GeneDx Holdings Corp. (NASDAQ:WGS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

GeneDx Holdings Corp. (NASDAQ:WGS) has received a consensus rating of “Moderate Buy” from the six research firms that are covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $38.00.

Several equities research analysts have issued reports on the stock. Wells Fargo & Company assumed coverage on shares of GeneDx in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $34.00 price target on the stock. BTIG Research lifted their price objective on shares of GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Craig Hallum lifted their price objective on shares of GeneDx from $43.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. TD Cowen lifted their price objective on shares of GeneDx from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, The Goldman Sachs Group lifted their price objective on shares of GeneDx from $28.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st.

GeneDx Trading Up 0.4 %

Shares of NASDAQ WGS opened at $59.99 on Wednesday. The company’s fifty day moving average is $39.20 and its 200-day moving average is $28.49. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of -11.58 and a beta of 2.32. GeneDx has a twelve month low of $1.16 and a twelve month high of $61.41. The company has a quick ratio of 2.22, a current ratio of 2.38 and a debt-to-equity ratio of 0.27.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings data on Tuesday, July 30th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.15. GeneDx had a negative net margin of 48.21% and a negative return on equity of 22.71%. The business had revenue of $70.51 million for the quarter, compared to analyst estimates of $58.90 million. Equities research analysts predict that GeneDx will post -0.75 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Opko Health, Inc. sold 25,000 shares of GeneDx stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $32.29, for a total transaction of $807,250.00. Following the completion of the sale, the insider now owns 3,383,403 shares of the company’s stock, valued at approximately $109,250,082.87. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other GeneDx news, CEO Katherine Stueland sold 2,154 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $33.54, for a total value of $72,245.16. Following the completion of the sale, the chief executive officer now owns 92,550 shares of the company’s stock, valued at $3,104,127. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Opko Health, Inc. sold 25,000 shares of the business’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $32.29, for a total transaction of $807,250.00. Following the completion of the sale, the insider now directly owns 3,383,403 shares of the company’s stock, valued at $109,250,082.87. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 618,668 shares of company stock valued at $20,542,738. Company insiders own 28.10% of the company’s stock.

Hedge Funds Weigh In On GeneDx

Several hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC acquired a new position in shares of GeneDx in the 3rd quarter valued at approximately $89,000. SG Americas Securities LLC acquired a new position in shares of GeneDx in the 3rd quarter valued at approximately $198,000. Point72 Asset Management L.P. raised its position in shares of GeneDx by 227.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 156,745 shares of the company’s stock valued at $4,097,000 after buying an additional 108,864 shares in the last quarter. Algert Global LLC acquired a new position in GeneDx during the 2nd quarter worth approximately $356,000. Finally, Driehaus Capital Management LLC acquired a new position in GeneDx during the 2nd quarter worth approximately $11,335,000. 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.