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

GeneDx Holdings Corp. (NASDAQ:WGS) has earned an average rating of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $70.67.

A number of research firms have recently weighed in on WGS. Craig Hallum raised their price target on shares of GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group raised their target price on shares of GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Wells Fargo & Company boosted their target price on shares of GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, TD Cowen increased 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.

Insider Buying and Selling

In other GeneDx news, CEO Katherine Stueland sold 23,108 shares of GeneDx stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $70.48, for a total value of $1,628,651.84. Following the completion of the sale, the chief executive officer now directly owns 82,318 shares in the company, valued at approximately $5,801,772.64. The trade was a 21.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder School Of Medicine At Mo Icahn sold 20,359 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $69.78, for a total value of $1,420,651.02. Following the transaction, the insider now owns 2,846,474 shares in the company, valued at $198,626,955.72. The trade was a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 361,737 shares of company stock valued at $27,909,458 in the last three months. Insiders own 27.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of WGS. Driehaus Capital Management LLC acquired a new stake in shares of GeneDx in the 2nd quarter valued at about $11,335,000. Fred Alger Management LLC acquired a new stake in GeneDx in the third quarter valued at approximately $16,731,000. Geode Capital Management LLC increased its holdings in shares of GeneDx by 8.7% during the third quarter. Geode Capital Management LLC now owns 377,631 shares of the company’s stock valued at $16,030,000 after acquiring an additional 30,379 shares in the last quarter. State Street Corp raised its position in shares of GeneDx by 18.3% during the third quarter. State Street Corp now owns 314,914 shares of the company’s stock worth $13,365,000 after purchasing an additional 48,735 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of GeneDx by 193.5% in the 2nd 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 in the last quarter. Institutional investors and hedge funds own 61.72% of the company’s stock.

GeneDx Stock Up 2.9 %

NASDAQ WGS opened at $77.86 on Friday. The business has a fifty day moving average price of $78.37 and a two-hundred day moving average price of $57.69. The stock has a market capitalization of $2.14 billion, a PE ratio of -25.04 and a beta of 2.02. GeneDx has a fifty-two week low of $3.62 and a fifty-two week high of $98.87. 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 announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.25. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. The business had revenue of $76.90 million during the quarter, compared to the consensus estimate of $64.98 million. During the same period in the prior year, the company earned ($0.82) EPS. GeneDx’s revenue for the quarter was up 44.3% on a year-over-year basis. Equities analysts expect that GeneDx will post -0.24 earnings per share for the current fiscal 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.