Wall Street Zen Upgrades GeneDx (NASDAQ:WGS) to Buy

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

Several other brokerages also recently weighed in on WGS. Guggenheim restated a "buy" rating and set a $115.00 target price (up from $88.00) on shares of GeneDx in a research note on Monday, June 30th. Jefferies Financial Group upgraded shares of GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price objective on the stock in a report on Friday, May 9th. Wells Fargo & Company lowered their target price 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 cut their price target 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. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, GeneDx currently has a consensus rating of "Moderate Buy" and a consensus price target of $90.13.

GeneDx Stock Down 6.4%

WGS traded down $5.87 on Friday, hitting $85.74. The company had a trading volume of 789,811 shares, compared to its average volume of 818,266. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of -60.81 and a beta of 2.01. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.07 and a current ratio of 3.25. The stock has a fifty day moving average price of $72.82 and a 200-day moving average price of $82.50. GeneDx has a 12-month low of $25.32 and a 12-month high of $117.75.

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

Insider Buying and Selling at GeneDx

In other GeneDx news, CFO Kevin Feeley sold 1,344 shares of GeneDx stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $91.12, for a total transaction of $122,465.28. Following the completion of the transaction, the chief financial officer owned 7,425 shares in the company, valued at approximately $676,566. This trade represents a 15.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Katherine Stueland sold 9,657 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $90.94, for a total value of $878,207.58. Following the completion of the transaction, the chief executive officer directly owned 4,940 shares of the company's stock, valued at approximately $449,243.60. This trade represents a 66.16% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,023 shares of company stock worth $6,920,533. Company insiders own 29.60% of the company's stock.

Institutional Trading of GeneDx

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sterling Capital Management LLC boosted its position in GeneDx by 877.8% in the 4th quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock worth $27,000 after purchasing an additional 316 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in GeneDx during the fourth quarter worth $35,000. GAMMA Investing LLC grew its position in GeneDx by 151.7% during the first quarter. GAMMA Investing LLC now owns 438 shares of the company's stock valued at $39,000 after buying an additional 264 shares during the period. Comerica Bank purchased a new position in GeneDx in the fourth quarter valued at $50,000. Finally, US Bancorp DE raised its position in shares of GeneDx by 3,223.5% in the first quarter. US Bancorp DE now owns 565 shares of the company's stock worth $50,000 after acquiring an additional 548 shares during the period. 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.