Brokerages Set GeneDx Holdings Corp. (NASDAQ:WGS) Price Target at $72.33

GeneDx Holdings Corp. (NASDAQ:WGS) has been assigned a consensus rating of “Moderate Buy” from the six analysts that are covering the stock, 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 price target among brokerages that have issued ratings on the stock in the last year is $72.33.

WGS has been the topic of a number of recent research reports. The Goldman Sachs Group raised their price objective on 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 objective 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 at GeneDx

In related news, CEO Katherine Stueland sold 18,006 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $78.18, for a total value of $1,407,709.08. Following the completion of the transaction, the chief executive officer now owns 53,140 shares in the company, valued at $4,154,485.20. This trade represents a 25.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevin Feeley sold 1,430 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $76.04, for a total transaction of $108,737.20. Following the completion of the transaction, the chief financial officer now owns 26,770 shares of the company’s stock, valued at approximately $2,035,590.80. This trade represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 127,735 shares of company stock valued at $11,719,787 in the last quarter. Insiders own 27.30% of the company’s stock.

Hedge Funds Weigh In On GeneDx

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. bought a new position in GeneDx during the third quarter worth $604,000. GSA Capital Partners LLP acquired a new stake in GeneDx during the 3rd quarter worth about $322,000. Royce & Associates LP bought a new position in shares of GeneDx in the 3rd quarter worth about $1,201,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of GeneDx in the 3rd quarter valued at about $2,547,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of GeneDx by 304.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 147,034 shares of the company’s stock valued at $6,240,000 after purchasing an additional 110,666 shares in the last quarter. 61.72% of the stock is owned by institutional investors and hedge funds.

GeneDx Stock Performance

WGS opened at $94.46 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. The company has a market capitalization of $2.65 billion, a PE ratio of -48.19 and a beta of 1.91. The business has a fifty day simple moving average of $84.69 and a 200 day simple moving average of $70.37. GeneDx has a 1 year low of $7.72 and a 1 year high of $115.60.

GeneDx (NASDAQ:WGS) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.66. The business had revenue of $95.64 million for the quarter, compared to analyst estimates of $82.24 million. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. Research analysts expect that GeneDx will post 0.97 EPS 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.