Brokerages Set GeneDx Holdings Corp. (NASDAQ:WGS) Price Target at $89.57

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) have earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $89.5714.

A number of analysts recently issued reports on the company. Weiss Ratings upgraded GeneDx from a “sell (e+)” rating to a “sell (d)” rating in a research report on Tuesday, August 4th. TD Cowen reiterated a “buy” rating on shares of GeneDx in a research report on Wednesday, July 15th. BTIG Research reissued a “buy” rating and issued a $90.00 target price on shares of GeneDx in a research note on Tuesday, August 4th. Wall Street Zen upgraded shares of GeneDx from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Guggenheim reaffirmed a “buy” rating and set a $74.00 price target (up from $70.00) on shares of GeneDx in a research note on Monday, June 29th.

Insider Activity at GeneDx

In related news, CFO Kevin Feeley sold 3,728 shares of the business’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $97.61, for a total transaction of $363,890.08. Following the completion of the transaction, the chief financial officer owned 44,945 shares in the company, valued at $4,387,081.45. The trade was a 7.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 company’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $97.61, for a total value of $1,025,002.61. Following the completion of the transaction, the chief executive officer directly owned 115,476 shares in the company, valued at $11,271,612.36. This trade represents a 8.34% 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. Over the last quarter, insiders sold 19,206 shares of company stock worth $1,808,056. Company insiders own 25.17% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in WGS. Ramirez Asset Management Inc. bought a new stake in shares of GeneDx in the fourth quarter valued at about $33,000. Fifth Third Bancorp bought a new position in shares of GeneDx during the first quarter valued at approximately $31,000. Nykredit A S purchased a new position in GeneDx during the second quarter valued at approximately $38,000. OP Asset Management Ltd bought a new position in GeneDx in the first quarter worth approximately $45,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in GeneDx by 3,704.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 837 shares of the company’s stock worth $109,000 after buying an additional 815 shares during the period. 61.72% of the stock is currently owned by institutional investors.

GeneDx Trading Down 7.2%

Shares of NASDAQ WGS opened at $90.80 on Wednesday. GeneDx has a 1-year low of $32.21 and a 1-year high of $170.87. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.30 and a quick ratio of 3.06. The business’s 50 day moving average is $78.97 and its two-hundred day moving average is $67.52. The stock has a market capitalization of $2.71 billion, a P/E ratio of -24.94 and a beta of 1.99.

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

About GeneDx

GeneDx Holdings Corp., doing business as GeneDx, is a healthcare company focused on genetic testing and genomic diagnostics. The company provides testing designed to help healthcare professionals diagnose rare and inherited conditions, guide clinical management, and support research into genetic disease.

Its offerings include whole exome and whole genome sequencing, targeted genetic tests, chromosomal microarray analysis, and other tests used to identify disease-causing genetic variants.