GeneDx (NASDAQ:WGS) Raised to "Buy" at Wall Street Zen

GeneDx (NASDAQ:WGS - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

WGS has been the topic of a number of other reports. Jefferies Financial Group raised GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price objective on the stock in a research note on Friday, May 9th. Guggenheim reiterated a "buy" rating and set a $115.00 price target (up from $88.00) on shares of GeneDx in a report on Monday, June 30th. Wells Fargo & Company cut their price target on GeneDx from $105.00 to $78.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Finally, TD Securities cut their price target on GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, GeneDx currently has an average rating of "Moderate Buy" and a consensus price target of $90.13.

GeneDx Stock Performance

Shares of WGS stock traded up $1.82 during trading on Friday, reaching $91.61. The company had a trading volume of 328,245 shares, compared to its average volume of 816,175. The firm's 50 day simple moving average is $73.36 and its two-hundred day simple moving average is $82.35. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.25 and a quick ratio of 3.07. GeneDx has a one year low of $25.32 and a one year high of $117.75. The company has a market capitalization of $2.61 billion, a PE ratio of -64.97 and a beta of 2.01.

GeneDx (NASDAQ:WGS - Get Free Report) last issued its quarterly earnings data 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. GeneDx had a positive return on equity of 10.17% and a negative net margin of 11.69%. The business had revenue of $87.12 million for the quarter, compared to the consensus estimate of $79.90 million. Sell-side analysts forecast that GeneDx will post 0.97 earnings per share for the current year.

Insider Transactions at GeneDx

In related news, CFO Kevin Feeley sold 15,516 shares of the company's stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $92.18, for a total value of $1,430,264.88. Following the completion of the transaction, the chief financial officer directly owned 1,726 shares in the company, valued at approximately $159,102.68. This represents a 89.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Keith A. Meister bought 100,000 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The stock was purchased at an average price of $56.01 per share, with a total value of $5,601,000.00. Following the completion of the purchase, the director directly owned 3,008,629 shares of the company's stock, valued at $168,513,310.29. This represents a 3.44% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 76,023 shares of company stock worth $6,920,533 over the last three months. 29.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. William Blair Investment Management LLC bought a new stake in GeneDx in the fourth quarter valued at $51,496,000. Lord Abbett & CO. LLC bought a new stake in GeneDx in the fourth quarter valued at $48,458,000. Summit Partners Public Asset Management LLC grew its position in GeneDx by 336.9% in the fourth quarter. Summit Partners Public Asset Management LLC now owns 755,564 shares of the company's stock valued at $58,073,000 after acquiring an additional 582,619 shares during the period. T. Rowe Price Investment Management Inc. bought a new stake in GeneDx in the first quarter valued at $44,614,000. Finally, Alliancebernstein L.P. grew its position in GeneDx by 3,054.5% in the first quarter. Alliancebernstein L.P. now owns 436,900 shares of the company's stock valued at $38,694,000 after acquiring an additional 423,050 shares during the period. 61.72% of the stock is currently 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.