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

GeneDx Holdings Corp. (NASDAQ:WGS) has been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $138.1250.

WGS has been the topic of a number of research analyst reports. Piper Sandler boosted their target price on GeneDx from $120.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, September 11th. Wells Fargo & Company set a $155.00 price target on GeneDx and gave the stock an “equal weight” rating in a report on Monday, December 15th. Zacks Research downgraded GeneDx from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 2nd. Wall Street Zen lowered GeneDx from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, BTIG Research boosted their price target on shares of GeneDx from $165.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, December 12th.

GeneDx Stock Performance

NASDAQ WGS opened at $137.47 on Friday. The company has a fifty day moving average price of $143.51 and a 200-day moving average price of $122.34. The firm has a market cap of $3.97 billion, a price-to-earnings ratio of 1,527.44 and a beta of 2.01. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.71 and a quick ratio of 2.59. GeneDx has a 1 year low of $55.17 and a 1 year high of $170.87.

GeneDx (NASDAQ:WGS) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.21. GeneDx had a net margin of 0.52% and a return on equity of 20.22%. The business had revenue of $116.74 million for the quarter, compared to analysts’ expectations of $104.33 million. As a group, equities research analysts predict that GeneDx will post 0.97 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Katherine Stueland sold 10,857 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $143.89, for a total transaction of $1,562,213.73. Following the transaction, the chief executive officer owned 14,237 shares of the company’s stock, valued at $2,048,561.93. This represents a 43.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin Feeley sold 3,855 shares of GeneDx stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $143.87, for a total value of $554,618.85. Following the completion of the sale, the chief financial officer directly owned 8,731 shares of the company’s stock, valued at approximately $1,256,128.97. This trade represents a 30.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 60,163 shares of company stock valued at $9,339,792. Company insiders own 29.60% of the company’s stock.

Institutional Investors Weigh In On GeneDx

Institutional investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. grew its position in GeneDx by 150.9% in the second quarter. Harbor Capital Advisors Inc. now owns 39,979 shares of the company’s stock worth $3,690,000 after acquiring an additional 24,042 shares in the last quarter. Rhumbline Advisers raised its position in GeneDx by 42.7% during the second quarter. Rhumbline Advisers now owns 27,610 shares of the company’s stock valued at $2,549,000 after purchasing an additional 8,258 shares in the last quarter. MRA Advisory Group bought a new stake in GeneDx during the second quarter worth about $298,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of GeneDx in the 1st quarter worth about $488,000. Finally, Perigon Wealth Management LLC purchased a new position in shares of GeneDx in the 2nd quarter worth about $479,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

GeneDx Company Profile

GeneDx is a clinical diagnostics company specializing in comprehensive genetic and genomic testing for rare and inherited disorders. The company offers a broad portfolio of assays, including targeted gene panels, whole exome sequencing, whole genome sequencing and chromosomal microarray analysis. GeneDx’s laboratory services support the diagnosis of a wide range of conditions—from rare pediatric diseases and hereditary cancer syndromes to neuromuscular and metabolic disorders—by providing clinicians with detailed variant interpretation and reporting.

Founded in 2000 and based in Gaithersburg, Maryland, GeneDx was established with the aim of accelerating the translation of genomic discoveries into clinical care.