GeneDx Holdings Corp. (NASDAQ:WGS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) have been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $72.33.

A number of research analysts have issued reports on the company. The Goldman Sachs Group upped their price objective on GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. TD Cowen upped their price objective on GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th.

GeneDx Trading Up 7.3 %

Shares of GeneDx stock opened at $97.44 on Friday. The stock has a fifty day simple moving average of $84.59 and a 200 day simple moving average of $70.97. GeneDx has a 12-month low of $8.03 and a 12-month high of $115.60. The company has a market capitalization of $2.73 billion, a P/E ratio of -49.71 and a beta of 1.91. 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 (NASDAQ:WGS) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.66. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. The business had revenue of $95.64 million during the quarter, compared to the consensus estimate of $82.24 million. On average, sell-side analysts anticipate that GeneDx will post 0.97 earnings per share for the current fiscal year.

Insider Transactions at GeneDx

In related news, CFO Kevin Feeley sold 402 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $90.05, for a total transaction of $36,200.10. Following the sale, the chief financial officer now owns 5,044 shares of the company’s stock, valued at approximately $454,212.20. This represents a 7.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Katherine Stueland sold 10,559 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $96.71, for a total value of $1,021,160.89. Following the sale, the chief executive officer now directly owns 14,865 shares in the company, valued at $1,437,594.15. This trade represents a 41.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 127,735 shares of company stock worth $11,719,787. 27.30% of the stock is owned by company insiders.

Institutional Trading of GeneDx

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of GeneDx by 18.5% in the 4th quarter. Vanguard Group Inc. now owns 1,006,210 shares of the company’s stock valued at $77,337,000 after acquiring an additional 156,768 shares in the last quarter. Summit Partners Public Asset Management LLC raised its holdings in shares of GeneDx by 336.9% during the 4th quarter. Summit Partners Public Asset Management LLC now owns 755,564 shares of the company’s stock valued at $58,073,000 after buying an additional 582,619 shares in the last quarter. William Blair Investment Management LLC purchased a new position in shares of GeneDx during the 4th quarter valued at about $51,496,000. Lord Abbett & CO. LLC purchased a new position in shares of GeneDx during the 4th quarter valued at about $48,458,000. Finally, Fred Alger Management LLC raised its holdings in shares of GeneDx by 38.5% during the 4th quarter. Fred Alger Management LLC now owns 546,054 shares of the company’s stock valued at $41,970,000 after buying an additional 151,824 shares in the last quarter. Hedge funds and other 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.