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

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

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

GeneDx Trading Up 0.4 %

Shares of GeneDx stock opened at $76.86 on Monday. The company has a 50 day simple moving average of $75.05 and a two-hundred day simple moving average of $50.14. The firm has a market cap of $2.11 billion, a PE ratio of -24.71 and a beta of 2.03. GeneDx has a 1 year low of $2.47 and a 1 year high of $89.11. 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 (NASDAQ:WGS) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.25. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The company had revenue of $76.90 million during the quarter, compared to the consensus estimate of $64.98 million. During the same period in the previous year, the firm posted ($0.82) EPS. The firm’s revenue was up 44.3% compared to the same quarter last year. Analysts expect that GeneDx will post -0.24 earnings per share for the current fiscal year.

Insider Buying and Selling at GeneDx

In related news, CEO Katherine Stueland sold 2,154 shares of GeneDx stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $66.60, for a total value of $143,456.40. Following the sale, the chief executive officer now owns 105,426 shares in the company, valued at $7,021,371.60. The trade was a 2.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jason Ryan sold 31,510 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $71.28, for a total transaction of $2,246,032.80. Following the completion of the transaction, the director now owns 15,490 shares of the company’s stock, valued at $1,104,127.20. This trade represents a 67.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,123,603 shares of company stock valued at $83,300,382 in the last quarter. Company insiders own 27.30% of the company’s stock.

Hedge Funds Weigh In On GeneDx

Several hedge funds and other institutional investors have recently modified their holdings of WGS. Renaissance Technologies LLC purchased a new stake in GeneDx in the second quarter worth about $2,362,000. Chartwell Investment Partners LLC purchased a new position in shares of GeneDx in the 3rd quarter valued at approximately $1,722,000. Charles Schwab Investment Management Inc. boosted its position in shares of GeneDx by 304.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 147,034 shares of the company’s stock valued at $6,240,000 after purchasing an additional 110,666 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in GeneDx in the third quarter worth $325,000. Finally, Lisanti Capital Growth LLC bought a new position in GeneDx in the third quarter worth $1,554,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

About GeneDx

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.