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

GeneDx Holdings Corp. (NASDAQ:WGS) has earned an average rating of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $41.67.

WGS has been the topic of several analyst reports. TD Cowen increased their price target on shares of GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. BTIG Research increased their price target on shares of GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Craig Hallum increased their price target on shares of GeneDx from $43.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group raised their target price on shares of GeneDx from $32.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company started coverage on shares of GeneDx in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $34.00 target price on the stock.

Insider Buying and Selling at GeneDx

In other news, major shareholder Opko Health, Inc. sold 75,000 shares of GeneDx stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $33.72, for a total transaction of $2,529,000.00. Following the transaction, the insider now owns 3,183,403 shares in the company, valued at approximately $107,344,349.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Kevin Feeley sold 895 shares of GeneDx stock in a transaction on Monday, September 9th. The shares were sold at an average price of $33.33, for a total transaction of $29,830.35. Following the transaction, the chief financial officer now owns 39,910 shares in the company, valued at approximately $1,330,200.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Opko Health, Inc. sold 75,000 shares of GeneDx stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $33.72, for a total transaction of $2,529,000.00. Following the transaction, the insider now directly owns 3,183,403 shares of the company’s stock, valued at $107,344,349.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 543,668 shares of company stock worth $18,104,988 over the last quarter. Corporate insiders own 28.10% of the company’s stock.

Hedge Funds Weigh In On GeneDx

A number of hedge funds have recently bought and sold shares of the company. Raymond James & Associates bought a new position in GeneDx during the third quarter worth $8,090,000. CWM LLC bought a new position in GeneDx during the third quarter worth $89,000. SG Americas Securities LLC bought a new stake in GeneDx in the third quarter valued at $198,000. Point72 Asset Management L.P. increased its stake in GeneDx by 227.4% in the second quarter. Point72 Asset Management L.P. now owns 156,745 shares of the company’s stock valued at $4,097,000 after purchasing an additional 108,864 shares in the last quarter. Finally, Algert Global LLC bought a new stake in GeneDx in the second quarter valued at $356,000. Institutional investors own 61.72% of the company’s stock.

GeneDx Stock Up 7.2 %

Shares of WGS opened at $60.05 on Wednesday. The company has a current ratio of 2.38, a quick ratio of 2.22 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $1.57 billion, a PE ratio of -11.59 and a beta of 2.32. The firm’s 50 day moving average is $40.84 and its 200-day moving average is $29.54. GeneDx has a 12 month low of $1.16 and a 12 month high of $61.96.

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