeley sold 3,729 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $60.77, for a total value of $226,611.33. Following the transaction, the chief financial officer owned 39,954 shares of the company’s stock, valued at $2,428,004.58. This represents a 8.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Katherine Stueland sold 10,501 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $60.77, for a total value of $638,145.77. Following the sale, the chief executive officer owned 104,372 shares in the company, valued at $6,342,686.44. The trade was a 9.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 19,135 shares of company stock valued at $1,128,499. Insiders own 25.17% of the company’s stock.

Hedge Funds Weigh In On GeneDx

Several institutional investors have recently modified their holdings of the company. Bank of America Corp DE boosted its stake in GeneDx by 77.5% in the first quarter. Bank of America Corp DE now owns 234,606 shares of the company’s stock worth $15,066,000 after buying an additional 102,456 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of GeneDx by 65.9% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 633,457 shares of the company’s stock worth $40,681,000 after acquiring an additional 251,732 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of GeneDx by 4.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,220,502 shares of the company’s stock worth $158,738,000 after acquiring an additional 52,322 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of GeneDx by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 1,189,069 shares of the company’s stock worth $154,650,000 after acquiring an additional 18,647 shares during the last quarter. Finally, Franklin Resources Inc. lifted 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 worth $142,154,000 after acquiring an additional 411,607 shares during the last quarter. 61.72% of the stock is currently owned by institutional investors.

GeneDx Price Performance

NASDAQ:WGS opened at $85.19 on Friday. GeneDx has a 52-week low of $32.21 and a 52-week high of $170.87. The stock has a fifty day moving average of $68.36 and a 200 day moving average of $66.88. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.06 and a current ratio of 3.30. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of -23.40 and a beta of 1.92.

GeneDx (NASDAQ:WGS) last announced its earnings results on Monday, August 3rd. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.20. GeneDx had a positive return on equity of 4.12% and a negative net margin of 23.41%.The business had revenue of $114.44 million for the quarter, compared to analyst estimates of $111.01 million. During the same period in the prior year, the company earned $0.36 EPS. On average, research analysts expect that GeneDx will post -0.41 EPS for the current fiscal year.

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.