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

GeneDx Holdings Corp. (NASDAQ:WGS) has been given an average recommendation of “Moderate Buy” by the six brokerages that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $59.33.

A number of analysts have recently issued reports on WGS shares. TD Cowen raised their price target on shares of GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. BTIG Research lifted their target price on GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group upped their price target on GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Craig Hallum raised their price objective on GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company upped their target price 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.

Insider Activity

In other GeneDx news, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $75.00, for a total value of $64,935,000.00. Following the completion of the transaction, the insider now owns 2,866,833 shares of the company’s stock, valued at $215,012,475. This trade represents a 23.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kevin Feeley sold 895 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $33.33, for a total value of $29,830.35. Following the sale, the chief financial officer now directly owns 39,910 shares in the company, valued at $1,330,200.30. This represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 923,024 shares of company stock valued at $66,980,631. 27.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WGS. Acadian Asset Management LLC acquired a new position in GeneDx during the 2nd quarter worth approximately $34,000. nVerses Capital LLC purchased a new stake in shares of GeneDx during the 2nd quarter worth $50,000. CWM LLC acquired a new position in shares of GeneDx during the third quarter worth $89,000. Verition Fund Management LLC grew its stake in shares of GeneDx by 12.9% during the third quarter. Verition Fund Management LLC now owns 25,845 shares of the company’s stock worth $1,097,000 after purchasing an additional 2,945 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in GeneDx by 36.1% in the second quarter. American Century Companies Inc. now owns 17,258 shares of the company’s stock valued at $451,000 after buying an additional 4,573 shares in the last quarter. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

GeneDx Stock Performance

NASDAQ WGS opened at $68.43 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. The stock’s fifty day moving average is $55.94 and its two-hundred day moving average is $37.85. The firm has a market capitalization of $1.88 billion, a P/E ratio of -22.00 and a beta of 2.11. GeneDx has a fifty-two week low of $1.16 and a fifty-two week high of $89.11.

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

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.