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

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) have earned an average recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $133.1111.

WGS has been the topic of several research reports. Zacks Research lowered shares of GeneDx from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 2nd. Wells Fargo & Company raised their target price on shares of GeneDx from $95.00 to $140.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 4th. Weiss Ratings reiterated a “sell (d)” rating on shares of GeneDx in a report on Wednesday, October 8th. Guggenheim reiterated a “buy” rating and issued a $170.00 price target (up from $115.00) on shares of GeneDx in a research note on Wednesday, October 29th. Finally, Canaccord Genuity Group set a $160.00 price objective on GeneDx and gave the company a “buy” rating in a report on Wednesday, October 29th.

Insider Activity

In related news, CEO Katherine Stueland sold 3,639 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $159.28, for a total value of $579,619.92. Following the completion of the transaction, the chief executive officer owned 6,344 shares in the company, valued at $1,010,472.32. This trade represents a 36.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joshua Ruch sold 38,000 shares of GeneDx stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $160.37, for a total transaction of $6,094,060.00. Following the sale, the director owned 11,941 shares in the company, valued at approximately $1,914,978.17. This represents a 76.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 59,680 shares of company stock valued at $8,951,356. 29.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GeneDx

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp lifted its holdings in shares of GeneDx by 664.3% during the third quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock worth $25,000 after purchasing an additional 186 shares during the period. Quarry LP increased its holdings in GeneDx by 248.8% in the third quarter. Quarry LP now owns 293 shares of the company’s stock valued at $32,000 after purchasing an additional 209 shares during the period. US Bancorp DE raised its position in GeneDx by 3,223.5% during the 1st quarter. US Bancorp DE now owns 565 shares of the company’s stock worth $50,000 after purchasing an additional 548 shares during the last quarter. Gordian Capital Singapore Pte Ltd bought a new position in GeneDx during the 3rd quarter worth $65,000. Finally, AlphaQuest LLC lifted its holdings in GeneDx by 351.5% during the 2nd quarter. AlphaQuest LLC now owns 763 shares of the company’s stock worth $70,000 after buying an additional 594 shares during the period. 61.72% of the stock is currently owned by institutional investors and hedge funds.

GeneDx Price Performance

Shares of WGS stock opened at $151.51 on Monday. The business has a fifty day simple moving average of $139.26 and a 200 day simple moving average of $114.15. The company has a market cap of $4.38 billion, a P/E ratio of 1,683.44 and a beta of 1.98. The company has a quick ratio of 2.59, a current ratio of 2.71 and a debt-to-equity ratio of 0.18. GeneDx has a twelve month low of $55.17 and a twelve month high of $170.87.

GeneDx (NASDAQ:WGS) last released its earnings results on Tuesday, October 28th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.21. The firm had revenue of $116.74 million for the quarter, compared to analysts’ expectations of $104.33 million. GeneDx had a return on equity of 20.22% and a net margin of 0.52%. On average, sell-side analysts forecast that GeneDx will post 0.97 EPS for the current fiscal 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.