GeneDx (NASDAQ:WGS) Director Keith Meister Buys 140,026 Shares

GeneDx Holdings Corp. (NASDAQ:WGS) Director Keith Meister acquired 140,026 shares of the stock in a transaction dated Thursday, March 5th. The shares were acquired at an average cost of $81.19 per share, with a total value of $11,368,710.94. Following the completion of the transaction, the director owned 3,228,150 shares in the company, valued at approximately $262,093,498.50. This represents a 4.53% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

GeneDx Stock Up 3.2%

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

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

Institutional Trading of GeneDx

Large investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp lifted its holdings in GeneDx by 664.3% in the third quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock worth $25,000 after purchasing an additional 186 shares during the period. Kestra Advisory Services LLC bought a new position in shares of GeneDx in the fourth quarter valued at approximately $27,000. Quarry LP increased its stake in shares of GeneDx by 248.8% during the third quarter. Quarry LP now owns 293 shares of the company’s stock valued at $32,000 after acquiring an additional 209 shares during the period. Ramirez Asset Management Inc. bought a new position in GeneDx during the 4th quarter valued at $33,000. Finally, Greenline Wealth Management LLC acquired a new position in shares of GeneDx during the 4th quarter valued at $33,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on WGS. BTIG Research cut their price target on GeneDx from $200.00 to $170.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Piper Sandler reissued an “overweight” rating and issued a $130.00 target price (down from $160.00) on shares of GeneDx in a research note on Tuesday, February 24th. Weiss Ratings reiterated a “sell (d)” rating on shares of GeneDx in a report on Wednesday, January 21st. Wells Fargo & Company upgraded shares of GeneDx from an “equal weight” rating to an “overweight” rating and set a $155.00 price target on the stock in a report on Monday, February 9th. Finally, Zacks Research upgraded GeneDx from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $150.71.

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.