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

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) have been given an average rating of “Moderate Buy” by the eight ratings firms that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $101.6250.

A number of research firms have weighed in on WGS. Piper Sandler set a $120.00 price target on shares of GeneDx and gave the stock an “overweight” rating in a research note on Monday, August 4th. TD Securities decreased their price target on shares of GeneDx from $135.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Wall Street Zen upgraded shares of GeneDx from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Jefferies Financial Group raised GeneDx from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research note on Friday, May 9th. Finally, Wells Fargo & Company boosted their price target on GeneDx from $78.00 to $95.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 30th.

Insider Buying and Selling at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 2,154 shares of the business’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $105.31, for a total value of $226,837.74. Following the transaction, the chief executive officer owned 3,440 shares of the company’s stock, valued at approximately $362,266.40. The trade was a 38.51% 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 this hyperlink. Also, CFO Kevin Feeley sold 388 shares of the business’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $105.31, for a total value of $40,860.28. Following the completion of the transaction, the chief financial officer directly owned 3,757 shares in the company, valued at approximately $395,649.67. This represents a 9.36% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,411 shares of company stock worth $2,085,051. 29.60% of the stock is owned by insiders.

Hedge Funds Weigh In On GeneDx

Institutional investors and hedge funds have recently bought and sold shares of the business. Sterling Capital Management LLC boosted its stake in GeneDx by 877.8% in the fourth quarter. Sterling Capital Management LLC now owns 352 shares of the company’s stock worth $27,000 after purchasing an additional 316 shares in the last quarter. Lazard Asset Management LLC acquired a new position in GeneDx in the fourth quarter worth $35,000. GAMMA Investing LLC boosted its stake in GeneDx by 151.7% in the first quarter. GAMMA Investing LLC now owns 438 shares of the company’s stock worth $39,000 after purchasing an additional 264 shares in the last quarter. Comerica Bank acquired a new position in shares of GeneDx during the fourth quarter valued at $50,000. Finally, US Bancorp DE lifted its stake in shares of GeneDx by 3,223.5% during the first quarter. US Bancorp DE now owns 565 shares of the company’s stock valued at $50,000 after acquiring an additional 548 shares during the period. Institutional investors and hedge funds own 61.72% of the company’s stock.

GeneDx Stock Up 5.1%

Shares of WGS stock opened at $110.54 on Tuesday. GeneDx has a one year low of $28.86 and a one year high of $117.75. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.87 and a quick ratio of 2.70. The stock has a fifty day moving average price of $84.34 and a 200 day moving average price of $84.51. The stock has a market cap of $3.18 billion, a P/E ratio of 2,210.80 and a beta of 2.02.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.40. GeneDx had a net margin of 0.39% and a return on equity of 16.51%. The firm had revenue of $102.69 million for the quarter, compared to the consensus estimate of $86.00 million. Analysts predict 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.