Analysts Set GeneDx Holdings Corp. (NASDAQ:WGS) Price Target at $59.33

GeneDx Holdings Corp. (NASDAQ:WGS) has been assigned an average recommendation of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $59.33.

A number of research firms recently commented on WGS. Craig Hallum upped their price objective on shares of GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company increased their price target on GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group lifted their price objective on GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th.

GeneDx Stock Performance

Shares of WGS stock opened at $77.20 on Thursday. The stock has a market cap of $2.12 billion, a PE ratio of -24.82 and a beta of 2.03. The stock has a 50-day moving average of $67.45 and a 200-day moving average of $43.52. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. GeneDx has a one year low of $1.45 and a one year high of $89.11.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.25. The firm had revenue of $76.90 million during the quarter, compared to analysts’ expectations of $64.98 million. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The business’s revenue for the quarter was up 44.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.82) earnings per share. As a group, sell-side analysts expect that GeneDx will post -0.24 earnings per share for the current year.

Insider Buying and Selling

In other GeneDx news, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $75.00, for a total transaction of $64,935,000.00. Following the sale, the insider now directly owns 2,866,833 shares of the company’s stock, valued at approximately $215,012,475. This represents a 23.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Katherine Stueland sold 3,639 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $33.33, for a total transaction of $121,287.87. Following the transaction, the chief executive officer now owns 95,457 shares in the company, valued at $3,181,581.81. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,109,110 shares of company stock valued at $81,993,001. Company insiders own 27.30% of the company’s stock.

Hedge Funds Weigh In On GeneDx

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of GeneDx by 4.2% in the first quarter. Vanguard Group Inc. now owns 707,612 shares of the company’s stock valued at $6,460,000 after purchasing an additional 28,678 shares during the period. Driehaus Capital Management LLC acquired a new position in GeneDx in the 2nd quarter valued at $11,335,000. Fred Alger Management LLC bought a new position in GeneDx during the 3rd quarter worth $16,731,000. Geode Capital Management LLC boosted its position in shares of GeneDx by 8.7% in the third quarter. Geode Capital Management LLC now owns 377,631 shares of the company’s stock valued at $16,030,000 after acquiring an additional 30,379 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in GeneDx during the second quarter worth about $9,575,000. Institutional investors own 61.72% of the company’s stock.

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.