GeneDx Holdings Corp. (NASDAQ:WGS) Receives $72.33 Consensus Target Price from Brokerages

GeneDx Holdings Corp. (NASDAQ:WGS) has been assigned an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $72.33.

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

Insiders Place Their Bets

In other GeneDx news, CFO Kevin Feeley sold 3,749 shares of GeneDx stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $96.71, for a total transaction of $362,565.79. Following the transaction, the chief financial officer now directly owns 8,492 shares of the company’s stock, valued at approximately $821,261.32. The trade was a 30.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Katherine Stueland sold 51,420 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $94.48, for a total value of $4,858,161.60. Following the completion of the sale, the chief executive officer now directly owns 1,720 shares of the company’s stock, valued at approximately $162,505.60. The trade was a 96.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,735 shares of company stock valued at $11,719,787 in the last ninety days. 27.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GeneDx

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

GeneDx Price Performance

NASDAQ:WGS opened at $104.39 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of -53.26 and a beta of 1.91. GeneDx has a 52 week low of $8.10 and a 52 week high of $115.60. The firm’s 50-day simple moving average is $84.89 and its 200 day simple moving average is $71.65.

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 business had revenue of $95.64 million during the quarter, compared to analysts’ expectations of $82.24 million. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. As a group, sell-side analysts predict that GeneDx will post 0.97 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.