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

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) have received a consensus rating of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $41.67.

WGS has been the subject of a number of research analyst reports. Wells Fargo & Company initiated coverage on shares of GeneDx in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $34.00 target price for the company. The Goldman Sachs Group upped their target price on shares of GeneDx from $32.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Craig Hallum upped their target price on shares of GeneDx from $43.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. TD Cowen upped their target price on shares of GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, BTIG Research upped their target price on shares of GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st.

Insider Transactions at GeneDx

In other news, major shareholder Opko Health, Inc. sold 60,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $33.85, for a total value of $2,031,000.00. Following the sale, the insider now directly owns 3,123,403 shares of the company’s stock, valued at approximately $105,727,191.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Opko Health, Inc. sold 60,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $33.85, for a total value of $2,031,000.00. Following the sale, the insider now directly owns 3,123,403 shares of the company’s stock, valued at approximately $105,727,191.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Katherine Stueland sold 3,639 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $33.33, for a total transaction of $121,287.87. Following the completion of the transaction, the chief executive officer now directly owns 95,457 shares in the company, valued at approximately $3,181,581.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 543,668 shares of company stock worth $18,104,988 in the last three months. Insiders own 28.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC bought a new position in GeneDx in the 2nd quarter valued at about $2,362,000. Millennium Management LLC increased its holdings in shares of GeneDx by 193.5% during the second quarter. Millennium Management LLC now owns 311,401 shares of the company’s stock worth $8,140,000 after purchasing an additional 205,318 shares during the period. Algert Global LLC bought a new position in shares of GeneDx during the second quarter worth approximately $356,000. Calamos Advisors LLC bought a new position in shares of GeneDx during the second quarter worth approximately $1,137,000. Finally, Point72 Asset Management L.P. increased its holdings in shares of GeneDx by 227.4% during the second quarter. Point72 Asset Management L.P. now owns 156,745 shares of the company’s stock worth $4,097,000 after purchasing an additional 108,864 shares during the period. 61.72% of the stock is owned by institutional investors.

GeneDx Price Performance

WGS opened at $60.05 on Wednesday. The company has a quick ratio of 2.22, a current ratio of 2.38 and a debt-to-equity ratio of 0.27. GeneDx has a 12 month low of $1.16 and a 12 month high of $61.96. The company has a fifty day simple moving average of $40.84 and a 200 day simple moving average of $29.54. The stock has a market cap of $1.57 billion, a P/E ratio of -11.59 and a beta of 2.32.

GeneDx (NASDAQ:WGS) last released its quarterly earnings data on Tuesday, July 30th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.15. GeneDx had a negative net margin of 48.21% and a negative return on equity of 22.71%. The business had revenue of $70.51 million during the quarter, compared to analysts’ expectations of $58.90 million. On average, research analysts expect that GeneDx will post -0.75 EPS for the current year.

About GeneDx

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.