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

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) have been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $72.33.

Several research firms have recently weighed in on WGS. The Goldman Sachs Group upped their price objective on GeneDx from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. TD Cowen raised their price target on shares of GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th.

GeneDx Stock Performance

Shares of WGS stock opened at $104.39 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. GeneDx has a 52 week low of $8.10 and a 52 week high of $115.60. The company’s 50 day moving average price is $84.89 and its two-hundred day moving average price is $71.65. The company has a market capitalization of $2.93 billion, a P/E ratio of -53.26 and a beta of 1.91.

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

Insider Buying and Selling at GeneDx

In other news, CFO Kevin Feeley sold 3,749 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $96.71, for a total value of $362,565.79. Following the sale, the chief financial officer now directly owns 8,492 shares of the company’s stock, valued at approximately $821,261.32. This represents a 30.63 % 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 51,420 shares of GeneDx stock in a transaction dated Tuesday, January 7th. The stock was 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 owns 1,720 shares of the company’s stock, valued at $162,505.60. The trade was a 96.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,735 shares of company stock worth $11,719,787 over the last ninety days. 27.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On GeneDx

Hedge funds have recently added to or reduced their stakes in the business. MCF Advisors LLC raised its position in shares of GeneDx by 107.7% in the fourth quarter. MCF Advisors LLC now owns 351 shares of the company’s stock valued at $27,000 after purchasing an additional 182 shares during the period. Sterling Capital Management LLC raised its holdings in GeneDx by 877.8% in the 4th quarter. Sterling Capital Management LLC now owns 352 shares of the company’s stock valued at $27,000 after acquiring an additional 316 shares during the period. Global Retirement Partners LLC acquired a new stake in GeneDx during the fourth quarter worth approximately $28,000. Lazard Asset Management LLC bought a new stake in shares of GeneDx during the fourth quarter worth approximately $35,000. Finally, Comerica Bank acquired a new position in shares of GeneDx in the fourth quarter valued at approximately $50,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

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.