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

Shares of GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) have been given an average rating of "Moderate Buy" by the eight analysts that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $86.75.

A number of equities analysts recently weighed in on WGS shares. Wells Fargo & Company lowered their target price on shares of GeneDx from $105.00 to $78.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. 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 research report on Thursday, May 1st. 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 report on Friday, May 9th. Wall Street Zen lowered GeneDx from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Guggenheim initiated coverage on GeneDx in a report on Thursday, May 15th. They set a "buy" rating and a $88.00 price objective for the company.

GeneDx Price Performance

Shares of NASDAQ:WGS opened at $67.00 on Monday. The firm has a market cap of $1.91 billion, a PE ratio of -47.52 and a beta of 1.94. The firm's fifty day moving average is $75.57 and its 200-day moving average is $81.45. 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 52 week low of $24.91 and a 52 week high of $117.75.

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, topping analysts' consensus estimates of $0.11 by $0.17. GeneDx had a negative net margin of 11.69% and a positive return on equity of 10.17%. The business had revenue of $87.12 million during the quarter, compared to the consensus estimate of $79.90 million. Sell-side analysts predict that GeneDx will post 0.97 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Kevin Feeley sold 370 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $71.26, for a total transaction of $26,366.20. Following the transaction, the chief financial officer now directly owns 4,105 shares of the company's stock, valued at approximately $292,522.30. This trade represents a 8.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Keith A. Meister acquired 100,000 shares of GeneDx stock in a transaction dated Thursday, May 8th. The shares were bought at an average cost of $56.01 per share, for a total transaction of $5,601,000.00. Following the completion of the purchase, the director now directly owns 3,008,629 shares of the company's stock, valued at approximately $168,513,310.29. The trade was a 3.44% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 120,319 shares of company stock worth $11,207,272. Corporate insiders own 29.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in WGS. Sterling Capital Management LLC boosted its position in shares of GeneDx by 877.8% in the 4th quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock worth $27,000 after purchasing an additional 316 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in GeneDx in the fourth quarter worth about $28,000. Lazard Asset Management LLC bought a new position in shares of GeneDx in the fourth quarter worth approximately $35,000. GAMMA Investing LLC raised its holdings in GeneDx by 151.7% during the first quarter. GAMMA Investing LLC now owns 438 shares of the company's stock valued at $39,000 after acquiring an additional 264 shares during the period. Finally, Comerica Bank bought a new stake in shares of GeneDx during the fourth quarter valued at approximately $50,000. Hedge funds and other institutional investors own 61.72% of the company's stock.

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.

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