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

GeneDx (NASDAQ:WGS - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Sunday.

Several other equities analysts have also commented on WGS. Guggenheim reissued a "buy" rating and issued a $115.00 target price (up previously from $88.00) on shares of GeneDx in a report on Monday, June 30th. Piper Sandler assumed coverage on GeneDx in a research report on Wednesday. They set an "overweight" rating and a $110.00 target price on the stock. Wells Fargo & Company decreased their target price on GeneDx from $105.00 to $78.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Jefferies Financial Group upgraded shares of GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price target on the stock in a research note on Friday, May 9th. Finally, TD Securities cut their price objective on shares of GeneDx from $135.00 to $110.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, GeneDx presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.33.

GeneDx Stock Down 5.0%

GeneDx stock opened at $82.56 on Friday. The firm has a market capitalization of $2.36 billion, a P/E ratio of -58.55 and a beta of 2.01. The company has a current ratio of 3.25, a quick ratio of 3.07 and a debt-to-equity ratio of 0.20. GeneDx has a twelve month low of $25.32 and a twelve month high of $117.75. The stock's fifty day simple moving average is $73.49 and its 200-day simple moving average is $82.72.

GeneDx (NASDAQ:WGS - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.17. The company had revenue of $87.12 million for the quarter, compared to the consensus estimate 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 expect that GeneDx will post 0.97 earnings per share for the current fiscal year.

Insider Buying and Selling at GeneDx

In related news, CFO Kevin Feeley sold 5,278 shares of the company's stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $93.00, for a total value of $490,854.00. Following the completion of the sale, the chief financial officer owned 3,392 shares in the company, valued at $315,456. This represents a 60.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Katherine Stueland sold 3,220 shares of GeneDx stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $93.00, for a total transaction of $299,460.00. Following the completion of the transaction, the chief executive officer owned 1,720 shares in the company, valued at approximately $159,960. This represents a 65.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,411 shares of company stock worth $2,104,828. 29.60% of the stock is owned by insiders.

Institutional Trading of GeneDx

A number of hedge funds have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC raised its stake in shares of 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 purchasing an additional 316 shares during the last quarter. Lazard Asset Management LLC purchased a new position in GeneDx during the 4th quarter worth $35,000. GAMMA Investing LLC raised its position 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 last quarter. Comerica Bank acquired a new stake in shares of GeneDx in the 4th quarter worth $50,000. Finally, US Bancorp DE boosted its holdings in shares of GeneDx by 3,223.5% in the first quarter. US Bancorp DE now owns 565 shares of the company's stock valued at $50,000 after acquiring an additional 548 shares in the last quarter. 61.72% of the stock is owned by institutional investors and hedge funds.

About GeneDx

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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