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

Key Points

• Analysts rate GeneDx “Moderate Buy”: Seven of nine analysts recommend buying the stock, with one hold and one sell. The average 12-month price target is $89.57.
• Quarterly results exceeded expectations: GeneDx reported adjusted earnings of $0.01 per share versus the consensus estimate of a $0.19 loss, while revenue reached $114.44 million compared with $111.01 million expected.
• Institutional ownership remains significant: Institutional investors and hedge funds own 61.72% of GeneDx, while insiders hold 25.17%. Recent activity included a 50,000-share purchase by Casdin Capital and a CEO sale made to cover tax withholding obligations.

GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) has received a consensus rating of "Moderate Buy" from the nine analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $89.5714.

A number of research analysts have recently commented on WGS shares. Piper Sandler reaffirmed an "overweight" rating and set a $63.00 price objective (up from $50.00) on shares of GeneDx in a research note on Tuesday, June 23rd. BTIG Research reissued a "buy" rating and issued a $90.00 target price on shares of GeneDx in a research report on Tuesday, August 4th. Craig Hallum restated a "buy" rating and issued a $85.00 target price on shares of GeneDx in a report on Tuesday, May 5th. Zacks Research upgraded shares of GeneDx from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 28th. Finally, Guggenheim reaffirmed a "buy" rating and set a $74.00 price target (up from $70.00) on shares of GeneDx in a research report on Monday, June 29th.

Insider Activity

In other news, CEO Katherine Stueland sold 10,501 shares of the business's stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $60.77, for a total transaction of $638,145.77. Following the completion of the sale, the chief executive officer directly owned 104,372 shares of the company's stock, valued at $6,342,686.44. The trade was a 9.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Casdin Capital, Llc acquired 50,000 shares of the company's stock in a transaction dated Friday, June 5th. The shares were purchased at an average price of $52.86 per share, with a total value of $2,643,000.00. Following the completion of the acquisition, the director owned 3,707,164 shares in the company, valued at approximately $195,960,689.04. The trade was a 1.37% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold 19,135 shares of company stock valued at $1,128,499 in the last ninety days. Company insiders own 25.17% of the company's stock.

Institutional Investors Weigh In On GeneDx

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its stake in shares of GeneDx by 4.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,220,502 shares of the company's stock valued at $158,738,000 after purchasing an additional 52,322 shares in the last quarter. Vanguard Group Inc. increased its position in GeneDx by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 1,189,069 shares of the company's stock worth $154,650,000 after purchasing an additional 18,647 shares in the last quarter. Franklin Resources Inc. raised its holdings in GeneDx by 60.4% in the fourth quarter. Franklin Resources Inc. now owns 1,092,988 shares of the company's stock valued at $142,154,000 after buying an additional 411,607 shares during the period. Westfield Capital Management Co. LP raised its holdings in GeneDx by 87.1% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,018,261 shares of the company's stock valued at $132,435,000 after buying an additional 474,167 shares during the period. Finally, Invesco Ltd. raised its holdings in GeneDx by 59.2% in the fourth quarter. Invesco Ltd. now owns 786,466 shares of the company's stock valued at $102,288,000 after buying an additional 292,394 shares during the period. 61.72% of the stock is currently owned by institutional investors and hedge funds.

GeneDx Price Performance

Shares of NASDAQ:WGS opened at $87.07 on Friday. The company has a market cap of $2.60 billion, a P/E ratio of -23.92 and a beta of 1.92. The company has a quick ratio of 3.06, a current ratio of 3.30 and a debt-to-equity ratio of 0.40. GeneDx has a 52 week low of $32.21 and a 52 week high of $170.87. The business has a fifty day simple moving average of $67.88 and a 200-day simple moving average of $67.18.

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

About GeneDx

GeneDx is a clinical diagnostics company specializing in comprehensive genetic and genomic testing for rare and inherited disorders. The company offers a broad portfolio of assays, including targeted gene panels, whole exome sequencing, whole genome sequencing and chromosomal microarray analysis. GeneDx's laboratory services support the diagnosis of a wide range of conditions—from rare pediatric diseases and hereditary cancer syndromes to neuromuscular and metabolic disorders—by providing clinicians with detailed variant interpretation and reporting.

Founded in 2000 and based in Gaithersburg, Maryland, GeneDx was established with the aim of accelerating the translation of genomic discoveries into clinical care.

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