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

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) have earned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $38.00.

WGS has been the topic of several research analyst reports. TD Cowen raised their price target on GeneDx from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Craig Hallum lifted their price target on GeneDx from $43.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company initiated coverage on GeneDx in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $34.00 price objective for the company. Jefferies Financial Group started coverage on shares of GeneDx in a research report on Monday, June 3rd. They set a “hold” rating and a $21.00 target price on the stock. Finally, BTIG Research increased their price target on shares of GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 31st.

Insider Buying and Selling

In other GeneDx news, CFO Kevin Feeley sold 895 shares of GeneDx stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $33.33, for a total transaction of $29,830.35. Following the sale, the chief financial officer now directly owns 39,910 shares of the company’s stock, valued at $1,330,200.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Opko Health, Inc. sold 50,000 shares of GeneDx stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $26.63, for a total transaction of $1,331,500.00. Following the completion of the transaction, the insider now directly owns 3,508,603 shares of the company’s stock, valued at approximately $93,434,097.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin Feeley sold 895 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $33.33, for a total transaction of $29,830.35. Following the sale, the chief financial officer now directly owns 39,910 shares in the company, valued at $1,330,200.30. The disclosure for this sale can be found here. Insiders sold 743,868 shares of company stock valued at $24,114,996 over the last quarter. Corporate insiders own 28.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of WGS. Decheng Capital LLC bought a new position in GeneDx in the 4th quarter valued at $285,000. Calamos Advisors LLC acquired a new position in GeneDx during the 2nd quarter worth about $1,137,000. Alpha DNA Investment Management LLC acquired a new stake in GeneDx in the 2nd quarter valued at about $363,000. Divisadero Street Capital Management LP acquired a new stake in GeneDx in the 2nd quarter valued at about $5,886,000. Finally, Vanguard Group Inc. raised its stake in shares of GeneDx by 4.2% in the first quarter. Vanguard Group Inc. now owns 707,612 shares of the company’s stock worth $6,460,000 after acquiring an additional 28,678 shares during the last quarter. 61.72% of the stock is owned by institutional investors and hedge funds.

GeneDx Stock Up 5.3 %

Shares of WGS stock opened at $42.79 on Friday. The stock’s 50 day simple moving average is $34.34 and its 200 day simple moving average is $24.68. GeneDx has a twelve month low of $1.16 and a twelve month high of $43.32. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.22 and a current ratio of 2.38. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -8.26 and a beta of 2.29.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings data on Tuesday, July 30th. The company reported ($0.11) earnings per share for the quarter, topping 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. As a group, research analysts predict that GeneDx will post -0.75 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.