GeneDx Holdings Corp. (NASDAQ:WGS) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) have been given a consensus recommendation of “Moderate Buy” by the six brokerages that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $72.33.

Several research analysts recently commented on WGS shares. The Goldman Sachs Group raised their price target on shares of GeneDx from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. TD Cowen lifted their price target on shares of GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th.

Insider Activity

In other GeneDx news, CEO Katherine Stueland sold 2,731 shares of GeneDx stock in a transaction on Monday, March 10th. The shares were sold at an average price of $94.73, for a total value of $258,707.63. Following the transaction, the chief executive officer now directly owns 7,752 shares of the company’s stock, valued at approximately $734,346.96. The trade was a 26.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin Feeley sold 922 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $94.72, for a total value of $87,331.84. Following the transaction, the chief financial officer now directly owns 5,446 shares in the company, valued at approximately $515,845.12. The trade was a 14.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 76,670 shares of company stock worth $7,301,418. Corporate insiders own 27.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in WGS. Vanguard Group Inc. grew its stake in shares of GeneDx by 18.5% during the fourth quarter. Vanguard Group Inc. now owns 1,006,210 shares of the company’s stock worth $77,337,000 after acquiring an additional 156,768 shares during the last quarter. Summit Partners Public Asset Management LLC boosted its stake in GeneDx by 336.9% in the 4th quarter. Summit Partners Public Asset Management LLC now owns 755,564 shares of the company’s stock worth $58,073,000 after purchasing an additional 582,619 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in GeneDx during the 4th quarter worth approximately $51,496,000. Lord Abbett & CO. LLC acquired a new position in GeneDx during the 4th quarter valued at approximately $48,458,000. Finally, Fred Alger Management LLC raised its holdings in shares of GeneDx by 38.5% in the fourth quarter. Fred Alger Management LLC now owns 546,054 shares of the company’s stock worth $41,970,000 after buying an additional 151,824 shares during the last quarter. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

GeneDx Stock Up 1.4 %

Shares of NASDAQ WGS opened at $85.96 on Wednesday. The company has a market cap of $2.41 billion, a P/E ratio of -43.86 and a beta of 1.93. The firm has a 50-day simple moving average of $88.65 and a two-hundred day simple moving average of $76.78. GeneDx has a 1 year low of $8.63 and a 1 year high of $115.60. 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 posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.66. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. The company had revenue of $95.64 million during the quarter, compared to analysts’ expectations of $82.24 million. Research analysts anticipate that GeneDx will post 0.97 earnings per share for the current 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.