Brokerages Set GeneDx Holdings Corp. (NASDAQ:WGS) Price Target at $70.67

GeneDx Holdings Corp. (NASDAQ:WGS) has been assigned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $72.33.

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group upped their target price on shares of GeneDx from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday. Craig Hallum boosted their target price on GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company raised their price objective on GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, TD Cowen lifted their price target on GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th.

Insider Transactions at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 1,657 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $78.48, for a total transaction of $130,041.36. Following the transaction, the chief executive officer now directly owns 3,937 shares in the company, valued at approximately $308,975.76. This represents a 29.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kevin Feeley sold 1,137 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $76.37, for a total value of $86,832.69. Following the completion of the transaction, the chief financial officer now directly owns 24,731 shares of the company’s stock, valued at $1,888,706.47. The trade was a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 127,584 shares of company stock worth $11,336,520. Company insiders own 27.30% of the company’s stock.

Institutional Investors Weigh In On GeneDx

Large investors have recently bought and sold shares of the stock. MCF Advisors LLC grew its stake in GeneDx by 107.7% in the 4th quarter. MCF Advisors LLC now owns 351 shares of the company’s stock worth $27,000 after acquiring an additional 182 shares during the period. Sterling Capital Management LLC raised its holdings in GeneDx by 877.8% in the fourth quarter. Sterling Capital Management LLC now owns 352 shares of the company’s stock valued at $27,000 after buying an additional 316 shares during the period. Global Retirement Partners LLC purchased a new position in shares of GeneDx in the 4th quarter valued at $28,000. MetLife Investment Management LLC lifted its stake in shares of GeneDx by 6.2% during the fourth quarter. MetLife Investment Management LLC now owns 7,750 shares of the company’s stock worth $596,000 after purchasing an additional 453 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in GeneDx during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

GeneDx Trading Down 8.7 %

WGS opened at $101.58 on Tuesday. The stock has a market capitalization of $2.79 billion, a PE ratio of -51.83 and a beta of 2.01. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. GeneDx has a one year low of $4.61 and a one year high of $115.60. The business’s 50 day moving average price is $78.64 and its 200 day moving average price is $62.41.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.66. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. The firm had revenue of $95.64 million during the quarter, compared to analysts’ expectations of $82.24 million. As a group, equities research analysts expect that GeneDx will post 0.52 EPS for the current year.

About GeneDx

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.