GeneDx (NASDAQ:WGS) Director Keith Meister Acquires 46,273 Shares of Stock

GeneDx Holdings Corp. (NASDAQ:WGS) Director Keith Meister bought 46,273 shares of GeneDx stock in a transaction that occurred on Friday, May 15th. The stock was bought at an average price of $38.91 per share, for a total transaction of $1,800,482.43. Following the completion of the acquisition, the director directly owned 4,784,570 shares of the company’s stock, valued at $186,167,618.70. The trade was a 0.98% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

GeneDx Trading Up 4.9%

NASDAQ:WGS traded up $1.90 on Friday, reaching $40.75. 1,621,837 shares of the stock traded hands, compared to its average volume of 997,857. The company has a current ratio of 3.09, a quick ratio of 2.95 and a debt-to-equity ratio of 0.38. GeneDx Holdings Corp. has a 1-year low of $32.21 and a 1-year high of $170.87. The company’s 50 day moving average is $64.78 and its 200-day moving average is $102.43. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -15.21 and a beta of 2.06.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings data on Monday, May 4th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.22). GeneDx had a negative net margin of 17.58% and a positive return on equity of 9.15%. The firm had revenue of $102.25 million during the quarter, compared to the consensus estimate of $112.46 million. During the same period in the prior year, the company posted ($0.23) earnings per share. Equities research analysts anticipate that GeneDx Holdings Corp. will post -1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in WGS. Granahan Investment Management LLC boosted its holdings in GeneDx by 212.5% in the first quarter. Granahan Investment Management LLC now owns 96,605 shares of the company’s stock worth $6,204,000 after acquiring an additional 65,695 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of GeneDx by 168.2% during the first quarter. Renaissance Technologies LLC now owns 153,716 shares of the company’s stock valued at $9,872,000 after acquiring an additional 96,400 shares in the last quarter. Keebeck Wealth Management raised its position in shares of GeneDx by 13.5% during the first quarter. Keebeck Wealth Management now owns 4,310 shares of the company’s stock worth $277,000 after purchasing an additional 513 shares during the period. Cetera Investment Advisers raised its position in shares of GeneDx by 16.6% during the first quarter. Cetera Investment Advisers now owns 3,616 shares of the company’s stock worth $232,000 after purchasing an additional 516 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of GeneDx by 20.2% in the 1st quarter. First Trust Advisors LP now owns 74,602 shares of the company’s stock worth $4,791,000 after purchasing an additional 12,552 shares in the last quarter. 61.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on WGS shares. Jefferies Financial Group set a $150.00 price objective on GeneDx in a research report on Monday, February 23rd. Piper Sandler reissued an “overweight” rating and issued a $130.00 price objective (down from $160.00) on shares of GeneDx in a research report on Tuesday, February 24th. Wells Fargo & Company reissued an “overweight” rating and issued a $75.00 price objective (down from $155.00) on shares of GeneDx in a research report on Tuesday, May 5th. Wall Street Zen lowered GeneDx from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Canaccord Genuity Group set a $75.00 price objective on GeneDx and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $96.43.

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.