GeneDx (NASDAQ:WGS) Stock Rating Upgraded by Jefferies Financial Group

Jefferies Financial Group upgraded shares of GeneDx (NASDAQ:WGS - Free Report) from a hold rating to a buy rating in a report issued on Friday morning, MarketBeat.com reports. They currently have $80.00 price objective on the stock.

WGS has been the topic of a number of other research reports. The Goldman Sachs Group boosted their target price on shares of GeneDx from $70.00 to $80.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Wells Fargo & Company lowered 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 note on Thursday, May 1st. Finally, TD Securities lowered their price objective on shares of GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, GeneDx has an average rating of "Moderate Buy" and an average price target of $86.57.

GeneDx Stock Performance

Shares of GeneDx stock traded down $0.14 during mid-day trading on Friday, hitting $59.00. 1,256,571 shares of the stock were exchanged, compared to its average volume of 740,965. GeneDx has a 12 month low of $19.16 and a 12 month high of $117.75. The company has a 50-day simple moving average of $89.49 and a 200 day simple moving average of $82.98. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. The company has a market capitalization of $1.66 billion, a P/E ratio of -30.10 and a beta of 1.96.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.28 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.17. The company had revenue of $87.12 million for the quarter, compared to analysts' expectations of $79.90 million. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. Sell-side analysts anticipate that GeneDx will post 0.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In other GeneDx news, Director Keith A. Meister purchased 100,000 shares of GeneDx stock in a transaction dated Thursday, May 8th. The stock was acquired at an average price of $56.01 per share, for a total transaction of $5,601,000.00. Following the acquisition, the director now owns 3,008,629 shares in the company, valued at $168,513,310.29. This trade represents a 3.44% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Katherine Stueland sold 2,154 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $113.09, for a total transaction of $243,595.86. Following the sale, the chief executive officer now directly owns 3,440 shares in the company, valued at approximately $389,029.60. This represents a 38.51% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 139,390 shares of company stock valued at $13,043,288. Company insiders own 27.30% of the company's stock.

Institutional Trading of GeneDx

A number of hedge funds have recently added to or reduced their stakes in WGS. MCF Advisors LLC raised its position in shares of GeneDx by 107.7% in the fourth quarter. MCF Advisors LLC now owns 351 shares of the company's stock valued at $27,000 after buying an additional 182 shares during the last quarter. GAMMA Investing LLC boosted its stake in GeneDx by 151.7% during the first 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. Palisades Investment Partners LLC grew its holdings in shares of GeneDx by 0.4% in the first quarter. Palisades Investment Partners LLC now owns 83,913 shares of the company's stock valued at $7,432,000 after purchasing an additional 309 shares in the last quarter. Sterling Capital Management LLC grew its holdings in shares of GeneDx by 877.8% in the fourth quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock valued at $27,000 after purchasing an additional 316 shares in the last quarter. Finally, Global Retirement Partners LLC acquired a new position in GeneDx during the 4th quarter worth approximately $28,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

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.