GeneDx (NASDAQ:WGS) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of GeneDx (NASDAQ:WGS) from a hold rating to a buy rating in a report issued on Saturday.

Several other brokerages also recently commented on WGS. TD Securities cut their price objective on shares of GeneDx from $135.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Guggenheim reissued a “buy” rating and set a $115.00 price objective (up from $88.00) on shares of GeneDx in a research report on Monday, June 30th. Wells Fargo & Company dropped their price target on shares of GeneDx from $105.00 to $78.00 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. Finally, Jefferies Financial Group raised shares of GeneDx from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a report on Friday, May 9th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $90.13.

GeneDx Stock Performance

Shares of WGS stock opened at $91.61 on Friday. GeneDx has a one year low of $25.32 and a one year high of $117.75. The company’s 50-day moving average is $73.36 and its 200 day moving average is $82.39. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of -64.97 and a beta of 2.01. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.07 and a current ratio of 3.25.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.11 by $0.17. GeneDx had a negative net margin of 11.69% and a positive return on equity of 10.17%. The company had revenue of $87.12 million for the quarter, compared to the consensus estimate of $79.90 million. Sell-side analysts expect that GeneDx will post 0.97 EPS for the current fiscal year.

Insider Activity

In related news, CEO Katherine Stueland sold 9,657 shares of the firm’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $90.94, for a total value of $878,207.58. Following the transaction, the chief executive officer owned 4,940 shares of the company’s stock, valued at approximately $449,243.60. This trade represents a 66.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Keith A. Meister acquired 100,000 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The stock was acquired at an average cost of $56.01 per share, for a total transaction of $5,601,000.00. Following the acquisition, the director owned 3,008,629 shares of the company’s stock, valued at $168,513,310.29. The trade was a 3.44% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 76,023 shares of company stock valued at $6,920,533 in the last 90 days. 29.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On GeneDx

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Voya Investment Management LLC boosted its holdings in shares of GeneDx by 79.5% in the first quarter. Voya Investment Management LLC now owns 6,819 shares of the company’s stock worth $604,000 after buying an additional 3,021 shares during the last quarter. Strs Ohio purchased a new position in shares of GeneDx in the first quarter worth approximately $230,000. Ellsworth Advisors LLC purchased a new position in shares of GeneDx in the first quarter worth approximately $1,414,000. Acadian Asset Management LLC boosted its holdings in shares of GeneDx by 1.6% in the first quarter. Acadian Asset Management LLC now owns 36,182 shares of the company’s stock worth $3,199,000 after buying an additional 567 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of GeneDx by 67.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 28,224 shares of the company’s stock worth $2,500,000 after buying an additional 11,375 shares during the last quarter. Hedge funds and other institutional investors own 61.72% of the company’s stock.

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.