GeneDx Holdings Corp. (NASDAQ:WGS) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• GeneDx Holdings Corp. (NASDAQ:WGS) has received a consensus rating of "Moderate Buy" from eight brokerages, with six analysts issuing buy recommendations and two holding recommendations.
• The average price target among analysts is $101.63, and the stock recently opened at $110.54, reflecting a strong performance.
• GeneDx reported earnings of $0.50 per share, significantly surpassing the consensus estimate of $0.10, along with revenue of $102.69 million for the quarter.

GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) has been given a consensus rating of "Moderate Buy" by the eight research firms that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $101.6250.

A number of research firms have commented on WGS. Wall Street Zen raised shares of GeneDx from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Wells Fargo & Company lifted their price objective on shares of GeneDx from $78.00 to $95.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Guggenheim reaffirmed a "buy" rating and issued a $115.00 price objective (up previously from $88.00) on shares of GeneDx in a report on Monday, June 30th. Jefferies Financial Group raised shares of GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price objective for the company in a report on Friday, May 9th. Finally, TD Securities decreased their price objective 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.

GeneDx Stock Up 5.3%

Shares of WGS stock traded up $5.87 during mid-day trading on Tuesday, reaching $116.41. 660,074 shares of the company were exchanged, compared to its average volume of 967,197. GeneDx has a fifty-two week low of $28.86 and a fifty-two week high of $117.75. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.70 and a current ratio of 2.87. The company has a market capitalization of $3.34 billion, a P/E ratio of 2,328.20 and a beta of 2.02. The business's 50 day simple moving average is $85.21 and its 200 day simple moving average is $84.73.

GeneDx (NASDAQ:WGS - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.40. The firm had revenue of $102.69 million during the quarter, compared to the consensus estimate of $86.00 million. GeneDx had a net margin of 0.39% and a return on equity of 16.51%. Research analysts predict that GeneDx will post 0.97 earnings per share for the current year.

Insider Buying and Selling at GeneDx

In related news, CEO Katherine Stueland sold 9,657 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $90.94, for a total value of $878,207.58. Following the completion of the sale, the chief executive officer owned 4,940 shares of the company's stock, valued at $449,243.60. This represents a 66.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kevin Feeley sold 5,278 shares of the company's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $93.00, for a total transaction of $490,854.00. Following the completion of the sale, the chief financial officer directly owned 3,392 shares of the company's stock, valued at $315,456. The trade was a 60.88% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,411 shares of company stock valued at $2,085,051. Corporate insiders own 29.60% of the company's stock.

Institutional Investors Weigh In On GeneDx

Institutional investors and hedge funds have recently bought and sold shares of the business. Sterling Capital Management LLC increased its holdings in shares of GeneDx by 877.8% in the 4th quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock valued at $27,000 after purchasing an additional 316 shares during the period. GAMMA Investing LLC increased its holdings in shares of GeneDx by 151.7% in the 1st quarter. GAMMA Investing LLC now owns 438 shares of the company's stock valued at $39,000 after purchasing an additional 264 shares during the period. Lazard Asset Management LLC acquired a new position in shares of GeneDx in the 4th quarter valued at about $35,000. US Bancorp DE increased its holdings in shares of GeneDx by 3,223.5% in the 1st quarter. US Bancorp DE now owns 565 shares of the company's stock valued at $50,000 after purchasing an additional 548 shares during the period. Finally, Comerica Bank acquired a new position in shares of GeneDx in the 4th quarter valued at about $50,000. 61.72% of the stock is owned by institutional investors and hedge funds.

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.