GeneDx Holdings Corp. (NASDAQ:WGS) Given Average Recommendation of "Moderate Buy" by Analysts

GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) has been given an average recommendation of "Moderate Buy" by the eight research firms that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $86.75.

Several analysts have issued reports on the company. Jefferies Financial Group raised GeneDx from a "hold" rating to a "buy" rating and set a $80.00 target price for the company in a research note on Friday, May 9th. Wall Street Zen lowered GeneDx from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. TD Securities lowered their price objective on GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Wells Fargo & Company lowered their price objective on GeneDx from $105.00 to $78.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Finally, Guggenheim started coverage on GeneDx in a research report on Thursday, May 15th. They issued a "buy" rating and a $88.00 price objective for the company.

Insider Activity at GeneDx

In other GeneDx news, CFO Kevin Feeley sold 370 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $71.26, for a total value of $26,366.20. Following the completion of the transaction, the chief financial officer now owns 4,105 shares in the company, valued at approximately $292,522.30. This represents a 8.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Keith A. Meister acquired 100,000 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was purchased at an average price of $56.01 per share, with a total value of $5,601,000.00. Following the acquisition, the director now owns 3,008,629 shares of the company's stock, valued at $168,513,310.29. This represents a 3.44% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 65,022 shares of company stock worth $5,919,860 over the last quarter. 29.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GeneDx

A number of institutional investors have recently added to or reduced their stakes in WGS. Voya Investment Management LLC grew its stake in shares of GeneDx by 79.5% in the first quarter. Voya Investment Management LLC now owns 6,819 shares of the company's stock worth $604,000 after acquiring an additional 3,021 shares during the last quarter. Strs Ohio purchased a new stake in shares of GeneDx in the first quarter worth $230,000. Ellsworth Advisors LLC purchased a new stake in shares of GeneDx in the first quarter worth $1,414,000. Acadian Asset Management LLC grew its stake in shares of GeneDx by 1.6% in the first quarter. Acadian Asset Management LLC now owns 36,182 shares of the company's stock worth $3,199,000 after acquiring an additional 567 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of GeneDx by 67.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 28,224 shares of the company's stock worth $2,500,000 after acquiring an additional 11,375 shares during the last quarter. Institutional investors own 61.72% of the company's stock.

GeneDx Price Performance

WGS traded up $0.66 during midday trading on Monday, hitting $89.59. The stock had a trading volume of 771,772 shares, compared to its average volume of 814,968. The company has a market cap of $2.56 billion, a P/E ratio of -63.54 and a beta of 1.94. The business has a fifty day moving average of $74.61 and a 200 day moving average of $81.70. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.07 and a current ratio of 3.25. GeneDx has a 1 year low of $24.91 and a 1 year high of $117.75.

GeneDx (NASDAQ:WGS - Get Free Report) last issued its 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. The business had revenue of $87.12 million during the quarter, compared to analyst estimates of $79.90 million. GeneDx had a positive return on equity of 10.17% and a negative net margin of 11.69%. As a group, equities analysts forecast that GeneDx will post 0.97 earnings per share for the current fiscal year.

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.