GeneDx (NASDAQ:WGS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of GeneDx (NASDAQ:WGS) from a sell rating to a hold rating in a research report released on Saturday.

A number of other equities research analysts have also recently weighed in on WGS. Craig Hallum reiterated a “buy” rating and set a $85.00 price target on shares of GeneDx in a research report on Tuesday, May 5th. Piper Sandler restated an “overweight” rating and issued a $63.00 price objective (up from $50.00) on shares of GeneDx in a report on Tuesday, June 23rd. BTIG Research reaffirmed a “buy” rating and set a $90.00 price objective on shares of GeneDx in a research report on Tuesday, August 4th. Weiss Ratings upgraded shares of GeneDx from a “sell (e+)” rating to a “sell (d)” rating in a report on Tuesday, August 4th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $75.00 target price (down from $155.00) on shares of GeneDx in a research report on Tuesday, May 5th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, GeneDx presently has a consensus rating of “Moderate Buy” and an average price target of $89.57.

GeneDx Price Performance

WGS stock opened at $77.88 on Friday. GeneDx has a 52-week low of $32.21 and a 52-week high of $170.87. The company has a quick ratio of 3.06, a current ratio of 3.30 and a debt-to-equity ratio of 0.40. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of -21.40 and a beta of 1.92. The business has a fifty day moving average of $63.35 and a two-hundred day moving average of $68.14.

GeneDx (NASDAQ:WGS) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.20. The business had revenue of $114.44 million during the quarter, compared to analysts’ expectations of $111.01 million. GeneDx had a positive return on equity of 4.12% and a negative net margin of 23.41%.During the same period in the prior year, the business posted $0.36 EPS. As a group, research analysts anticipate that GeneDx will post -1 earnings per share for the current year.

Insider Buying and Selling at GeneDx

In other GeneDx news, Director Casdin Capital, Llc bought 50,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were purchased at an average cost of $52.86 per share, with a total value of $2,643,000.00. Following the purchase, the director directly owned 3,707,164 shares in the company, valued at approximately $195,960,689.04. This represents a 1.37% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Katherine Stueland sold 10,501 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $60.77, for a total transaction of $638,145.77. Following the sale, the chief executive officer directly owned 104,372 shares in the company, valued at approximately $6,342,686.44. The trade was a 9.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have purchased 1,051,273 shares of company stock valued at $46,334,582 and have sold 19,135 shares valued at $1,128,499. Company insiders own 25.17% of the company’s stock.

Hedge Funds Weigh In On GeneDx

Institutional investors have recently modified their holdings of the business. Westfield Capital Management Co. LP increased its holdings in GeneDx by 87.1% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,018,261 shares of the company’s stock worth $132,435,000 after purchasing an additional 474,167 shares during the period. Franklin Resources Inc. boosted its stake in shares of GeneDx by 60.4% in the 4th quarter. Franklin Resources Inc. now owns 1,092,988 shares of the company’s stock valued at $142,154,000 after buying an additional 411,607 shares during the period. Invesco Ltd. boosted its stake in shares of GeneDx by 59.2% in the 4th quarter. Invesco Ltd. now owns 786,466 shares of the company’s stock valued at $102,288,000 after buying an additional 292,394 shares during the period. Amova Asset Management Americas Inc. grew its position in shares of GeneDx by 67.3% during the first quarter. Amova Asset Management Americas Inc. now owns 638,800 shares of the company’s stock worth $41,024,000 after buying an additional 257,075 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of GeneDx by 65.9% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 633,457 shares of the company’s stock worth $40,681,000 after buying an additional 251,732 shares in the last quarter. Institutional investors and hedge funds own 61.72% of the company’s stock.

GeneDx Company Profile

GeneDx is a clinical diagnostics company specializing in comprehensive genetic and genomic testing for rare and inherited disorders. The company offers a broad portfolio of assays, including targeted gene panels, whole exome sequencing, whole genome sequencing and chromosomal microarray analysis. GeneDx’s laboratory services support the diagnosis of a wide range of conditions—from rare pediatric diseases and hereditary cancer syndromes to neuromuscular and metabolic disorders—by providing clinicians with detailed variant interpretation and reporting.

Founded in 2000 and based in Gaithersburg, Maryland, GeneDx was established with the aim of accelerating the translation of genomic discoveries into clinical care.