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

GeneDx Holdings Corp. (NASDAQ:WGS) has been given a consensus recommendation of “Moderate Buy” by the six brokerages that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $38.00.

Several research firms recently weighed in on WGS. Wells Fargo & Company assumed coverage on shares of GeneDx in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $34.00 price objective on the stock. Jefferies Financial Group assumed coverage on shares of GeneDx in a report on Monday, June 3rd. They issued a “hold” rating and a $21.00 price target for the company. BTIG Research upped their price objective on shares of GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. TD Cowen lifted 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. Finally, The Goldman Sachs Group increased their price target on GeneDx from $28.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st.

Insiders Place Their Bets

In other news, major shareholder Opko Health, Inc. sold 50,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $34.49, for a total value of $1,724,500.00. Following the sale, the insider now directly owns 2,646,972 shares in the company, valued at $91,294,064.28. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, major shareholder Opko Health, Inc. sold 50,000 shares of GeneDx stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $34.49, for a total value of $1,724,500.00. Following the sale, the insider now owns 2,646,972 shares of the company’s stock, valued at approximately $91,294,064.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kevin Feeley sold 895 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $33.33, for a total value of $29,830.35. Following the completion of the sale, the chief financial officer now owns 39,910 shares in the company, valued at approximately $1,330,200.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 743,868 shares of company stock worth $24,114,996. Corporate insiders own 28.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Decheng Capital LLC acquired a new position in GeneDx during the fourth quarter valued at approximately $285,000. Thompson Davis & CO. Inc. raised its stake in shares of GeneDx by 20.8% during the 1st quarter. Thompson Davis & CO. Inc. now owns 24,094 shares of the company’s stock worth $220,000 after purchasing an additional 4,150 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of GeneDx by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 707,612 shares of the company’s stock valued at $6,460,000 after buying an additional 28,678 shares during the last quarter. Gagnon Advisors LLC grew its stake in shares of GeneDx by 41.6% in the first quarter. Gagnon Advisors LLC now owns 211,393 shares of the company’s stock valued at $1,930,000 after buying an additional 62,059 shares in the last quarter. Finally, Gagnon Securities LLC increased its holdings in GeneDx by 59.3% during the first quarter. Gagnon Securities LLC now owns 556,305 shares of the company’s stock worth $5,079,000 after buying an additional 207,027 shares during the last quarter. Institutional investors own 61.72% of the company’s stock.

GeneDx Price Performance

GeneDx stock opened at $42.79 on Friday. The business’s 50-day simple moving average is $34.34 and its 200 day simple moving average is $24.68. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -8.26 and a beta of 2.29. GeneDx has a 12-month low of $1.16 and a 12-month high of $43.32. The company has a quick ratio of 2.22, a current ratio of 2.38 and a debt-to-equity ratio of 0.27.

GeneDx (NASDAQ:WGS) last issued its earnings results on Tuesday, July 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.15. GeneDx had a negative net margin of 48.21% and a negative return on equity of 22.71%. The company had revenue of $70.51 million for the quarter, compared to analyst estimates of $58.90 million. As a group, research analysts anticipate that GeneDx will post -0.75 earnings per share for the current year.

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.