Insider Buying: GeneDx (NASDAQ:WGS) Director Acquires $5,514,600.00 in Stock

GeneDx Holdings Corp. (NASDAQ:WGS) Director Keith Meister bought 140,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were bought at an average cost of $39.39 per share, with a total value of $5,514,600.00. Following the purchase, the director directly owned 4,738,297 shares of the company’s stock, valued at approximately $186,641,518.83. This represents a 3.04% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

GeneDx Price Performance

WGS stock opened at $40.75 on Monday. The stock has a market capitalization of $1.21 billion, a P/E ratio of -15.21 and a beta of 2.06. The firm has a 50-day simple moving average of $64.01 and a 200-day simple moving average of $101.80. The company has a quick ratio of 2.95, a current ratio of 3.09 and a debt-to-equity ratio of 0.38. GeneDx Holdings Corp. has a 52 week low of $32.21 and a 52 week high of $170.87.

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

Institutional Trading of GeneDx

Several large investors have recently bought and sold shares of the business. Ashford Capital Management Inc. grew its stake in GeneDx by 31.9% during the 1st quarter. Ashford Capital Management Inc. now owns 174,512 shares of the company’s stock valued at $11,207,000 after acquiring an additional 42,186 shares in the last quarter. Quantinno Capital Management LP grew its stake in GeneDx by 99.2% during the 1st quarter. Quantinno Capital Management LP now owns 3,810 shares of the company’s stock valued at $245,000 after acquiring an additional 1,897 shares in the last quarter. First Light Asset Management LLC purchased a new stake in GeneDx during the 1st quarter valued at about $15,601,000. Lazard Asset Management LLC purchased a new stake in GeneDx during the 1st quarter valued at about $2,177,000. Finally, Granahan Investment Management LLC grew its stake in GeneDx by 212.5% during the 1st quarter. Granahan Investment Management LLC now owns 96,605 shares of the company’s stock valued at $6,204,000 after acquiring an additional 65,695 shares in the last quarter. Hedge funds and other institutional investors own 61.72% of the company’s stock.

Analyst Upgrades and Downgrades

WGS has been the subject of a number of research reports. Craig Hallum reissued a “buy” rating and set a $85.00 target price on shares of GeneDx in a research note on Tuesday, May 5th. BTIG Research cut their target price on shares of GeneDx from $170.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, May 5th. Canaccord Genuity Group set a $75.00 target price on shares of GeneDx and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Wells Fargo & Company reissued an “overweight” rating and set a $75.00 target price (down from $155.00) on shares of GeneDx in a research note on Tuesday, May 5th. Finally, Wall Street Zen cut shares of GeneDx from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $96.43.

Key GeneDx News

Here are the key news stories impacting GeneDx this week:

• Positive Sentiment: Director Keith A. Meister kept buying shares, including 165,000 shares on May 13, 140,000 shares on May 14, and 46,273 shares on May 15, signaling strong insider confidence in GeneDx’s outlook and helping support the stock. Insider trade filing
• Neutral Sentiment: GeneDx received an average brokerage recommendation of “Moderate Buy,” suggesting Wall Street still sees upside despite the recent volatility. Brokerage recommendation article
• Negative Sentiment: A legal update from Pomerantz LLP said it is investigating claims on behalf of GeneDx investors, adding overhang from possible shareholder litigation after the company’s recent results. Pomerantz investigation article
• Negative Sentiment: Another law firm, Levi & Korsinsky, announced a securities investigation tied to GeneDx’s Q1 revenue miss and reduced full-year guidance, reinforcing concerns that the post-earnings selloff may not be over. Levi & Korsinsky investigation article
• Negative Sentiment: An analyst note cut GeneDx’s price target sharply to $98.94, highlighting a more cautious view after the company’s disappointing quarter. Price target cut article

About GeneDx

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.