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

GeneDx Holdings Corp. (NASDAQ:WGS) has earned a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $59.33.

WGS has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price objective on GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Craig Hallum upped their price target on GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their price objective on shares of GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. TD Cowen upped their target price on shares of GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, BTIG Research lifted their price target on shares of GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 31st.

Insiders Place Their Bets

In other GeneDx news, CEO Katherine Stueland sold 3,639 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $33.33, for a total transaction of $121,287.87. Following the sale, the chief executive officer now directly owns 95,457 shares of the company’s stock, valued at $3,181,581.81. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other GeneDx news, CEO Katherine Stueland sold 3,639 shares of GeneDx stock in a transaction on Monday, September 9th. The shares were sold at an average price of $33.33, for a total transaction of $121,287.87. Following the completion of the transaction, the chief executive officer now directly owns 95,457 shares of the company’s stock, valued at $3,181,581.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of GeneDx stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $75.00, for a total transaction of $64,935,000.00. Following the transaction, the insider now directly owns 2,866,833 shares of the company’s stock, valued at approximately $215,012,475. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,022,635 shares of company stock valued at $70,327,778 in the last three months. Corporate insiders own 27.30% of the company’s stock.

Institutional Investors Weigh In On GeneDx

A number of institutional investors and hedge funds have recently modified their holdings of the business. Oracle Investment Management Inc. lifted its holdings in GeneDx by 531.7% during the 1st quarter. Oracle Investment Management Inc. now owns 1,126,607 shares of the company’s stock valued at $10,286,000 after buying an additional 948,253 shares in the last quarter. Driehaus Capital Management LLC bought a new stake in GeneDx during the 2nd quarter valued at $11,335,000. Assenagon Asset Management S.A. purchased a new stake in shares of GeneDx in the 2nd quarter worth $9,575,000. Divisadero Street Capital Management LP purchased a new stake in GeneDx in the second quarter worth about $5,886,000. Finally, Gagnon Securities LLC lifted its position in shares of GeneDx by 59.3% in the 1st quarter. Gagnon Securities LLC now owns 556,305 shares of the company’s stock worth $5,079,000 after purchasing an additional 207,027 shares during the period. 61.72% of the stock is owned by institutional investors.

GeneDx Price Performance

NASDAQ WGS opened at $77.80 on Friday. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. GeneDx has a 12 month low of $1.16 and a 12 month high of $89.11. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of -25.02 and a beta of 2.11. The company’s 50 day moving average is $51.68 and its two-hundred day moving average is $35.69.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.21) by $0.25. The firm had revenue of $76.90 million for the quarter, compared to the consensus estimate of $64.98 million. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The company’s revenue was up 44.3% on a year-over-year basis. During the same period last year, the firm earned ($0.82) EPS. As a group, research analysts anticipate that GeneDx will post -0.24 earnings per share for the current 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.