GeneDx (WGS) – Analysts’ Recent Ratings Changes

GeneDx (NASDAQ: WGS) has recently received a number of price target changes and ratings updates:

• 4/30/2024 – GeneDx had its price target raised by analysts at TD Cowen from $14.00 to $24.00. They now have a “buy” rating on the stock.
• 4/30/2024 – GeneDx had its price target raised by analysts at BTIG Research from $15.00 to $19.00. They now have a “buy” rating on the stock.
• 4/22/2024 – GeneDx had its price target raised by analysts at BTIG Research from $11.00 to $15.00. They now have a “buy” rating on the stock.
• 4/15/2024 – GeneDx had its price target raised by analysts at The Goldman Sachs Group, Inc. to $11.00. They now have a “neutral” rating on the stock.

GeneDx Price Performance

NASDAQ:WGS opened at $17.07 on Wednesday. The business’s 50-day moving average price is $9.63 and its 200 day moving average price is $5.19. The firm has a market cap of $444.67 million, a P/E ratio of -2.29 and a beta of 2.75. The company has a quick ratio of 2.95, a current ratio of 3.10 and a debt-to-equity ratio of 0.23. GeneDx Holdings Corp. has a 52-week low of $1.16 and a 52-week high of $18.24.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($0.59) EPS for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.01. GeneDx had a negative return on equity of 49.64% and a negative net margin of 86.77%. The company had revenue of $57.42 million during the quarter, compared to the consensus estimate of $57.00 million. As a group, sell-side analysts predict that GeneDx Holdings Corp. will post -2.02 earnings per share for the current fiscal year.

Insider Buying and Selling at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 6,325 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $11.04, for a total value of $69,828.00. Following the completion of the sale, the chief executive officer now owns 75,869 shares in the company, valued at approximately $837,593.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Kevin Feeley sold 3,253 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $10.59, for a total value of $34,449.27. Following the transaction, the chief financial officer now owns 28,927 shares in the company, valued at $306,336.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Katherine Stueland sold 6,325 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $11.04, for a total transaction of $69,828.00. Following the completion of the sale, the chief executive officer now directly owns 75,869 shares of the company’s stock, valued at $837,593.76. The disclosure for this sale can be found here. Insiders have sold a total of 21,249 shares of company stock valued at $228,370 in the last 90 days. 28.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Oracle Investment Management Inc. raised its holdings in GeneDx by 14.9% in the 3rd quarter. Oracle Investment Management Inc. now owns 994,580 shares of the company’s stock worth $3,620,000 after acquiring an additional 128,731 shares during the period. HighTower Advisors LLC increased its stake in shares of GeneDx by 14.1% in the third quarter. HighTower Advisors LLC now owns 237,948 shares of the company’s stock worth $865,000 after purchasing an additional 29,361 shares during the period. Trellus Management Company LLC lifted its position in shares of GeneDx by 55.0% during the 3rd quarter. Trellus Management Company LLC now owns 155,012 shares of the company’s stock worth $564,000 after purchasing an additional 54,976 shares during the last quarter. Decheng Capital LLC bought a new stake in GeneDx during the 4th quarter valued at approximately $285,000. Finally, Pathstone Family Office LLC grew its holdings in GeneDx by 262.2% in the 3rd quarter. Pathstone Family Office LLC now owns 54,327 shares of the company’s stock valued at $198,000 after buying an additional 39,327 shares during the last quarter. Institutional investors and hedge funds own 61.72% of the company’s stock.

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.