Analysts Set GeneDx Holdings Corp. (NASDAQ:WGS) Target Price at $59.33

GeneDx Holdings Corp. (NASDAQ:WGS) has received a consensus recommendation of “Moderate Buy” from the six research firms that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $59.33.

WGS has been the subject of several recent analyst reports. The Goldman Sachs Group raised their price objective on shares of GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. BTIG Research boosted their price objective on GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. TD Cowen increased their target price on GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Wells Fargo & Company boosted their price target on GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Craig Hallum raised their price objective on GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th.

GeneDx Stock Down 6.1 %

Shares of NASDAQ WGS opened at $73.73 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. GeneDx has a 1 year low of $1.16 and a 1 year high of $89.11. The stock’s 50-day simple moving average is $55.23 and its 200-day simple moving average is $37.31. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of -23.71 and a beta of 2.11.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.25. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. The company had revenue of $76.90 million for the quarter, compared to the consensus estimate of $64.98 million. During the same period in the previous year, the business earned ($0.82) EPS. GeneDx’s revenue for the quarter was up 44.3% compared to the same quarter last year. As a group, equities analysts anticipate that GeneDx will post -0.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $75.00, for a total value of $64,935,000.00. Following the completion of the transaction, the insider now owns 2,866,833 shares of the company’s stock, valued at approximately $215,012,475. This represents a 23.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Opko Health, Inc. sold 50,000 shares of GeneDx stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $34.49, for a total transaction of $1,724,500.00. Following the sale, the insider now owns 2,646,972 shares in the company, valued at approximately $91,294,064.28. This represents a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 923,024 shares of company stock valued at $66,980,631 in the last quarter. Company insiders own 27.30% of the company’s stock.

Institutional Trading of GeneDx

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Oracle Investment Management Inc. lifted its holdings in shares of GeneDx by 531.7% during the first quarter. Oracle Investment Management Inc. now owns 1,126,607 shares of the company’s stock valued at $10,286,000 after purchasing an additional 948,253 shares during the last quarter. Vanguard Group Inc. raised its holdings in GeneDx by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 707,612 shares of the company’s stock worth $6,460,000 after buying an additional 28,678 shares during the period. Gagnon Securities LLC lifted its stake in GeneDx by 59.3% during the first quarter. Gagnon Securities LLC now owns 556,305 shares of the company’s stock valued at $5,079,000 after buying an additional 207,027 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in shares of GeneDx in the second quarter worth about $11,335,000. Finally, Fred Alger Management LLC purchased a new position in shares of GeneDx in the third quarter worth approximately $16,731,000. 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.