GeneDx (NASDAQ:WGS) Stock Rating Lowered by Zacks Research

Key Points

• GeneDx (NASDAQ:WGS) has been downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating, reflecting cautious sentiment among analysts.
• Despite the downgrade, there remains a consensus rating of "Moderate Buy" among analysts, with six ratings as Buy, three as Hold, and one as Sell.
• Recent trading shows GeneDx shares opened at $118.26, with a market capitalization of $3.40 billion and a twelve month high of $136.00.

GeneDx (NASDAQ:WGS - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other research firms have also commented on WGS. Wells Fargo & Company upped their price target on GeneDx from $78.00 to $95.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. Wall Street Zen upgraded GeneDx from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Guggenheim reiterated a "buy" rating and issued a $115.00 price target (up previously from $88.00) on shares of GeneDx in a research report on Monday, June 30th. Weiss Ratings reiterated a "sell (d)" rating on shares of GeneDx in a research report on Saturday, September 27th. Finally, Piper Sandler upped their price target on GeneDx from $120.00 to $140.00 and gave the company an "overweight" rating in a research report on Thursday, September 11th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, GeneDx currently has a consensus rating of "Moderate Buy" and an average target price of $104.13.

GeneDx Trading Up 0.8%

Shares of WGS stock opened at $118.26 on Thursday. The firm has a market capitalization of $3.40 billion, a P/E ratio of 2,365.20 and a beta of 1.98. GeneDx has a twelve month low of $46.62 and a twelve month high of $136.00. The company has a quick ratio of 2.70, a current ratio of 2.87 and a debt-to-equity ratio of 0.19. The stock's fifty day simple moving average is $118.82 and its 200 day simple moving average is $94.47.

GeneDx (NASDAQ:WGS - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.40. GeneDx had a return on equity of 16.51% and a net margin of 0.39%.The firm had revenue of $102.69 million for the quarter, compared to analyst estimates of $86.00 million. GeneDx has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that GeneDx will post 0.97 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jason Ryan sold 38,072 shares of the business's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $127.30, for a total value of $4,846,565.60. Following the transaction, the director directly owned 103,284 shares of the company's stock, valued at $13,148,053.20. The trade was a 26.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Katherine Stueland sold 10,501 shares of the company's stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $121.47, for a total value of $1,275,556.47. Following the transaction, the chief executive officer directly owned 14,578 shares in the company, valued at approximately $1,770,789.66. This trade represents a 41.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 564,869 shares of company stock valued at $68,279,628 over the last 90 days. 29.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. bought a new stake in GeneDx during the 1st quarter worth approximately $44,614,000. William Blair Investment Management LLC increased its holdings in GeneDx by 37.2% during the 2nd quarter. William Blair Investment Management LLC now owns 1,631,402 shares of the company's stock worth $150,595,000 after purchasing an additional 442,414 shares in the last quarter. Alliancebernstein L.P. increased its holdings in GeneDx by 3,054.5% during the 1st quarter. Alliancebernstein L.P. now owns 436,900 shares of the company's stock worth $38,694,000 after purchasing an additional 423,050 shares in the last quarter. Jennison Associates LLC increased its holdings in GeneDx by 6,163.1% during the 2nd quarter. Jennison Associates LLC now owns 397,896 shares of the company's stock worth $36,730,000 after purchasing an additional 391,543 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its holdings in GeneDx by 164.8% during the 2nd quarter. Westfield Capital Management Co. LP now owns 589,188 shares of the company's stock worth $54,388,000 after purchasing an additional 366,711 shares in the last quarter. 61.72% of the stock is owned by institutional investors and hedge funds.

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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