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

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) have been given a consensus rating of “Moderate Buy” by the six brokerages that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $38.00.

A number of analysts have recently commented on the company. Jefferies Financial Group started coverage on GeneDx in a research note on Monday, June 3rd. They issued a “hold” rating and a $21.00 price objective on the stock. Craig Hallum boosted their price target on shares of GeneDx from $43.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company began coverage on shares of GeneDx in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $34.00 price objective for the company. BTIG Research boosted their target price on shares of GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group increased their target price on shares of GeneDx from $28.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st.

Insider Transactions at GeneDx

In other GeneDx news, major shareholder Opko Health, Inc. sold 50,000 shares of GeneDx stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $26.63, for a total transaction of $1,331,500.00. Following the transaction, the insider now owns 3,508,603 shares of the company’s stock, valued at approximately $93,434,097.89. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Katherine Stueland sold 2,154 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $33.54, for a total transaction of $72,245.16. Following the completion of the sale, the chief executive officer now directly owns 92,550 shares in the company, valued at $3,104,127. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Opko Health, Inc. sold 50,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $26.63, for a total value of $1,331,500.00. Following the completion of the transaction, the insider now owns 3,508,603 shares in the company, valued at approximately $93,434,097.89. The disclosure for this sale can be found here. Insiders sold a total of 743,868 shares of company stock valued at $24,114,996 over the last quarter. Company insiders own 28.10% of the company’s stock.

Institutional Investors Weigh In On GeneDx

Several institutional investors have recently made changes to their positions in WGS. Acadian Asset Management LLC acquired a new stake in shares of GeneDx in the 2nd quarter valued at $34,000. nVerses Capital LLC bought a new position in GeneDx during the second quarter valued at about $50,000. Thompson Davis & CO. Inc. lifted its position in shares of GeneDx by 20.8% in the first quarter. Thompson Davis & CO. Inc. now owns 24,094 shares of the company’s stock worth $220,000 after buying an additional 4,150 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of GeneDx by 36.1% during the 2nd quarter. American Century Companies Inc. now owns 17,258 shares of the company’s stock worth $451,000 after acquiring an additional 4,573 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of GeneDx during the 2nd quarter valued at about $290,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

GeneDx Stock Performance

WGS stock opened at $40.40 on Friday. The company has a market capitalization of $1.06 billion, a P/E ratio of -7.80 and a beta of 2.29. The company has a quick ratio of 2.22, a current ratio of 2.38 and a debt-to-equity ratio of 0.27. The company has a 50-day simple moving average of $33.49 and a 200 day simple moving average of $23.38. GeneDx has a fifty-two week low of $1.16 and a fifty-two week high of $43.32.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings data on Tuesday, July 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.15. GeneDx had a negative net margin of 48.21% and a negative return on equity of 22.71%. The business had revenue of $70.51 million during the quarter, compared to analysts’ expectations of $58.90 million. Sell-side analysts predict that GeneDx will post -0.75 earnings per share for the current fiscal year.

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.