GeneDx (NASDAQ:WGS) Upgraded at Wall Street Zen

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

Several other equities analysts also recently commented on WGS. 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 report on Friday, May 9th. TD Securities dropped their target price on shares of GeneDx from $135.00 to $110.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company dropped their target price on shares of GeneDx from $105.00 to $78.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Finally, Guggenheim restated a "buy" rating and issued a $115.00 target price (up from $88.00) on shares of GeneDx in a research note on Monday, June 30th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, GeneDx currently has an average rating of "Moderate Buy" and an average price target of $90.13.

GeneDx Price Performance

Shares of GeneDx stock traded down $6.23 during trading hours on Friday, reaching $85.38. The company's stock had a trading volume of 375,431 shares, compared to its average volume of 816,683. The firm has a 50 day moving average price of $73.36 and a 200-day moving average price of $82.44. GeneDx has a one year low of $25.32 and a one year high of $117.75. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.25 and a quick ratio of 3.07. The stock has a market cap of $2.44 billion, a P/E ratio of -60.55 and a beta of 2.01.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.28 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.17. GeneDx had a negative net margin of 11.69% and a positive return on equity of 10.17%. The firm had revenue of $87.12 million for the quarter, compared to the consensus estimate of $79.90 million. On average, analysts predict that GeneDx will post 0.97 EPS for the current year.

Insider Activity

In other news, CEO Katherine Stueland sold 46,594 shares of the stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $89.62, for a total transaction of $4,175,754.28. Following the transaction, the chief executive officer directly owned 1,720 shares in the company, valued at approximately $154,146.40. This trade represents a 96.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin Feeley sold 15,516 shares of the stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $92.18, for a total transaction of $1,430,264.88. Following the transaction, the chief financial officer 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 76,023 shares of company stock worth $6,920,533. Corporate insiders own 29.60% of the company's stock.

Institutional Investors Weigh In On GeneDx

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of GeneDx by 151.7% in 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 last quarter. Palisades Investment Partners LLC raised 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 worth $7,432,000 after buying an additional 309 shares during the last quarter. Sterling Capital Management LLC raised 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 worth $27,000 after buying an additional 316 shares during the last quarter. MetLife Investment Management LLC raised its holdings in shares of GeneDx by 6.2% in the fourth quarter. MetLife Investment Management LLC now owns 7,750 shares of the company's stock worth $596,000 after buying an additional 453 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of GeneDx by 6.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,641 shares of the company's stock worth $677,000 after buying an additional 453 shares during the last quarter. Hedge funds and other 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.