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

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) have earned an average recommendation of “Moderate Buy” from the nine brokerages that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $92.33.

A number of research firms have recently issued reports on WGS. TD Securities cut their target price on shares of GeneDx from $135.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Wall Street Zen cut shares of GeneDx from a “buy” rating to a “hold” rating in a research note on Sunday, July 13th. Jefferies Financial Group upgraded shares of GeneDx from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research note on Friday, May 9th. Piper Sandler began coverage on shares of GeneDx in a research note on Wednesday, July 9th. They issued an “overweight” rating and a $110.00 target price for the company. Finally, Guggenheim reiterated a “buy” rating and issued a $115.00 target price (up previously from $88.00) on shares of GeneDx in a research note on Monday, June 30th.

Insider Buying and Selling

In other GeneDx news, CFO Kevin Feeley sold 5,278 shares of the company’s stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $93.00, for a total transaction of $490,854.00. Following the completion of the sale, the chief financial officer owned 3,392 shares in the company, valued at approximately $315,456. The trade was a 60.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Katherine Stueland sold 9,657 shares of the company’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $90.94, for a total transaction of $878,207.58. Following the sale, the chief executive officer owned 4,940 shares of the company’s stock, valued at $449,243.60. The trade was a 66.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,411 shares of company stock worth $2,104,828 in the last quarter. Insiders own 29.60% of the company’s stock.

Institutional Trading of GeneDx

Several institutional investors and hedge funds have recently made changes to their positions in WGS. GAMMA Investing LLC grew its holdings in shares of GeneDx by 151.7% in the 1st quarter. GAMMA Investing LLC now owns 438 shares of the company’s stock valued at $39,000 after buying an additional 264 shares during the period. Palisades Investment Partners LLC grew its holdings in shares of GeneDx by 0.4% in the 1st quarter. Palisades Investment Partners LLC now owns 83,913 shares of the company’s stock valued at $7,432,000 after buying an additional 309 shares during the period. Sterling Capital Management LLC grew its holdings in shares of GeneDx by 877.8% in the 4th quarter. Sterling Capital Management LLC now owns 352 shares of the company’s stock valued at $27,000 after buying an additional 316 shares during the period. MetLife Investment Management LLC grew its holdings in shares of GeneDx by 6.2% in the 4th quarter. MetLife Investment Management LLC now owns 7,750 shares of the company’s stock valued at $596,000 after buying an additional 453 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of GeneDx by 6.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,641 shares of the company’s stock valued at $677,000 after buying an additional 453 shares during the period. Institutional investors own 61.72% of the company’s stock.

GeneDx Stock Down 0.1%

NASDAQ WGS opened at $80.42 on Friday. The company has a current ratio of 3.25, a quick ratio of 3.07 and a debt-to-equity ratio of 0.20. The stock’s 50 day moving average is $75.12 and its two-hundred day moving average is $82.78. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of -57.04 and a beta of 2.01. GeneDx has a 1-year low of $25.32 and a 1-year high of $117.75.

GeneDx (NASDAQ:WGS) last posted its earnings results on Wednesday, April 30th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $79.90 million. Equities analysts forecast that GeneDx will post 0.97 earnings per share for the current fiscal 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.