GeneDx Holdings Corp. (WGS) – What Are Brokerages Thinking About This Stock?

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) have been assigned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $90.86.

A number of research firms have recently weighed in on WGS. BTIG Research reissued a “buy” rating and issued a $90.00 price target on shares of GeneDx in a research note on Tuesday, August 4th. Piper Sandler reaffirmed an “overweight” rating and set a $63.00 price objective (up from $50.00) on shares of GeneDx in a research note on Tuesday, June 23rd. Guggenheim lifted their price objective on GeneDx from $74.00 to $83.00 and gave the stock a “buy” rating in a research note on Thursday, October 1st. Canaccord Genuity Group upped their price objective on GeneDx from $75.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Finally, Wall Street Zen upgraded GeneDx from a “sell” rating to a “hold” rating in a report on Saturday, August 8th.

Insider Transactions at GeneDx

In other GeneDx news, CFO Kevin Feeley sold 3,728 shares of the firm’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $97.61, for a total transaction of $363,890.08. Following the transaction, the chief financial officer owned 44,945 shares in the company, valued at approximately $4,387,081.45. This trade represents a 7.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Katherine Stueland sold 10,501 shares of the business’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $97.61, for a total value of $1,025,002.61. Following the transaction, the chief executive officer owned 115,476 shares of the company’s stock, valued at $11,271,612.36. The trade was a 8.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 19,206 shares of company stock worth $1,808,056. Company insiders own 25.17% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its holdings in GeneDx by 108.4% in the third quarter. Assenagon Asset Management S.A. now owns 632,413 shares of the company’s stock worth $45,723,000 after purchasing an additional 328,980 shares during the period. First Light Asset Management LLC boosted its position in shares of GeneDx by 222.7% during the second quarter. First Light Asset Management LLC now owns 783,923 shares of the company’s stock worth $53,816,000 after purchasing an additional 540,996 shares in the last quarter. Nykredit A S acquired a new position in shares of GeneDx in the 2nd quarter valued at $38,000. Corient Private Wealth LP acquired a new position in shares of GeneDx in the 2nd quarter valued at $3,066,000. Finally, AlphaGrep UK Ltd acquired a new position in shares of GeneDx in the 2nd quarter valued at $238,000. Institutional investors own 61.72% of the company’s stock.

GeneDx Stock Down 9.4%

Shares of NASDAQ:WGS opened at $63.61 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.30 and a quick ratio of 3.06. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of -17.48 and a beta of 1.95. The company has a 50 day moving average of $81.94 and a 200-day moving average of $67.32. GeneDx has a one year low of $32.21 and a one year high of $170.87.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.20. The business had revenue of $114.44 million for the quarter, compared to analyst estimates of $111.01 million. GeneDx had a negative net margin of 23.41% and a positive return on equity of 4.12%. During the same period in the prior year, the business posted $0.36 earnings per share. On average, sell-side analysts forecast that GeneDx will post -0.41 earnings per share for the current year.

GeneDx Company Profile

GeneDx (NASDAQ: WGS) is a precision health company that provides genetic testing and related data services. The company focuses on helping healthcare professionals identify genetic conditions, support diagnosis and treatment decisions, and better understand inherited disease.

Its offerings include exome and genome sequencing, testing for rare and undiagnosed disorders, hereditary cancer testing, and other genetic analyses. GeneDx also provides clinical interpretation and reporting intended to help physicians evaluate genetic results in the context of a patient’s symptoms and family history.

Founded in 2000, GeneDx has built a business around genomic testing for patients with rare diseases and other inherited conditions.