GeneDx Holdings Corp. (NASDAQ:WGS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) have been assigned an average rating of “Moderate Buy” from the eight analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $96.4286.

Several brokerages have issued reports on WGS. Zacks Research cut shares of GeneDx from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. Piper Sandler restated 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. BTIG Research lowered their target price on shares of GeneDx from $170.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Jefferies Financial Group set a $150.00 price target on shares of GeneDx in a research note 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, May 9th.

GeneDx Price Performance

GeneDx stock opened at $59.92 on Monday. The stock has a 50 day moving average of $54.95 and a two-hundred day moving average of $89.70. GeneDx has a twelve month low of $32.21 and a twelve month high of $170.87. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of -22.36 and a beta of 1.96. The company has a current ratio of 3.09, a quick ratio of 2.95 and a debt-to-equity ratio of 0.38.

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

Insider Activity at GeneDx

In other GeneDx news, Director Keith A. Meister acquired 533,758 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The shares were purchased at an average price of $37.86 per share, with a total value of $20,208,077.88. Following the completion of the acquisition, the director directly owned 3,761,908 shares of the company’s stock, valued at approximately $142,425,836.88. The trade was a 16.53% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Casdin Capital, Llc acquired 185,000 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was acquired at an average price of $42.60 per share, with a total value of $7,881,000.00. Following the transaction, the director directly owned 3,367,164 shares of the company’s stock, valued at $143,441,186.40. This represents a 5.81% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have acquired 2,256,420 shares of company stock worth $93,144,340 and have sold 54,402 shares worth $3,395,647. Insiders own 29.60% of the company’s stock.

Hedge Funds Weigh In On GeneDx

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp lifted its stake in shares of GeneDx by 664.3% in the third quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock valued at $25,000 after purchasing an additional 186 shares during the period. Kestra Advisory Services LLC acquired a new position in GeneDx during the fourth quarter worth about $27,000. Fifth Third Bancorp purchased a new position in GeneDx in the first quarter valued at about $31,000. Quarry LP lifted its position in shares of GeneDx by 248.8% during the 3rd 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. Finally, Ramirez Asset Management Inc. acquired a new stake in shares of GeneDx during the 4th quarter valued at approximately $33,000. 61.72% of the stock is owned by institutional investors and hedge funds.

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.