GeneDx (NASDAQ:WGS) Stock Rating Upgraded by Wall Street Zen

GeneDx (NASDAQ:WGS) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

A number of other brokerages have also issued reports on WGS. 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 research note on Friday, December 12th. Canaccord Genuity Group lifted their price objective on GeneDx from $160.00 to $170.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Guggenheim reiterated a “buy” rating and set a $170.00 target price (up previously from $115.00) on shares of GeneDx in a research report on Wednesday, October 29th. Weiss Ratings reissued a “sell (d)” rating on shares of GeneDx in a research note on Wednesday, January 21st. Finally, Wells Fargo & Company set a $155.00 price target on GeneDx and gave the company an “equal weight” rating in a research note on Monday, December 15th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $138.13.

GeneDx Price Performance

Shares of NASDAQ WGS opened at $96.26 on Friday. The stock has a fifty day moving average price of $133.71 and a 200 day moving average price of $124.27. GeneDx has a 1-year low of $55.17 and a 1-year high of $170.87. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.71 and a quick ratio of 2.59. The company has a market cap of $2.78 billion, a PE ratio of 1,069.56 and a beta of 2.01.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.21. GeneDx had a net margin of 0.52% and a return on equity of 20.22%. The company had revenue of $116.74 million during the quarter, compared to the consensus estimate of $104.33 million. Sell-side analysts forecast that GeneDx will post 0.97 EPS for the current year.

Insider Activity

In related news, CEO Katherine Stueland sold 10,857 shares of GeneDx 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 completion of the transaction, the chief executive officer directly owned 14,237 shares of the company’s stock, valued at approximately $2,048,561.93. The trade was a 43.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Joshua Ruch sold 38,000 shares of the business’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $160.37, for a total value of $6,094,060.00. Following the sale, the director owned 11,941 shares in the company, valued at approximately $1,914,978.17. The trade was a 76.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 57,617 shares of company stock worth $8,992,161. Company insiders own 29.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Rhumbline Advisers raised its position in shares of GeneDx by 42.7% in the second quarter. Rhumbline Advisers now owns 27,610 shares of the company’s stock valued at $2,549,000 after buying an additional 8,258 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in GeneDx during the second quarter worth approximately $589,000. Legal & General Group Plc grew its stake in GeneDx by 55.9% in the 2nd quarter. Legal & General Group Plc now owns 22,271 shares of the company’s stock worth $2,056,000 after acquiring an additional 7,987 shares during the period. Legal Advantage Investments Inc. raised its holdings in GeneDx by 19.8% in the 2nd quarter. Legal Advantage Investments Inc. now owns 60,600 shares of the company’s stock valued at $5,594,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Slow Capital Inc. purchased a new position in shares of GeneDx during the 2nd quarter worth $3,614,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

About GeneDx

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.