Brokerages Set GeneDx Holdings Corp. (NASDAQ:WGS) Target Price at $72.33

GeneDx Holdings Corp. (NASDAQ:WGS) has received an average recommendation of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $72.33.

Several analysts have weighed in on WGS shares. The Goldman Sachs Group boosted their price objective on GeneDx from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. TD Cowen boosted their price target on shares of GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th.

GeneDx Stock Down 4.1 %

Shares of WGS opened at $94.46 on Friday. The business’s 50 day simple moving average is $84.69 and its 200-day simple moving average is $70.37. GeneDx has a one year low of $7.72 and a one year high of $115.60. The company has a market capitalization of $2.65 billion, a P/E ratio of -48.19 and a beta of 1.91. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.66. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. The firm had revenue of $95.64 million for the quarter, compared to analyst estimates of $82.24 million. As a group, sell-side analysts predict that GeneDx will post 0.97 EPS for the current fiscal year.

Insider Transactions at GeneDx

In related news, CEO Katherine Stueland sold 1,078 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $89.44, for a total transaction of $96,416.32. Following the completion of the transaction, the chief executive officer now directly owns 6,674 shares of the company’s stock, valued at approximately $596,922.56. This represents a 13.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kevin Feeley sold 1,430 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $76.04, for a total value of $108,737.20. Following the transaction, the chief financial officer now directly owns 26,770 shares in the company, valued at $2,035,590.80. This trade represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,735 shares of company stock valued at $11,719,787 over the last three months. Company insiders own 27.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. MCF Advisors LLC boosted its stake in shares of GeneDx by 107.7% during the 4th quarter. MCF Advisors LLC now owns 351 shares of the company’s stock worth $27,000 after acquiring an additional 182 shares during the period. Sterling Capital Management LLC boosted its position in GeneDx by 877.8% during the fourth quarter. Sterling Capital Management LLC now owns 352 shares of the company’s stock worth $27,000 after purchasing an additional 316 shares during the period. Global Retirement Partners LLC acquired a new position in shares of GeneDx in the fourth quarter valued at $28,000. Lazard Asset Management LLC bought a new position in shares of GeneDx in the fourth quarter valued at about $35,000. Finally, Comerica Bank acquired a new stake in shares of GeneDx during the 4th quarter worth about $50,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

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.