GeneDx (NASDAQ:WGS) Lowered to Hold Rating by Wall Street Zen

GeneDx (NASDAQ:WGS) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Sunday.

Several other research analysts have also commented on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of GeneDx in a research note on Wednesday, January 21st. Guggenheim reaffirmed a “buy” rating and issued a $170.00 price target (up from $115.00) on shares of GeneDx in a report on Wednesday, October 29th. BTIG Research increased their price objective on GeneDx from $165.00 to $200.00 and gave the company a “buy” rating in a report on Friday, December 12th. Wells Fargo & Company set a $155.00 price objective on GeneDx and gave the stock an “equal weight” rating in a research report on Monday, December 15th. Finally, Canaccord Genuity Group upped their target price on GeneDx from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, December 22nd. Six 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $138.13.

GeneDx Price Performance

WGS opened at $84.29 on Friday. The firm has a market capitalization of $2.44 billion, a PE ratio of 936.56 and a beta of 2.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.71 and a quick ratio of 2.59. The business’s 50-day moving average is $126.14 and its two-hundred day moving average is $124.92. GeneDx has a 1 year low of $55.17 and a 1 year high of $170.87.

Insider Transactions at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 10,857 shares of GeneDx stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $143.89, for a total transaction of $1,562,213.73. Following the completion of the sale, the chief executive officer owned 14,237 shares of the company’s stock, valued at approximately $2,048,561.93. The trade was a 43.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kevin Feeley sold 3,855 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $143.87, for a total value of $554,618.85. Following the sale, the chief financial officer owned 8,731 shares in the company, valued at approximately $1,256,128.97. The trade was a 30.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 68,961 shares of company stock worth $10,027,891. Insiders own 29.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. ARK Investment Management LLC acquired a new stake in GeneDx during the 3rd quarter worth about $48,157,000. William Blair Investment Management LLC boosted its stake in shares of GeneDx by 37.2% in the second quarter. William Blair Investment Management LLC now owns 1,631,402 shares of the company’s stock worth $150,595,000 after buying an additional 442,414 shares during the last quarter. Jennison Associates LLC grew its holdings in GeneDx by 6,163.1% during the second quarter. Jennison Associates LLC now owns 397,896 shares of the company’s stock worth $36,730,000 after acquiring an additional 391,543 shares during the period. Westfield Capital Management Co. LP raised its position in GeneDx by 164.8% during the second quarter. Westfield Capital Management Co. LP now owns 589,188 shares of the company’s stock valued at $54,388,000 after acquiring an additional 366,711 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in GeneDx by 101.9% in the third quarter. Franklin Resources Inc. now owns 681,381 shares of the company’s stock valued at $73,412,000 after acquiring an additional 343,954 shares during the period. 61.72% of the stock is currently 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.