Jefferies Financial Group Upgrades GeneDx (NASDAQ:WGS) to Buy

Jefferies Financial Group upgraded shares of GeneDx (NASDAQ:WGS) from a hold rating to a buy rating in a research report report published on Friday, MarketBeat Ratings reports. They currently have $80.00 price target on the stock.

WGS has been the subject of a number of other reports. Wells Fargo & Company reduced their price objective on shares of GeneDx from $105.00 to $78.00 and set an “equal weight” rating for the company in a research report on Thursday, May 1st. The Goldman Sachs Group upped their price objective on shares of GeneDx from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Finally, TD Securities reduced their price objective on shares of GeneDx from $135.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $86.57.

GeneDx Trading Up 4.6%

NASDAQ:WGS opened at $58.93 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. The firm has a 50-day moving average of $90.42 and a 200-day moving average of $82.98. The company has a market cap of $1.65 billion, a PE ratio of -30.07 and a beta of 1.96. GeneDx has a one year low of $19.16 and a one year high of $117.75.

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

Insider Buying and Selling at GeneDx

In other GeneDx news, CFO Kevin Feeley sold 388 shares of the business’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $113.09, for a total value of $43,878.92. Following the transaction, the chief financial officer now directly owns 3,337 shares in the company, valued at $377,381.33. The trade was a 10.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Katherine Stueland sold 10,559 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $96.71, for a total transaction of $1,021,160.89. Following the completion of the transaction, the chief executive officer now owns 14,865 shares in the company, valued at approximately $1,437,594.15. The trade was a 41.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 139,390 shares of company stock worth $13,043,288 over the last three months. 27.30% of the stock is currently owned by insiders.

Institutional Trading of GeneDx

A number of institutional investors have recently modified their holdings of WGS. Barclays PLC lifted its stake in shares of GeneDx by 346.3% during the 3rd quarter. Barclays PLC now owns 18,921 shares of the company’s stock valued at $803,000 after buying an additional 14,681 shares in the last quarter. Tidal Investments LLC purchased a new stake in shares of GeneDx during the 3rd quarter valued at approximately $514,000. JPMorgan Chase & Co. lifted its stake in shares of GeneDx by 617.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 52,161 shares of the company’s stock valued at $2,214,000 after buying an additional 44,889 shares in the last quarter. MCF Advisors LLC lifted its stake in shares of GeneDx by 107.7% during the 4th quarter. MCF Advisors LLC now owns 351 shares of the company’s stock valued at $27,000 after buying an additional 182 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in shares of GeneDx by 147,085.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 50,043 shares of the company’s stock valued at $3,846,000 after buying an additional 50,009 shares in the last quarter. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

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.