Keith Meister Acquires 500,000 Shares of GeneDx (NASDAQ:WGS) Stock

GeneDx Holdings Corp. (NASDAQ:WGS) Director Keith Meister purchased 500,000 shares of GeneDx stock in a transaction dated Monday, May 11th. The stock was bought at an average cost of $39.29 per share, with a total value of $19,645,000.00. Following the completion of the purchase, the director owned 4,433,297 shares in the company, valued at approximately $174,184,239.13. This trade represents a 12.71% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

GeneDx Trading Down 0.3%

Shares of GeneDx stock opened at $39.49 on Wednesday. The company has a quick ratio of 2.95, a current ratio of 3.09 and a debt-to-equity ratio of 0.38. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -14.74 and a beta of 2.06. The business has a fifty day simple moving average of $66.25 and a 200-day simple moving average of $103.67. GeneDx Holdings Corp. has a fifty-two week low of $32.21 and a fifty-two week high of $170.87.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Monday, May 4th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.22). The firm had revenue of $102.25 million during the quarter, compared to analyst estimates of $112.46 million. GeneDx had a negative net margin of 17.58% and a positive return on equity of 9.15%. During the same quarter last year, the company earned ($0.23) EPS. On average, equities analysts forecast that GeneDx Holdings Corp. will post -1 EPS for the current fiscal year.

Institutional Investors Weigh In On GeneDx

Several hedge funds have recently bought and sold shares of WGS. Westfield Capital Management Co. LP lifted its stake in GeneDx by 87.1% in the 4th quarter. Westfield Capital Management Co. LP now owns 1,018,261 shares of the company’s stock worth $132,435,000 after acquiring an additional 474,167 shares in the last quarter. ARK Investment Management LLC purchased a new stake in GeneDx in the 3rd quarter worth approximately $48,157,000. Franklin Resources Inc. lifted its position in 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 buying an additional 411,607 shares in the last quarter. Invesco Ltd. lifted its position in GeneDx by 59.2% in the 4th quarter. Invesco Ltd. now owns 786,466 shares of the company’s stock worth $102,288,000 after buying an additional 292,394 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. purchased a new stake in GeneDx in the 3rd quarter worth approximately $31,488,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting GeneDx

Here are the key news stories impacting GeneDx this week:

• Positive Sentiment: Director Keith Meister made several large open-market purchases of GeneDx shares, including buys of 171,389, 533,758, and 500,000 shares, signaling insider confidence in the company’s long-term outlook. Article Title
• Neutral Sentiment: Several institutional and analyst updates continue to show mixed but still active interest in WGS, with some firms maintaining buy/overweight ratings despite recent price-target cuts. Article Title
• Negative Sentiment: Pomerantz LLP announced an investigation into GeneDx on behalf of investors, adding to concerns about potential claims tied to the stock’s recent losses. Article Title
• Negative Sentiment: Barrack, Rodos & Bacine also opened a securities-fraud investigation into GeneDx, reinforcing the market’s fear that legal overhang could weigh on shares. Article Title
• Negative Sentiment: The company’s last earnings release disappointed investors, with EPS and revenue both missing expectations, which likely continues to pressure sentiment around WGS. Article Title

Wall Street Analyst Weigh In

Several analysts recently commented on WGS shares. Zacks Research lowered shares of GeneDx from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $75.00 target price (down from $155.00) on shares of GeneDx in a report on Tuesday, May 5th. Guggenheim reduced their target price on GeneDx from $100.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. Jefferies Financial Group set a $150.00 target price on GeneDx in a report on Monday, February 23rd. Finally, Wall Street Zen downgraded shares of GeneDx from a “hold” rating to a “sell” rating in a research report on Saturday. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $96.43.

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.