Brokerages Set GeneDx Holdings Corp. (NASDAQ:WGS) PT at $78.14

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) have been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $78.14.

WGS has been the subject of a number of recent research reports. TD Cowen increased their price objective on shares of GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Wells Fargo & Company cut their price target on GeneDx from $105.00 to $78.00 and set an “equal weight” rating for the company in a report on Thursday, May 1st. TD Securities dropped their target price on GeneDx from $135.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Finally, The Goldman Sachs Group boosted their target price on shares of GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th.

Insider Buying and Selling

In other news, CEO Katherine Stueland sold 46,594 shares of the firm’s stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $89.62, for a total value of $4,175,754.28. Following the completion of the transaction, the chief executive officer now owns 1,720 shares of the company’s stock, valued at approximately $154,146.40. This trade represents a 96.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kevin Feeley sold 922 shares of GeneDx stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $94.72, for a total transaction of $87,331.84. Following the completion of the transaction, the chief financial officer now owns 5,446 shares of the company’s stock, valued at $515,845.12. This trade represents a 14.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 139,390 shares of company stock valued at $13,043,288. Company insiders own 27.30% of the company’s stock.

Hedge Funds Weigh In On GeneDx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. William Blair Investment Management LLC acquired a new position in GeneDx during the 4th quarter worth $51,496,000. Lord Abbett & CO. LLC purchased a new position in shares of GeneDx in the 4th quarter valued at about $48,458,000. Summit Partners Public Asset Management LLC grew its position in shares of GeneDx by 336.9% during the fourth quarter. Summit Partners Public Asset Management LLC now owns 755,564 shares of the company’s stock worth $58,073,000 after buying an additional 582,619 shares in the last quarter. Science & Technology Partners L.P. purchased a new stake in shares of GeneDx during the fourth quarter worth approximately $30,821,000. Finally, Zweig DiMenna Associates LLC acquired a new stake in GeneDx in the fourth quarter valued at approximately $23,788,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

GeneDx Price Performance

Shares of GeneDx stock opened at $63.27 on Friday. The stock has a market capitalization of $1.78 billion, a P/E ratio of -32.28 and a beta of 1.96. The business has a 50 day simple moving average of $92.89 and a two-hundred day simple moving average of $82.81. GeneDx has a 12 month low of $18.80 and a 12 month high of $117.75. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.17. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. The company had revenue of $87.12 million for the quarter, compared to analyst estimates of $79.90 million. As a group, analysts predict that GeneDx will post 0.97 EPS for the current fiscal 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.