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

GeneDx Holdings Corp. (NASDAQ:WGS) has earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $86.75.

Several research analysts have weighed in on the company. TD Securities dropped their target price on GeneDx from $135.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Wells Fargo & Company lowered their price target on shares of GeneDx from $105.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. The Goldman Sachs Group lifted their price objective 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. Guggenheim assumed coverage on shares of GeneDx in a research report on Thursday, May 15th. They set a “buy” rating and a $88.00 target price on the stock. Finally, Jefferies Financial Group raised shares of GeneDx from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a report on Friday, May 9th.

GeneDx Trading Up 0.0%

Shares of WGS stock opened at $70.02 on Thursday. GeneDx has a 12-month low of $19.54 and a 12-month high of $117.75. The company has a market capitalization of $2.00 billion, a PE ratio of -35.72 and a beta of 1.96. The firm has a 50 day moving average price of $83.05 and a two-hundred day moving average price of $82.20. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25.

GeneDx (NASDAQ:WGS) last announced its earnings results on Wednesday, April 30th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.17. The company had revenue of $87.12 million for the quarter, compared to analyst estimates of $79.90 million. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. As a group, analysts predict that GeneDx will post 0.97 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Kevin Feeley sold 388 shares of GeneDx stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $113.09, for a total value of $43,878.92. Following the transaction, the chief financial officer now owns 3,337 shares in the company, valued at approximately $377,381.33. This trade represents a 10.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Keith A. Meister purchased 100,000 shares of the stock in a transaction dated Thursday, May 8th. The shares were acquired at an average cost of $56.01 per share, with a total value of $5,601,000.00. Following the acquisition, the director now directly owns 3,008,629 shares in the company, valued at $168,513,310.29. This represents a 3.44% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 139,390 shares of company stock worth $13,043,288 over the last ninety days. Corporate insiders own 29.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. William Blair Investment Management LLC acquired a new stake in shares of GeneDx in the 4th quarter valued at approximately $51,496,000. Lord Abbett & CO. LLC bought a new position in GeneDx in the 4th quarter valued at approximately $48,458,000. Summit Partners Public Asset Management LLC boosted its position in GeneDx by 336.9% in the fourth quarter. Summit Partners Public Asset Management LLC now owns 755,564 shares of the company’s stock valued at $58,073,000 after buying an additional 582,619 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in shares of GeneDx during the first quarter worth $44,614,000. Finally, Alliancebernstein L.P. grew its stake in shares of GeneDx by 3,054.5% during the first quarter. Alliancebernstein L.P. now owns 436,900 shares of the company’s stock worth $38,694,000 after buying an additional 423,050 shares during the last quarter. Institutional investors and hedge funds own 61.72% of the company’s stock.

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.