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

GeneDx Holdings Corp. (NASDAQ:WGS) has been given a consensus rating of “Moderate Buy” by the six research firms that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned 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 $59.33.

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

GeneDx Trading Down 0.6 %

WGS opened at $79.14 on Monday. GeneDx has a 12 month low of $2.63 and a 12 month high of $89.11. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. The stock has a 50-day moving average of $76.28 and a 200 day moving average of $50.89. The firm has a market cap of $2.17 billion, a P/E ratio of -25.45 and a beta of 2.03.

GeneDx (NASDAQ:WGS) last released its earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.25. The firm had revenue of $76.90 million for the quarter, compared to the consensus estimate of $64.98 million. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. The company’s revenue for the quarter was up 44.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.82) EPS. As a group, research analysts forecast that GeneDx will post -0.24 EPS for the current year.

Insider Activity

In other news, CFO Kevin Feeley sold 1,137 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $76.37, for a total transaction of $86,832.69. Following the transaction, the chief financial officer now directly owns 24,731 shares in the company, valued at approximately $1,888,706.47. This trade represents a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of GeneDx stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $75.00, for a total transaction of $64,935,000.00. Following the transaction, the insider now directly owns 2,866,833 shares in the company, valued at approximately $215,012,475. The trade was a 23.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,123,603 shares of company stock valued at $83,300,382. Corporate insiders own 27.30% of the company’s stock.

Institutional Trading of GeneDx

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC bought a new stake in shares of GeneDx in the 2nd quarter valued at about $34,000. nVerses Capital LLC purchased a new position in GeneDx in the second quarter worth $50,000. CWM LLC acquired a new position in shares of GeneDx during the third quarter worth $89,000. SG Americas Securities LLC purchased a new stake in shares of GeneDx during the 3rd quarter valued at $198,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of GeneDx during the 3rd quarter valued at $220,000. Institutional investors own 61.72% of the company’s stock.

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.