Keith Meister Buys 165,000 Shares of GeneDx (NASDAQ:WGS) Stock

GeneDx Holdings Corp. (NASDAQ:WGS) Director Keith Meister purchased 165,000 shares of the stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average cost of $39.09 per share, for a total transaction of $6,449,850.00. Following the transaction, the director owned 4,598,297 shares in the company, valued at approximately $179,747,429.73. The trade was a 3.72% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

GeneDx Trading Up 4.9%

Shares of WGS stock opened at $40.75 on Friday. The company’s 50-day moving average price is $64.01 and its 200-day moving average price is $102.00. The company has a current ratio of 3.09, a quick ratio of 2.95 and a debt-to-equity ratio of 0.38. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of -15.21 and a beta of 2.06. GeneDx Holdings Corp. has a twelve month low of $32.21 and a twelve month high of $170.87.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings results on Monday, May 4th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.22). The firm had revenue of $102.25 million for the quarter, compared to analyst estimates of $112.46 million. GeneDx had a negative net margin of 17.58% and a positive return on equity of 9.15%. During the same period in the previous year, the firm posted ($0.23) EPS. As a group, equities analysts predict that GeneDx Holdings Corp. will post -1 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its position in GeneDx by 4.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,220,502 shares of the company’s stock valued at $158,738,000 after buying an additional 52,322 shares during the last quarter. Vanguard Group Inc. lifted its position in GeneDx by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 1,189,069 shares of the company’s stock valued at $154,650,000 after buying an additional 18,647 shares during the last quarter. Franklin Resources Inc. lifted its position in GeneDx by 60.4% in the fourth quarter. Franklin Resources Inc. now owns 1,092,988 shares of the company’s stock valued at $142,154,000 after buying an additional 411,607 shares during the last quarter. Westfield Capital Management Co. LP lifted its position in GeneDx by 87.1% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,018,261 shares of the company’s stock valued at $132,435,000 after buying an additional 474,167 shares during the last quarter. Finally, Invesco Ltd. lifted its position in GeneDx by 59.2% in the fourth quarter. Invesco Ltd. now owns 786,466 shares of the company’s stock valued at $102,288,000 after buying an additional 292,394 shares during the last quarter. Institutional investors and hedge funds own 61.72% of the company’s stock.

Trending Headlines about GeneDx

Here are the key news stories impacting GeneDx this week:

• Positive Sentiment: Director Keith A. Meister kept buying shares, including 165,000 shares on May 13, 140,000 shares on May 14, and 46,273 shares on May 15, signaling strong insider confidence in GeneDx’s outlook and helping support the stock. Insider trade filing
• Neutral Sentiment: GeneDx received an average brokerage recommendation of “Moderate Buy,” suggesting Wall Street still sees upside despite the recent volatility. Brokerage recommendation article
• Negative Sentiment: A legal update from Pomerantz LLP said it is investigating claims on behalf of GeneDx investors, adding overhang from possible shareholder litigation after the company’s recent results. Pomerantz investigation article
• Negative Sentiment: Another law firm, Levi & Korsinsky, announced a securities investigation tied to GeneDx’s Q1 revenue miss and reduced full-year guidance, reinforcing concerns that the post-earnings selloff may not be over. Levi & Korsinsky investigation article
• Negative Sentiment: An analyst note cut GeneDx’s price target sharply to $98.94, highlighting a more cautious view after the company’s disappointing quarter. Price target cut article

Analyst Upgrades and Downgrades

WGS has been the topic of several recent research reports. BTIG Research lowered their price target on shares of GeneDx from $170.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Zacks Research cut shares of GeneDx from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. Wells Fargo & Company reissued an “overweight” rating and set a $75.00 price target (down from $155.00) on shares of GeneDx in a research report on Tuesday, May 5th. Jefferies Financial Group set a $150.00 price target on shares of GeneDx in a research report on Monday, February 23rd. Finally, Guggenheim decreased their target price on shares of GeneDx from $100.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $96.43.

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.