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

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) have received a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $87.4286.

A number of brokerages have weighed in on WGS. Piper Sandler reiterated an “overweight” rating and issued a $63.00 price target (up from $50.00) on shares of GeneDx in a research report on Tuesday, June 23rd. Canaccord Genuity Group set a $75.00 target price on shares of GeneDx and gave the company a “buy” rating in a research note on Tuesday, May 5th. BTIG Research lowered their target price on shares of GeneDx from $170.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Guggenheim reiterated a “buy” rating and set a $74.00 target price (up from $70.00) on shares of GeneDx in a research report on Monday. Finally, Craig Hallum reissued a “buy” rating and set a $85.00 price target on shares of GeneDx in a report on Tuesday, May 5th.

Insider Activity

In other news, Director Keith A. Meister bought 46,273 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was bought at an average price of $38.91 per share, for a total transaction of $1,800,482.43. Following the completion of the purchase, the director owned 4,784,570 shares of the company’s stock, valued at approximately $186,167,618.70. The trade was a 0.98% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Katherine Stueland sold 10,501 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $60.77, for a total value of $638,145.77. Following the completion of the transaction, the chief executive officer directly owned 104,372 shares in the company, valued at $6,342,686.44. The trade was a 9.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders bought 2,256,420 shares of company stock valued at $93,144,340 and sold 21,699 shares valued at $1,295,646. 25.17% of the stock is currently owned by insiders.

Hedge Funds Weigh In On GeneDx

Several institutional investors have recently bought and sold shares of the business. ARK Investment Management LLC acquired a new position in GeneDx in the third quarter worth $48,157,000. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of GeneDx by 30.6% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 381,725 shares of the company’s stock valued at $49,647,000 after buying an additional 89,470 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of GeneDx by 937.3% in the fourth quarter. SG Americas Securities LLC now owns 63,181 shares of the company’s stock valued at $8,217,000 after buying an additional 57,090 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of GeneDx by 1,358.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 205,895 shares of the company’s stock valued at $26,779,000 after buying an additional 191,780 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of 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. Institutional investors own 61.72% of the company’s stock.

Key Headlines Impacting GeneDx

Here are the key news stories impacting GeneDx this week:

• Negative Sentiment: New class-action outreach and deadline reminders keep legal risk in focus for GeneDx Holdings Corp. (WGS), highlighting allegations tied to the Fabric Genomics deal and investor losses. Article: INVESTOR ALERT: GeneDx Holdings Corp. (WGS) Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit
• Negative Sentiment: Rosen Law Firm and other plaintiffs’ firms are continuing to solicit investors, suggesting the securities-fraud case is still active and may weigh on sentiment. Article: ROSEN, A TOP-RANKED LAW FIRM, Encourages GeneDx Holdings Corp. Investors to Secure Counsel Before Important Deadline in Securities Class Action – WGS
• Negative Sentiment: Zacks Research downgraded GeneDx from hold to strong sell, adding analyst pressure to the negative legal backdrop. Article: Zacks Research downgrade

GeneDx Stock Down 5.9%

Shares of WGS opened at $67.51 on Friday. The company has a quick ratio of 2.95, a current ratio of 3.09 and a debt-to-equity ratio of 0.38. The company has a 50-day moving average price of $54.42 and a two-hundred day moving average price of $80.06. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of -25.19 and a beta of 1.90. GeneDx has a 12 month low of $32.21 and a 12 month high of $170.87.

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

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.