Keith A. Meister Buys 100,000 Shares of GeneDx Holdings Corp. (NASDAQ:WGS) Stock

GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) Director Keith A. Meister purchased 100,000 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were acquired at an average cost of $56.01 per share, for a total transaction of $5,601,000.00. Following the acquisition, the director now owns 3,008,629 shares of the company's stock, valued at approximately $168,513,310.29. The trade was a 3.44% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

GeneDx Price Performance

GeneDx stock traded up $4.71 during mid-day trading on Friday, hitting $68.32. The company's stock had a trading volume of 679,093 shares, compared to its average volume of 749,368. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $1.95 billion, a P/E ratio of -34.84 and a beta of 1.96. GeneDx Holdings Corp. has a twelve month low of $19.16 and a twelve month high of $117.75. The stock's fifty day moving average price is $87.48 and its two-hundred day moving average price is $82.72.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.17. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. The firm had revenue of $87.12 million for the quarter, compared to analyst estimates of $79.90 million. Research analysts forecast that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Hedge Funds Weigh In On GeneDx

Several institutional investors and hedge funds have recently added to or reduced their stakes in WGS. MCF Advisors LLC grew its position in GeneDx by 107.7% during the 4th quarter. MCF Advisors LLC now owns 351 shares of the company's stock worth $27,000 after purchasing an additional 182 shares in the last quarter. Sterling Capital Management LLC grew its position in GeneDx by 877.8% during the 4th quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock worth $27,000 after purchasing an additional 316 shares in the last quarter. Global Retirement Partners LLC purchased a new position in GeneDx during the 4th quarter worth approximately $28,000. Lazard Asset Management LLC purchased a new position in GeneDx during the 4th quarter worth approximately $35,000. Finally, GAMMA Investing LLC grew its position in GeneDx by 151.7% during the 1st quarter. GAMMA Investing LLC now owns 438 shares of the company's stock worth $39,000 after purchasing an additional 264 shares in the last quarter. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on WGS. Wells Fargo & Company lowered their price objective on shares of GeneDx from $105.00 to $78.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Jefferies Financial Group upgraded shares of GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price objective on the stock in a research note on Friday, May 9th. TD Securities lowered their price objective on shares of GeneDx from $135.00 to $110.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Guggenheim began coverage on shares of GeneDx in a research note on Thursday. They set a "buy" rating and a $88.00 price objective on the stock. Finally, The Goldman Sachs Group raised their price objective on shares of GeneDx from $70.00 to $80.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $86.75.

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.