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

GeneDx Holdings Corp. (NASDAQ:WGS) has been assigned an average rating of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $72.33.

WGS has been the subject of a number of analyst reports. TD Cowen boosted their price target on GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. The Goldman Sachs Group boosted their price target on GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th.

Insider Activity at GeneDx

In related news, CEO Katherine Stueland sold 18,006 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $78.18, for a total value of $1,407,709.08. Following the sale, the chief executive officer now directly owns 53,140 shares in the company, valued at $4,154,485.20. This represents a 25.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 value of $108,737.20. Following the completion of the sale, the chief financial officer now owns 26,770 shares in the company, valued at $2,035,590.80. The trade was a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,735 shares of company stock worth $11,719,787 over the last ninety days. Insiders own 27.30% of the company’s stock.

Hedge Funds Weigh In On GeneDx

Several institutional investors have recently added to or reduced their stakes in the business. MCF Advisors LLC raised its position in shares of GeneDx by 107.7% during the fourth quarter. MCF Advisors LLC now owns 351 shares of the company’s stock worth $27,000 after purchasing an additional 182 shares during the period. Sterling Capital Management LLC raised its position in shares of GeneDx by 877.8% during 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 during the period. Global Retirement Partners LLC acquired a new position in shares of GeneDx during the fourth quarter worth approximately $28,000. Lazard Asset Management LLC acquired a new position in shares of GeneDx during the fourth quarter worth approximately $35,000. Finally, Comerica Bank acquired a new position in shares of GeneDx during the fourth quarter worth approximately $50,000. 61.72% of the stock is owned by institutional investors and hedge funds.

GeneDx Trading Up 7.3 %

Shares of GeneDx stock opened at $97.44 on Friday. The business has a fifty day simple moving average of $84.59 and a two-hundred day simple moving average of $70.97. GeneDx has a 1 year low of $8.03 and a 1 year high of $115.60. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of -49.71 and a beta of 1.91. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27.

GeneDx (NASDAQ:WGS) last posted its earnings results on Tuesday, February 18th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.66. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. The company had revenue of $95.64 million during the quarter, compared to the consensus estimate of $82.24 million. Research analysts forecast 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.