GeneDx Holdings Corp. (NASDAQ:WGS) Receives $59.33 Consensus Target Price from Brokerages

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) have been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $59.33.

A number of analysts have commented on WGS shares. BTIG Research boosted their target price on GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Craig Hallum boosted their price objective on shares of GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company raised their target price on shares of GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. TD Cowen upped their price target on shares of GeneDx from $46.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group raised their price objective on shares of GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th.

GeneDx Price Performance

Shares of NASDAQ WGS opened at $73.73 on Friday. The company’s fifty day moving average is $55.23 and its two-hundred day moving average is $37.31. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. The firm has a market capitalization of $2.03 billion, a P/E ratio of -23.71 and a beta of 2.11. GeneDx has a one year low of $1.16 and a one year high of $89.11.

GeneDx (NASDAQ:WGS) last issued its earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $64.98 million. During the same period in the prior year, the business posted ($0.82) earnings per share. The firm’s revenue for the quarter was up 44.3% compared to the same quarter last year. Analysts forecast that GeneDx will post -0.24 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Kevin Feeley sold 895 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $33.33, for a total transaction of $29,830.35. Following the completion of the sale, the chief financial officer now directly owns 39,910 shares in the company, valued at $1,330,200.30. This represents a 2.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of GeneDx stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $75.00, for a total value of $64,935,000.00. Following the completion of the transaction, the insider now owns 2,866,833 shares in the company, valued at $215,012,475. The trade was a 23.20 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 923,024 shares of company stock valued at $66,980,631. Company insiders own 27.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WGS. Vanguard Group Inc. raised its position in 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. Gagnon Advisors LLC raised its holdings in shares of GeneDx by 41.6% during the 1st quarter. Gagnon Advisors LLC now owns 211,393 shares of the company’s stock valued at $1,930,000 after buying an additional 62,059 shares during the period. Gagnon Securities LLC lifted its position in GeneDx by 59.3% during the 1st quarter. Gagnon Securities LLC now owns 556,305 shares of the company’s stock worth $5,079,000 after acquiring an additional 207,027 shares in the last quarter. Oracle Investment Management Inc. boosted its holdings in GeneDx by 531.7% in the 1st quarter. Oracle Investment Management Inc. now owns 1,126,607 shares of the company’s stock worth $10,286,000 after acquiring an additional 948,253 shares during the period. Finally, Legal Advantage Investments Inc. acquired a new stake in GeneDx in the second quarter valued at approximately $518,000. 61.72% of the stock is 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.