GeneDx Holdings Corp. (NASDAQ:WGS) Receives Average Recommendation of “Moderate Buy” from Analysts

GeneDx Holdings Corp. (NASDAQ:WGS) has been assigned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $59.33.

Several research analysts have weighed in on the stock. Craig Hallum increased their target price 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. Wells Fargo & Company lifted their target price on shares of 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 upped their price target on GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th.

GeneDx Stock Performance

GeneDx stock opened at $79.14 on Monday. The firm has a 50 day simple moving average of $76.28 and a 200-day simple moving average of $51.22. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of -25.45 and a beta of 2.03. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. GeneDx has a 1-year low of $2.63 and a 1-year high of $89.11.

GeneDx (NASDAQ:WGS) last posted its earnings results on Tuesday, October 29th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates 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 company’s revenue for the quarter was up 44.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.82) earnings per share. On average, analysts expect that GeneDx will post -0.24 EPS for the current year.

Insiders Place Their Bets

In other GeneDx news, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $75.00, for a total value of $64,935,000.00. Following the sale, the insider now directly owns 2,866,833 shares in the company, valued at $215,012,475. This trade represents a 23.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Katherine Stueland sold 10,501 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $76.75, for a total transaction of $805,951.75. Following the sale, the chief executive officer now directly owns 71,146 shares in the company, valued at approximately $5,460,455.50. The trade was a 12.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,123,603 shares of company stock worth $83,300,382 over the last 90 days. Corporate insiders own 27.30% of the company’s stock.

Institutional Investors Weigh In On GeneDx

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

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.