GeneDx Holdings Corp. (NASDAQ:WGS) Receives Consensus Recommendation of “Moderate Buy” from Analysts

GeneDx Holdings Corp. (NASDAQ:WGS) has received a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $59.33.

A number of research analysts recently commented on WGS shares. The Goldman Sachs Group boosted their price target on GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Wells Fargo & Company raised their target price on shares of 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 upped their price target on shares of GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th.

Insider Activity at GeneDx

In other news, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $75.00, for a total transaction of $64,935,000.00. Following the completion of the transaction, the insider now directly owns 2,866,833 shares in the company, valued at approximately $215,012,475. This represents a 23.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Katherine Stueland sold 23,108 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $70.48, for a total value of $1,628,651.84. Following the completion of the transaction, the chief executive officer now owns 82,318 shares of the company’s stock, valued at $5,801,772.64. The trade was a 21.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,123,603 shares of company stock valued at $83,300,382 over the last ninety days. 27.30% of the stock is owned by corporate insiders.

Institutional Trading of GeneDx

Several hedge funds and other institutional investors have recently made changes to their positions in WGS. Acadian Asset Management LLC bought a new position in GeneDx during the 2nd quarter worth $34,000. nVerses Capital LLC bought a new position in shares of GeneDx during the second quarter worth about $50,000. CWM LLC acquired a new position in shares of GeneDx in the third quarter worth approximately $89,000. SG Americas Securities LLC bought a new stake in GeneDx in the third quarter valued at approximately $198,000. Finally, Point72 DIFC Ltd acquired a new stake in GeneDx during the 3rd quarter valued at approximately $220,000. 61.72% of the stock is currently owned by institutional investors.

GeneDx Stock Performance

Shares of NASDAQ:WGS opened at $78.05 on Monday. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25. GeneDx has a 12-month low of $2.47 and a 12-month high of $89.11. The company’s 50 day moving average price is $74.30 and its two-hundred day moving average price is $49.31. The firm has a market cap of $2.14 billion, a PE ratio of -25.10 and a beta of 2.03.

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

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.