Analysts Set GeneDx Holdings Corp. (NASDAQ:WGS) Target Price at $78.14

GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) has earned an average rating of "Moderate Buy" from the seven analysts that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $86.57.

A number of equities analysts have recently weighed in on the company. Jefferies Financial Group raised GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price target for the company in a report on Friday. TD Securities reduced their target price on shares of GeneDx from $135.00 to $110.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. The Goldman Sachs Group raised 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. Finally, Wells Fargo & Company cut their price objective on shares of GeneDx from $105.00 to $78.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st.

GeneDx Price Performance

Shares of NASDAQ:WGS traded up $3.30 during midday trading on Friday, hitting $59.66. 709,487 shares of the stock were exchanged, compared to its average volume of 737,193. The stock has a market cap of $1.67 billion, a P/E ratio of -30.44 and a beta of 1.96. GeneDx has a twelve month low of $19.04 and a twelve month high of $117.75. The company has a 50 day moving average price of $91.22 and a 200-day moving average price of $82.62. 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 - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.28 earnings per share (EPS) for the quarter, beating 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 company had revenue of $87.12 million for the quarter, compared to the consensus estimate of $79.90 million. On average, research analysts forecast that GeneDx will post 0.97 earnings per share for the current year.

Insider Activity

In other GeneDx news, CEO Katherine Stueland sold 1,078 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $89.44, for a total value of $96,416.32. Following the completion of the transaction, the chief executive officer now directly owns 6,674 shares of the company's stock, valued at $596,922.56. This represents a 13.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kevin Feeley sold 388 shares of GeneDx stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $113.09, for a total value of $43,878.92. Following the sale, the chief financial officer now directly owns 3,337 shares in the company, valued at approximately $377,381.33. The trade was a 10.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 139,390 shares of company stock worth $13,043,288. 27.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On GeneDx

Institutional investors have recently made changes to their positions in the business. William Blair Investment Management LLC bought a new stake in shares of GeneDx in the fourth quarter worth $51,496,000. Lord Abbett & CO. LLC bought a new stake in shares of GeneDx in the 4th quarter worth about $48,458,000. Summit Partners Public Asset Management LLC raised its stake in shares of GeneDx by 336.9% in 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 purchasing an additional 582,619 shares in the last quarter. Science & Technology Partners L.P. bought a new position in shares of GeneDx during the fourth quarter worth about $30,821,000. Finally, Zweig DiMenna Associates LLC acquired a new position in GeneDx in the fourth quarter worth about $23,788,000. 61.72% of the stock is owned by institutional investors and hedge funds.

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.