Brokerages Set GeneDx Holdings Corp. (NASDAQ:WGS) Target Price at $70.67

Shares of GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) have received an average rating of "Moderate Buy" from the six research firms that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $72.33.

A number of equities analysts recently commented on WGS shares. Craig Hallum lifted 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. TD Cowen lifted their price target on shares of GeneDx from $75.00 to $118.00 and gave the stock a "buy" rating in a research note on Tuesday, January 7th. The Goldman Sachs Group lifted their price target on shares of GeneDx from $70.00 to $80.00 and gave the stock a "neutral" rating in a research note on Wednesday. Finally, Wells Fargo & Company lifted their price target on shares of GeneDx from $34.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th.

GeneDx Price Performance

Shares of NASDAQ:WGS traded down $5.75 on Tuesday, reaching $95.83. The company's stock had a trading volume of 1,150,124 shares, compared to its average volume of 1,254,586. GeneDx has a 52-week low of $6.79 and a 52-week high of $115.60. The company has a market cap of $2.63 billion, a P/E ratio of -48.89 and a beta of 2.01. The company has a 50-day simple moving average of $78.64 and a 200 day simple moving average of $62.41. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40.

GeneDx (NASDAQ:WGS - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.66. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. The firm had revenue of $95.64 million during the quarter, compared to analysts' expectations of $82.24 million. As a group, equities research analysts anticipate that GeneDx will post 0.52 EPS for the current fiscal year.

Insider Buying and Selling at GeneDx

In other news, CFO Kevin Feeley sold 1,137 shares of the business's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $76.37, for a total value of $86,832.69. Following the completion of the sale, the chief financial officer now owns 24,731 shares in the company, valued at approximately $1,888,706.47. The trade was a 4.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Katherine Stueland sold 51,420 shares of the business's stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $94.48, for a total transaction of $4,858,161.60. Following the completion of the sale, the chief executive officer now owns 1,720 shares of the company's stock, valued at approximately $162,505.60. This represents a 96.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,584 shares of company stock valued at $11,336,520 in the last three months. Company insiders own 27.30% of the company's stock.

Institutional Investors Weigh In On GeneDx

Several large investors have recently modified their holdings of the business. Palisades Investment Partners LLC bought a new stake in shares of GeneDx in the 4th quarter valued at about $6,425,000. Castleark Management LLC bought a new position in shares of GeneDx during the 4th quarter worth approximately $4,743,000. PharVision Advisers LLC bought a new position in shares of GeneDx during the 4th quarter worth approximately $301,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of GeneDx by 120.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,849 shares of the company's stock worth $1,295,000 after acquiring an additional 9,202 shares in the last quarter. Finally, Soleus Capital Management L.P. bought a new position in shares of GeneDx during the 4th quarter worth approximately $307,000. 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.