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

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) have received a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $72.33.

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

GeneDx Stock Up 4.3 %

Shares of NASDAQ:WGS opened at $96.63 on Wednesday. The business’s 50-day moving average is $90.43 and its 200-day moving average is $78.11. GeneDx has a 1 year low of $8.63 and a 1 year high of $115.60. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of -49.30 and a beta of 1.93. 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 results on Tuesday, February 18th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.66. The firm had revenue of $95.64 million for the quarter, compared to analyst estimates of $82.24 million. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. Equities research analysts predict that GeneDx will post 0.97 earnings per share for the current year.

Insider Buying and Selling at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 1,657 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $78.48, for a total transaction of $130,041.36. Following the completion of the sale, the chief executive officer now directly owns 3,937 shares of the company’s stock, valued at approximately $308,975.76. The trade was a 29.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kevin Feeley sold 3,749 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $96.71, for a total value of $362,565.79. Following the completion of the transaction, the chief financial officer now owns 8,492 shares in the company, valued at $821,261.32. This represents a 30.63 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 138,780 shares of company stock worth $12,907,437. 27.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GeneDx

A number of hedge funds have recently bought and sold shares of the company. Barclays PLC lifted its position in shares of GeneDx by 346.3% during the third quarter. Barclays PLC now owns 18,921 shares of the company’s stock valued at $803,000 after purchasing an additional 14,681 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in GeneDx in the 3rd quarter valued at about $325,000. Charles Schwab Investment Management Inc. lifted its position in shares of GeneDx by 304.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 147,034 shares of the company’s stock worth $6,240,000 after buying an additional 110,666 shares in the last quarter. Franklin Resources Inc. purchased a new position in shares of GeneDx in the 3rd quarter worth approximately $301,000. Finally, Prudential Financial Inc. bought a new position in shares of GeneDx in the fourth quarter valued at approximately $7,938,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

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.