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

Shares of GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) have earned an average recommendation of "Moderate Buy" from the six analysts that are covering the firm, MarketBeat reports. Three 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 $59.33.

A number of research analysts have recently commented on the stock. 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 upped their price objective on shares of GeneDx from $34.00 to $75.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group upped their price objective 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.

Insider Buying and Selling

In other news, CFO Kevin Feeley sold 12,019 shares of the firm's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $73.76, for a total transaction of $886,521.44. Following the completion of the sale, the chief financial officer now owns 32,932 shares of the company's stock, valued at approximately $2,429,064.32. This trade represents a 26.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Katherine Stueland sold 3,639 shares of the firm's stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $33.33, for a total transaction of $121,287.87. Following the sale, the chief executive officer now directly owns 95,457 shares of the company's stock, valued at approximately $3,181,581.81. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,109,110 shares of company stock valued at $81,993,001 over the last quarter. Corporate insiders own 27.30% of the company's stock.

Institutional Trading of GeneDx

Several hedge funds have recently modified their holdings of WGS. Driehaus Capital Management LLC bought a new stake in shares of GeneDx during the second quarter valued at approximately $11,335,000. Fred Alger Management LLC bought a new stake in shares of GeneDx during the third quarter valued at approximately $16,731,000. Assenagon Asset Management S.A. bought a new stake in shares of GeneDx during the second quarter valued at approximately $9,575,000. Divisadero Street Capital Management LP bought a new stake in shares of GeneDx during the second quarter valued at approximately $5,886,000. Finally, Millennium Management LLC grew its stake in shares of GeneDx by 193.5% during the second quarter. Millennium Management LLC now owns 311,401 shares of the company's stock valued at $8,140,000 after purchasing an additional 205,318 shares during the last quarter. Institutional investors and hedge funds own 61.72% of the company's stock.

GeneDx Stock Down 1.0 %

NASDAQ:WGS traded down $0.78 during trading hours on Thursday, reaching $78.85. The company's stock had a trading volume of 600,142 shares, compared to its average volume of 454,057. The company has a market cap of $2.17 billion, a price-to-earnings ratio of -25.60 and a beta of 2.03. GeneDx has a one year low of $1.45 and a one year high of $89.11. The business's 50-day moving average is $66.00 and its 200-day moving average is $42.89. 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 - Get Free Report) last released its quarterly earnings results 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. 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 analysts' expectations of $64.98 million. During the same period in the prior year, the company earned ($0.82) earnings per share. The business's quarterly revenue was up 44.3% compared to the same quarter last year. Equities research analysts predict that GeneDx will post -0.24 EPS for the current year.

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.