GeneDx Holdings Corp. (NASDAQ:WGS) Receives $70.67 Average Price Target from Brokerages

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

Several brokerages recently issued reports on WGS. TD Cowen lifted their target price on GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Craig Hallum lifted their target price on GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company raised their price target on GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group raised their price target on GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th.

GeneDx Stock Up 5.9 %

NASDAQ WGS opened at $79.24 on Friday. The stock’s 50-day moving average price is $78.13 and its 200-day moving average price is $57.42. The company has a market capitalization of $2.18 billion, a P/E ratio of -25.48 and a beta of 2.02. GeneDx has a 52 week low of $3.26 and a 52 week high of $98.87. 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 issued its earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.25. The company 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 firm’s quarterly revenue was up 44.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.82) EPS. On average, equities research analysts predict that GeneDx will post -0.24 earnings per share for the current year.

Insider Transactions at GeneDx

In other news, CEO Katherine Stueland sold 51,420 shares of GeneDx stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 1,720 shares in the company, valued at approximately $162,505.60. The trade was a 96.76 % 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, major shareholder School Of Medicine At Mo Icahn sold 20,359 shares of the firm’s 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 sale, the insider now directly owns 2,846,474 shares of the company’s stock, valued at $198,626,955.72. This represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,227,537 shares of company stock worth $92,844,458. 27.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On GeneDx

A number of institutional investors and hedge funds have recently modified their holdings of WGS. MCF Advisors LLC raised its position in GeneDx by 107.7% during the 4th quarter. MCF Advisors LLC now owns 351 shares of the company’s stock valued at $27,000 after purchasing an additional 182 shares in the last quarter. CWM LLC bought a new stake in GeneDx during the 3rd quarter valued at $89,000. Evolution Wealth Advisors LLC bought a new stake in GeneDx during the 4th quarter valued at $202,000. PFG Investments LLC bought a new stake in GeneDx during the 4th quarter valued at $252,000. Finally, SG Americas Securities LLC bought a new stake in GeneDx during the 3rd quarter valued at $198,000. 61.72% of the stock is owned by institutional investors.

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.