Insider Buying: GeneDx (NASDAQ:WGS) Director Buys $1,800,482.43 in Stock

GeneDx Holdings Corp. (NASDAQ:WGS) Director Keith Meister purchased 46,273 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was bought at an average cost of $38.91 per share, for a total transaction of $1,800,482.43. Following the completion of the purchase, the director directly 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. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

GeneDx Stock Performance

NASDAQ WGS opened at $40.75 on Monday. GeneDx Holdings Corp. has a 1-year low of $32.21 and a 1-year high of $170.87. The company has a current ratio of 3.09, a quick ratio of 2.95 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $1.21 billion, a PE ratio of -15.21 and a beta of 2.06. The firm’s fifty day simple moving average is $64.01 and its 200-day simple moving average is $101.80.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings results on Monday, May 4th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.22). GeneDx had a positive return on equity of 9.15% and a negative net margin of 17.58%.The company had revenue of $102.25 million during the quarter, compared to analyst estimates of $112.46 million. During the same period last year, the company posted ($0.23) earnings per share. As a group, sell-side analysts anticipate that GeneDx Holdings Corp. will post -1 earnings per share for the current fiscal year.

Key Headlines Impacting GeneDx

Here are the key news stories impacting GeneDx this week:

• Positive Sentiment: Director Keith A. Meister kept buying shares, including 165,000 shares on May 13, 140,000 shares on May 14, and 46,273 shares on May 15, signaling strong insider confidence in GeneDx’s outlook and helping support the stock. Insider trade filing
• Neutral Sentiment: GeneDx received an average brokerage recommendation of “Moderate Buy,” suggesting Wall Street still sees upside despite the recent volatility. Brokerage recommendation article
• Negative Sentiment: A legal update from Pomerantz LLP said it is investigating claims on behalf of GeneDx investors, adding overhang from possible shareholder litigation after the company’s recent results. Pomerantz investigation article
• Negative Sentiment: Another law firm, Levi & Korsinsky, announced a securities investigation tied to GeneDx’s Q1 revenue miss and reduced full-year guidance, reinforcing concerns that the post-earnings selloff may not be over. Levi & Korsinsky investigation article
• Negative Sentiment: An analyst note cut GeneDx’s price target sharply to $98.94, highlighting a more cautious view after the company’s disappointing quarter. Price target cut article

Hedge Funds Weigh In On GeneDx

Several hedge funds have recently bought and sold shares of WGS. Arizona State Retirement System boosted its holdings in GeneDx by 2.1% during the fourth quarter. Arizona State Retirement System now owns 5,594 shares of the company’s stock valued at $728,000 after acquiring an additional 113 shares during the period. Cerity Partners LLC boosted its holdings in GeneDx by 6.0% during the fourth quarter. Cerity Partners LLC now owns 2,527 shares of the company’s stock valued at $329,000 after acquiring an additional 142 shares during the period. Main Management ETF Advisors LLC boosted its holdings in GeneDx by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 15,660 shares of the company’s stock valued at $2,037,000 after acquiring an additional 160 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in GeneDx by 5.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,702 shares of the company’s stock valued at $399,000 after acquiring an additional 181 shares during the period. Finally, Jones Financial Companies Lllp boosted its holdings in GeneDx by 664.3% during the third quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock valued at $25,000 after acquiring an additional 186 shares during the period. 61.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on WGS shares. Wells Fargo & Company reissued an “overweight” rating and set a $75.00 target price (down from $155.00) on shares of GeneDx in a research report on Tuesday, May 5th. Wall Street Zen downgraded shares of GeneDx from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Zacks Research downgraded shares of GeneDx from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. Guggenheim lowered their target price on shares of GeneDx from $100.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Finally, Piper Sandler reissued an “overweight” rating and set a $130.00 target price (down from $160.00) on shares of GeneDx in a research report on Tuesday, February 24th. Six 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.