GeneDx Holdings Corp. (NASDAQ:WGS) Receives $70.67 Consensus Price Target from Analysts

GeneDx Holdings Corp. (NASDAQ:WGS) has earned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat.com 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 twelve-month price objective among brokerages that have issued a report on the stock in the last year is $72.33.

Several research firms have recently issued reports on WGS. Wells Fargo & Company lifted their price objective on shares of GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Craig Hallum boosted their price target on shares of GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group boosted their price target on shares of GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, TD Cowen boosted their price target on shares of GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th.

Insider Buying and Selling at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 51,420 shares of GeneDx stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $94.48, for a total value of $4,858,161.60. Following the transaction, the chief executive officer now directly owns 1,720 shares in the company, valued at approximately $162,505.60. The trade was a 96.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin Feeley sold 1,137 shares of GeneDx stock in a transaction 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 completion of the transaction, the chief financial officer now owns 24,731 shares in the company, valued at approximately $1,888,706.47. This represents a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 127,584 shares of company stock worth $11,336,520. 27.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in WGS. SG Americas Securities LLC acquired a new position in shares of GeneDx during the third quarter worth about $198,000. CWM LLC acquired a new position in shares of GeneDx during the third quarter worth about $89,000. Raymond James & Associates acquired a new position in shares of GeneDx during the third quarter worth about $8,090,000. Precision Wealth Strategies LLC acquired a new position in shares of GeneDx during the third quarter worth about $364,000. Finally, Palumbo Wealth Management LLC acquired a new position in GeneDx during the third quarter worth about $287,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

GeneDx Stock Performance

Shares of WGS stock opened at $95.83 on Tuesday. The stock has a market capitalization of $2.63 billion, a PE ratio of -48.89 and a beta of 2.01. The firm has a 50 day moving average of $79.05 and a two-hundred day moving average of $63.12. GeneDx has a 52 week low of $6.79 and a 52 week high of $115.60. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25.

GeneDx (NASDAQ:WGS) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.66. The business had revenue of $95.64 million during the quarter, compared to analysts’ expectations of $82.24 million. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. On average, research analysts predict that GeneDx will post 0.97 EPS 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.