GeneDx (NASDAQ:WGS) Rating Lowered to Hold at Wall Street Zen

Wall Street Zen downgraded shares of GeneDx (NASDAQ:WGS - Free Report) from a buy rating to a hold rating in a research note issued to investors on Saturday.

Other equities analysts have also issued reports about the stock. Guggenheim started coverage on shares of GeneDx in a research report on Thursday, May 15th. They set a "buy" rating and a $88.00 target price on the stock. TD Securities reduced their price objective on GeneDx from $135.00 to $110.00 and set a "buy" rating on the stock in a 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 research note on Friday, May 9th. Finally, Wells Fargo & Company cut their price target on GeneDx from $105.00 to $78.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $86.75.

GeneDx Price Performance

WGS stock traded up $2.57 during midday trading on Friday, reaching $67.00. 607,499 shares of the company's stock traded hands, compared to its average volume of 792,427. The company has a quick ratio of 3.07, a current ratio of 3.25 and a debt-to-equity ratio of 0.20. The company has a market cap of $1.91 billion, a price-to-earnings ratio of -47.52 and a beta of 1.94. The company has a 50-day simple moving average of $75.57 and a two-hundred day simple moving average of $81.43. GeneDx has a 1-year low of $24.91 and a 1-year 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, beating analysts' consensus estimates of $0.11 by $0.17. The company 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%. On average, analysts anticipate that GeneDx will post 0.97 earnings per share for the current year.

Insider Activity

In other news, CFO Kevin Feeley sold 370 shares of the company's stock in a transaction dated 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 sale, the chief financial officer now directly owns 4,105 shares of the company's stock, valued at $292,522.30. This represents a 8.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Keith A. Meister acquired 100,000 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were 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 approximately $168,513,310.29. This trade represents a 3.44% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 120,319 shares of company stock valued at $11,207,272 in the last 90 days. 29.60% of the stock is owned by company insiders.

Institutional Trading of GeneDx

A number of large investors have recently made changes to their positions in WGS. Sterling Capital Management LLC lifted its holdings in GeneDx by 877.8% during the fourth quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock worth $27,000 after acquiring an additional 316 shares in the last quarter. Global Retirement Partners LLC acquired a new position in shares of GeneDx in the 4th quarter valued at approximately $28,000. Lazard Asset Management LLC bought a new stake in GeneDx during the 4th quarter worth approximately $35,000. GAMMA Investing LLC raised its holdings in GeneDx by 151.7% during the 1st quarter. GAMMA Investing LLC now owns 438 shares of the company's stock worth $39,000 after buying an additional 264 shares during the period. Finally, Comerica Bank acquired a new stake in GeneDx during the 4th quarter worth approximately $50,000. 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.