Analysts Set GeneDx Holdings Corp. (NASDAQ:WGS) Price Target at $86.75

Shares of GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) have earned a consensus rating of "Moderate Buy" from the eight brokerages that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $86.75.

WGS has been the topic of several analyst reports. Guggenheim assumed coverage on GeneDx in a report on Thursday, May 15th. They issued a "buy" rating and a $88.00 target price on the stock. The Goldman Sachs Group upped their price target on shares of GeneDx from $70.00 to $80.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. TD Securities decreased their target price on shares of GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a report 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 target on the stock in a report on Friday, May 9th. Finally, Wells Fargo & Company decreased their price objective on shares of GeneDx from $105.00 to $78.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st.

GeneDx Stock Up 1.0%

Shares of GeneDx stock traded up $0.73 during trading on Thursday, hitting $70.71. The company's stock had a trading volume of 626,360 shares, compared to its average volume of 770,241. GeneDx has a 52 week low of $19.54 and a 52 week high of $117.75. The company has a market capitalization of $2.02 billion, a PE ratio of -36.08 and a beta of 1.96. The company has a fifty day simple moving average of $81.79 and a two-hundred day simple moving average of $82.13. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40.

GeneDx (NASDAQ:WGS - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.11 by $0.17. The business had revenue of $87.12 million during the quarter, compared to the consensus estimate of $79.90 million. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. Equities research analysts predict that GeneDx will post 0.97 earnings per share for the current year.

Insider Transactions at GeneDx

In other news, CEO Katherine Stueland sold 2,731 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $94.73, for a total value of $258,707.63. Following the transaction, the chief executive officer now directly owns 7,752 shares in the company, valued at $734,346.96. This trade represents a 26.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Keith A. Meister acquired 100,000 shares of GeneDx stock in a transaction that occurred on Thursday, May 8th. The shares were purchased at an average price of $56.01 per share, with a total value of $5,601,000.00. Following the transaction, the director now owns 3,008,629 shares of the company's stock, valued at $168,513,310.29. The trade was a 3.44% increase in their position. The disclosure for this purchase can be found here. Insiders sold 139,390 shares of company stock worth $13,043,288 over the last three months. 29.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On GeneDx

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in GeneDx by 2.5% during the first quarter. Vanguard Group Inc. now owns 1,031,326 shares of the company's stock valued at $91,339,000 after buying an additional 25,116 shares during the last quarter. Summit Partners Public Asset Management LLC grew its position 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 acquiring an additional 582,619 shares during the period. William Blair Investment Management LLC purchased a new stake in shares of GeneDx in the 4th quarter worth $51,496,000. Lord Abbett & CO. LLC bought a new position in GeneDx in the 4th quarter worth $48,458,000. Finally, Fred Alger Management LLC raised its holdings in GeneDx by 2.0% in the 1st quarter. Fred Alger Management LLC now owns 557,018 shares of the company's stock worth $49,332,000 after purchasing an additional 10,964 shares during the period. Institutional investors own 61.72% of the company's stock.

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.