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

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) have been given a consensus recommendation of “Moderate Buy” by the seven research firms that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $78.14.

A number of equities analysts have commented on WGS shares. Wells Fargo & Company reduced their price target on shares of GeneDx from $105.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Thursday. TD Securities reduced their target price on GeneDx from $135.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday. The Goldman Sachs Group lifted their price objective on GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Finally, TD Cowen increased their target price on GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th.

Insiders Place Their Bets

In other GeneDx news, CEO Katherine Stueland sold 10,559 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $96.71, for a total value of $1,021,160.89. Following the completion of the sale, the chief executive officer now owns 14,865 shares of the company’s stock, valued at approximately $1,437,594.15. This represents a 41.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin Feeley sold 388 shares of GeneDx stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $113.09, for a total transaction of $43,878.92. Following the transaction, the chief financial officer now directly owns 3,337 shares in the company, valued at approximately $377,381.33. This represents a 10.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 139,390 shares of company stock valued at $13,043,288. 27.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC lifted its holdings in shares of GeneDx by 346.3% during the 3rd quarter. Barclays PLC now owns 18,921 shares of the company’s stock valued at $803,000 after purchasing an additional 14,681 shares in the last quarter. Prudential Financial Inc. bought a new position in GeneDx in the fourth quarter valued at approximately $7,938,000. JPMorgan Chase & Co. boosted its holdings in shares of GeneDx by 617.3% in the third quarter. JPMorgan Chase & Co. now owns 52,161 shares of the company’s stock valued at $2,214,000 after buying an additional 44,889 shares during the period. Principal Financial Group Inc. bought a new stake in shares of GeneDx during the third quarter worth $604,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of GeneDx during the fourth quarter worth $20,371,000. 61.72% of the stock is currently owned by institutional investors.

GeneDx Stock Up 7.9 %

NASDAQ WGS opened at $67.23 on Friday. GeneDx has a 1-year low of $18.80 and a 1-year high of $117.75. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. The stock’s 50 day moving average is $94.30 and its two-hundred day moving average is $82.72. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of -34.30 and a beta of 1.93.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.17. The firm had revenue of $87.12 million for the quarter, compared to analysts’ expectations of $79.90 million. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. Equities analysts forecast that GeneDx will post 0.97 earnings per share for the current fiscal year.

GeneDx Company Profile

GeneDx Holdings Corp., through its subsidiaries, provides genomics-related diagnostic and information services. The company offers Centrellis, an AI-driven health intelligence platform that integrates digital tools and artificial intelligence allowing scientists to ingest and synthesize clinical and genomic data to deliver comprehensive health insights.