GeneDx (NASDAQ:WGS) Upgraded by Wall Street Zen to Hold Rating

Key Points

• Wall Street Zen upgraded GeneDx from “sell” to “hold,” while analyst sentiment overall remains a “Moderate Buy,” with a consensus price target of $89.57.
• GeneDx reported quarterly EPS of $0.01, beating estimates for a $0.19 loss, and revenue of $114.44 million versus expectations of $111.01 million.
• Shares opened at $77.08, with the company valued at approximately $2.29 billion; insiders own 25.17% of the stock, while institutional investors hold 61.72%.

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

WGS has been the subject of several other reports. Weiss Ratings upgraded GeneDx from a "sell (e+)" rating to a "sell (d)" rating in a research report on Tuesday. TD Cowen restated a "buy" rating on shares of GeneDx in a report on Wednesday, July 15th. Zacks Research raised shares of GeneDx from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 28th. Craig Hallum reiterated a "buy" rating and issued a $85.00 price target on shares of GeneDx in a report on Tuesday, May 5th. Finally, Piper Sandler reissued an "overweight" rating and set a $63.00 price objective (up from $50.00) on shares of GeneDx in a research report on Tuesday, June 23rd. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, GeneDx presently has a consensus rating of "Moderate Buy" and a consensus target price of $89.57.

GeneDx Price Performance

Shares of WGS stock opened at $77.08 on Friday. The firm has a fifty day moving average of $62.84 and a 200-day moving average of $68.57. The company has a quick ratio of 2.95, a current ratio of 3.30 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of -21.18 and a beta of 1.92. GeneDx has a 12-month low of $32.21 and a 12-month high of $170.87.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its earnings results on Monday, August 3rd. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.19) by $0.20. GeneDx had a positive return on equity of 4.12% and a negative net margin of 23.41%.The firm had revenue of $114.44 million during the quarter, compared to analysts' expectations of $111.01 million. During the same period in the previous year, the firm earned $0.36 earnings per share. On average, equities research analysts forecast that GeneDx will post -1 earnings per share for the current year.

Insider Transactions at GeneDx

In related news, Director Keith A. Meister purchased 500,000 shares of GeneDx stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $39.29 per share, with a total value of $19,645,000.00. Following the completion of the transaction, the director owned 4,433,297 shares of the company's stock, valued at approximately $174,184,239.13. This trade represents a 12.71% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Katherine Stueland sold 10,501 shares of the firm's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $60.77, for a total value of $638,145.77. Following the completion of the transaction, the chief executive officer owned 104,372 shares of the company's stock, valued at approximately $6,342,686.44. This represents a 9.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders acquired 1,551,273 shares of company stock worth $65,979,582 and sold 19,135 shares worth $1,128,499. Company insiders own 25.17% of the company's stock.

Institutional Investors Weigh In On GeneDx

Several large investors have recently made changes to their positions in the stock. Sumitomo Mitsui Trust Group Inc. boosted its position in GeneDx by 30.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 381,725 shares of the company's stock worth $49,647,000 after purchasing an additional 89,470 shares during the period. Goldman Sachs Group Inc. raised its position in shares of GeneDx by 4.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,220,502 shares of the company's stock valued at $158,738,000 after purchasing an additional 52,322 shares during the period. Vanguard Group Inc. raised its position in shares of GeneDx by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 1,189,069 shares of the company's stock valued at $154,650,000 after purchasing an additional 18,647 shares during the period. Renaissance Group LLC acquired a new stake in shares of GeneDx during the 4th quarter worth about $7,167,000. Finally, Franklin Resources Inc. lifted its stake in shares of GeneDx by 60.4% during the 4th quarter. Franklin Resources Inc. now owns 1,092,988 shares of the company's stock worth $142,154,000 after buying an additional 411,607 shares during the last quarter. Institutional investors and hedge funds own 61.72% of the company's stock.

GeneDx Company Profile

GeneDx is a clinical diagnostics company specializing in comprehensive genetic and genomic testing for rare and inherited disorders. The company offers a broad portfolio of assays, including targeted gene panels, whole exome sequencing, whole genome sequencing and chromosomal microarray analysis. GeneDx's laboratory services support the diagnosis of a wide range of conditions—from rare pediatric diseases and hereditary cancer syndromes to neuromuscular and metabolic disorders—by providing clinicians with detailed variant interpretation and reporting.

Founded in 2000 and based in Gaithersburg, Maryland, GeneDx was established with the aim of accelerating the translation of genomic discoveries into clinical care.

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