GeneDx Holdings Corp. (NASDAQ:WGS) Receives $70.67 Average PT from Brokerages

GeneDx Holdings Corp. (NASDAQ:WGS) has received a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $70.67.

A number of analysts recently issued reports on WGS shares. Wells Fargo & Company increased their price target on shares of GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. The Goldman Sachs Group raised their price objective on GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Craig Hallum increased their target price on GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, TD Cowen lifted their target price on shares of GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th.

GeneDx Trading Up 2.1 %

WGS opened at $79.27 on Friday. The stock has a fifty day moving average price of $77.89 and a 200-day moving average price of $56.81. GeneDx has a 12 month low of $2.85 and a 12 month high of $98.87. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of -25.49 and a beta of 2.02.

GeneDx (NASDAQ:WGS) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.25. The company had revenue of $76.90 million during the quarter, compared to analysts’ expectations 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 revenue was up 44.3% compared to the same quarter last year. During the same period last year, the business posted ($0.82) earnings per share. As a group, equities research analysts anticipate that GeneDx will post -0.24 earnings per share for the current fiscal year.

Insider Buying and Selling at GeneDx

In related news, CFO Kevin Feeley sold 12,019 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $73.76, for a total value of $886,521.44. Following the transaction, the chief financial officer now owns 32,932 shares in the company, valued at approximately $2,429,064.32. This trade represents a 26.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Katherine Stueland sold 51,420 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $94.48, for a total transaction of $4,858,161.60. Following the completion of the transaction, the chief executive officer now directly owns 1,720 shares in the company, valued at approximately $162,505.60. This represents a 96.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,229,965 shares of company stock valued at $93,006,163. Insiders own 27.30% of the company’s stock.

Institutional Investors Weigh In On GeneDx

A number of hedge funds have recently bought and sold shares of the business. Barclays PLC lifted its holdings in GeneDx by 346.3% in the third quarter. Barclays PLC now owns 18,921 shares of the company’s stock worth $803,000 after acquiring an additional 14,681 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in GeneDx in the 2nd quarter valued at approximately $2,362,000. Chartwell Investment Partners LLC acquired a new position in GeneDx during the 3rd quarter worth $1,722,000. Charles Schwab Investment Management Inc. grew its stake in shares of GeneDx by 304.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 147,034 shares of the company’s stock worth $6,240,000 after purchasing an additional 110,666 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of GeneDx during the third quarter valued at $325,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

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.