GeneDx (NASDAQ:WGS) Research Coverage Started at Canaccord Genuity Group

Canaccord Genuity Group assumed coverage on shares of GeneDx (NASDAQ:WGS) in a research report report published on Monday morning, MarketBeat reports. The brokerage issued a buy rating and a $155.00 price objective on the stock.

WGS has been the topic of a number of other research reports. Zacks Research downgraded GeneDx from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of GeneDx in a report on Wednesday, October 8th. Wells Fargo & Company boosted their price objective on GeneDx from $78.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 30th. Wall Street Zen raised shares of GeneDx from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Finally, Guggenheim reiterated a “buy” rating and set a $115.00 target price (up from $88.00) on shares of GeneDx in a research report on Monday, June 30th. Eight analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $112.80.

GeneDx Trading Down 0.6%

Shares of GeneDx stock opened at $121.01 on Monday. The company’s 50-day moving average price is $123.13 and its 200-day moving average price is $97.07. The company has a current ratio of 2.87, a quick ratio of 2.70 and a debt-to-equity ratio of 0.19. GeneDx has a 12-month low of $55.17 and a 12-month high of $136.00. The company has a market cap of $3.48 billion, a price-to-earnings ratio of 2,420.20 and a beta of 1.98.

GeneDx (NASDAQ:WGS) last posted its earnings results on Tuesday, July 29th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.40. GeneDx had a net margin of 0.39% and a return on equity of 16.51%. The business had revenue of $102.69 million for the quarter, compared to analyst estimates of $86.00 million. GeneDx has set its FY 2025 guidance at EPS. On average, equities analysts expect that GeneDx will post 0.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Jason Ryan sold 38,072 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $127.30, for a total transaction of $4,846,565.60. Following the sale, the director owned 103,284 shares in the company, valued at $13,148,053.20. This represents a 26.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Katherine Stueland sold 10,501 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $121.47, for a total transaction of $1,275,556.47. Following the sale, the chief executive officer directly owned 14,578 shares of the company’s stock, valued at $1,770,789.66. This trade represents a 41.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold 556,371 shares of company stock worth $67,489,314 in the last 90 days. 29.60% of the stock is owned by company insiders.

Institutional Trading of GeneDx

A number of institutional investors and hedge funds have recently modified their holdings of WGS. GAMMA Investing LLC raised its stake in shares of GeneDx by 151.7% in the first quarter. GAMMA Investing LLC now owns 438 shares of the company’s stock worth $39,000 after purchasing an additional 264 shares during the last quarter. US Bancorp DE lifted its stake in GeneDx by 3,223.5% during the 1st quarter. US Bancorp DE now owns 565 shares of the company’s stock valued at $50,000 after acquiring an additional 548 shares during the period. AlphaQuest LLC boosted its holdings in shares of GeneDx by 351.5% during the 2nd quarter. AlphaQuest LLC now owns 763 shares of the company’s stock valued at $70,000 after acquiring an additional 594 shares during the last quarter. KBC Group NV bought a new stake in shares of GeneDx in the first quarter worth approximately $81,000. Finally, PNC Financial Services Group Inc. purchased a new position in shares of GeneDx during the first quarter valued at approximately $132,000. Institutional investors own 61.72% of the company’s stock.

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.