GeneDx Holdings Corp. (NASDAQ:WGS) Stock Has Average Target Price of $90.86

Key Points

• Analysts remain moderately bullish: GeneDx has a consensus “Moderate Buy” rating from nine analysts, with an average 12-month price target of $90.86 versus the stock’s $67.33 opening price.
• Insiders sold shares: The CEO and CFO sold a combined 14,229 shares at an average price of $97.61 to cover tax obligations tied to vested equity awards. Insiders own 25.17% of the company, while institutional investors own 61.72%.
• Quarterly results beat expectations: GeneDx reported $0.01 in quarterly EPS, exceeding the consensus estimate of a $0.19 loss, and generated $114.44 million in revenue versus the $111.01 million estimate. However, the company remains unprofitable, with a negative net margin of 23.41%.

Shares of GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) have been given an average rating of "Moderate Buy" by the nine analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $90.86.

A number of analysts have recently weighed in on the stock. BTIG Research reaffirmed a "buy" rating and issued a $90.00 price target on shares of GeneDx in a research note on Tuesday, August 4th. Weiss Ratings upgraded shares of GeneDx from a "sell (e+)" rating to a "sell (d)" rating in a research note on Tuesday, August 4th. Piper Sandler reissued an "overweight" rating and set a $63.00 target price (up from $50.00) on shares of GeneDx in a report on Tuesday, June 23rd. Canaccord Genuity Group upped their target price on GeneDx from $75.00 to $90.00 and gave the stock a "buy" rating in a research report on Tuesday, August 4th. Finally, Guggenheim increased their price target on GeneDx from $74.00 to $83.00 and gave the company a "buy" rating in a research note on Thursday, October 1st.

Insider Buying and Selling at GeneDx

In related news, CFO Kevin Feeley sold 3,728 shares of GeneDx stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $97.61, for a total transaction of $363,890.08. Following the transaction, the chief financial officer directly owned 44,945 shares of the company's stock, valued at $4,387,081.45. The trade was a 7.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Katherine Stueland sold 10,501 shares of the business's stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $97.61, for a total transaction of $1,025,002.61. Following the completion of the sale, the chief executive officer owned 115,476 shares in the company, valued at approximately $11,271,612.36. This trade represents a 8.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 19,206 shares of company stock valued at $1,808,056. Insiders own 25.17% of the company's stock.

Hedge Funds Weigh In On GeneDx

Large investors have recently made changes to their positions in the business. Strs Ohio increased its holdings in GeneDx by 8.7% in the first quarter. Strs Ohio now owns 2,500 shares of the company's stock worth $161,000 after buying an additional 200 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in GeneDx by 12.9% in the first quarter. Pictet Asset Management Holding SA now owns 3,300 shares of the company's stock valued at $212,000 after acquiring an additional 378 shares during the last quarter. Swiss National Bank lifted its stake in GeneDx by 1.0% in the first quarter. Swiss National Bank now owns 40,000 shares of the company's stock valued at $2,569,000 after acquiring an additional 400 shares during the last quarter. Fifth Third Bancorp bought a new stake in GeneDx in the first quarter worth approximately $31,000. Finally, Keebeck Wealth Management grew its position in GeneDx by 13.5% in the first quarter. Keebeck Wealth Management now owns 4,310 shares of the company's stock worth $277,000 after acquiring an additional 513 shares in the last quarter. Institutional investors own 61.72% of the company's stock.

GeneDx Price Performance

Shares of WGS opened at $67.33 on Friday. GeneDx has a one year low of $32.21 and a one year high of $170.87. The stock's fifty day moving average is $82.43 and its 200-day moving average is $67.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.06 and a current ratio of 3.30. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of -18.50 and a beta of 1.95.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.20. The business had revenue of $114.44 million during the quarter, compared to the consensus estimate of $111.01 million. GeneDx had a negative net margin of 23.41% and a positive return on equity of 4.12%. During the same quarter in the prior year, the company posted $0.36 earnings per share. Equities analysts anticipate that GeneDx will post -0.41 EPS for the current year.

GeneDx Company Profile

GeneDx NASDAQ: WGS is a precision health company that provides genetic testing and related data services. The company focuses on helping healthcare professionals identify genetic conditions, support diagnosis and treatment decisions, and better understand inherited disease.

Its offerings include exome and genome sequencing, testing for rare and undiagnosed disorders, hereditary cancer testing, and other genetic analyses. GeneDx also provides clinical interpretation and reporting intended to help physicians evaluate genetic results in the context of a patient's symptoms and family history.

Founded in 2000, GeneDx has built a business around genomic testing for patients with rare diseases and other inherited conditions.

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