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

GeneDx Holdings Corp. (NASDAQ:WGS) has earned a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $92.33.

A number of brokerages recently issued reports on WGS. TD Securities decreased their price objective on GeneDx from $135.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Piper Sandler began coverage on GeneDx in a report on Wednesday, July 9th. They issued an “overweight” rating and a $110.00 price objective for the company. Jefferies Financial Group raised GeneDx from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a report on Friday, May 9th. Guggenheim reissued a “buy” rating and issued a $115.00 price objective (up from $88.00) on shares of GeneDx in a report on Monday, June 30th. Finally, Wells Fargo & Company decreased their price objective on GeneDx from $105.00 to $78.00 and set an “equal weight” rating for the company in a report on Thursday, May 1st.

GeneDx Trading Down 0.1%

Shares of WGS opened at $80.42 on Friday. The company has a market capitalization of $2.29 billion, a P/E ratio of -57.04 and a beta of 2.01. GeneDx has a one year low of $25.32 and a one year high of $117.75. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.07 and a current ratio of 3.25. The stock has a 50-day moving average price of $75.12 and a 200 day moving average price of $82.78.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.17. GeneDx had a positive return on equity of 10.17% and a negative net margin of 11.69%. The firm had revenue of $87.12 million during the quarter, compared to the consensus estimate of $79.90 million. Sell-side analysts forecast that GeneDx will post 0.97 EPS for the current fiscal year.

Insider Transactions at GeneDx

In related news, CFO Kevin Feeley sold 5,278 shares of the stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $93.00, for a total transaction of $490,854.00. Following the completion of the sale, the chief financial officer directly owned 3,392 shares in the company, valued at approximately $315,456. This trade represents a 60.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Keith A. Meister bought 100,000 shares of the business’s stock in a transaction on Thursday, May 8th. The shares were bought at an average price of $56.01 per share, for a total transaction of $5,601,000.00. Following the completion of the acquisition, the director owned 3,008,629 shares of the company’s stock, valued at approximately $168,513,310.29. This represents a 3.44% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 22,411 shares of company stock valued at $2,104,828 over the last quarter. Company insiders own 29.60% of the company’s stock.

Hedge Funds Weigh In On GeneDx

Institutional investors have recently bought and sold shares of the stock. Sterling Capital Management LLC grew its position in GeneDx by 877.8% during the fourth quarter. Sterling Capital Management LLC now owns 352 shares of the company’s stock worth $27,000 after buying an additional 316 shares in the last quarter. GAMMA Investing LLC boosted its holdings in GeneDx by 151.7% during the first quarter. GAMMA Investing LLC now owns 438 shares of the company’s stock valued at $39,000 after purchasing an additional 264 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in GeneDx during the fourth quarter valued at approximately $35,000. US Bancorp DE boosted its holdings in GeneDx by 3,223.5% during the first quarter. US Bancorp DE now owns 565 shares of the company’s stock valued at $50,000 after purchasing an additional 548 shares in the last quarter. Finally, Comerica Bank acquired a new stake in GeneDx during the fourth quarter valued at approximately $50,000. 61.72% of the stock is currently owned by institutional investors.

About GeneDx

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.