Brokerages Set GeneDx Holdings Corp. (NASDAQ:WGS) Target Price at $138.13

GeneDx Holdings Corp. (NASDAQ:WGS) has been assigned an average recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $138.1250.

WGS has been the topic of several research analyst reports. Guggenheim reiterated a “buy” rating and set a $170.00 price objective (up from $115.00) on shares of GeneDx in a research report on Wednesday, October 29th. Weiss Ratings reiterated a “sell (d)” rating on shares of GeneDx in a report on Wednesday, January 21st. BTIG Research upped their price target on GeneDx from $165.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Wells Fargo & Company set a $155.00 price objective on GeneDx and gave the stock an “equal weight” rating in a research report on Monday, December 15th. Finally, Canaccord Genuity Group upped their target price on GeneDx from $160.00 to $170.00 and gave the company a “buy” rating in a report on Monday, December 22nd.

GeneDx Stock Performance

GeneDx stock opened at $84.08 on Tuesday. GeneDx has a fifty-two week low of $55.17 and a fifty-two week high of $170.87. The firm’s 50 day simple moving average is $127.79 and its 200-day simple moving average is $124.57. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.71 and a quick ratio of 2.59. The company has a market cap of $2.43 billion, a P/E ratio of 934.22 and a beta of 2.00.

Insider Activity at GeneDx

In related news, COO Bryan Dechairo sold 3,413 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $99.53, for a total transaction of $339,695.89. Following the completion of the sale, the chief operating officer directly owned 5,961 shares in the company, valued at approximately $593,298.33. This trade represents a 36.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Katherine Stueland sold 10,857 shares of the company’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $143.89, for a total value of $1,562,213.73. Following the completion of the transaction, the chief executive officer directly owned 14,237 shares in the company, valued at approximately $2,048,561.93. The trade was a 43.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 63,000 shares of company stock worth $9,517,034 in the last 90 days. 29.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System lifted its holdings in GeneDx by 2.1% in the 4th quarter. Arizona State Retirement System now owns 5,594 shares of the company’s stock worth $728,000 after purchasing an additional 113 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in GeneDx by 5.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,702 shares of the company’s stock valued at $399,000 after purchasing an additional 181 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of GeneDx by 664.3% in the third quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock valued at $25,000 after purchasing an additional 186 shares during the period. Quarry LP lifted its stake in shares of GeneDx by 248.8% in the third quarter. Quarry LP now owns 293 shares of the company’s stock worth $32,000 after buying an additional 209 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its holdings in shares of GeneDx by 9.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,922 shares of the company’s stock worth $380,000 after buying an additional 246 shares during the period. Institutional investors and hedge funds own 61.72% of the company’s stock.

GeneDx Company Profile

GeneDx is a clinical diagnostics company specializing in comprehensive genetic and genomic testing for rare and inherited disorders. The company offers a broad portfolio of assays, including targeted gene panels, whole exome sequencing, whole genome sequencing and chromosomal microarray analysis. GeneDx’s laboratory services support the diagnosis of a wide range of conditions—from rare pediatric diseases and hereditary cancer syndromes to neuromuscular and metabolic disorders—by providing clinicians with detailed variant interpretation and reporting.

Founded in 2000 and based in Gaithersburg, Maryland, GeneDx was established with the aim of accelerating the translation of genomic discoveries into clinical care.