GeneDx Holdings Corp. (NASDAQ:WGS) Receives Average Recommendation of "Moderate Buy" from Analysts

Shares of GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the six research firms that are currently covering the stock, 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 1-year price objective among analysts that have covered the stock in the last year is $70.67.

Several brokerages have recently weighed in on WGS. The Goldman Sachs Group raised 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. TD Cowen boosted their price target on GeneDx from $75.00 to $118.00 and gave the stock a "buy" rating in a research report on Tuesday, January 7th. Craig Hallum upped their price objective on GeneDx from $70.00 to $95.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Finally, 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 research note on Wednesday, October 30th.

Insider Buying and Selling

In related news, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of the business's stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $75.00, for a total value of $64,935,000.00. Following the completion of the sale, the insider now directly owns 2,866,833 shares in the company, valued at $215,012,475. The trade was a 23.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Katherine Stueland sold 51,420 shares of the company's stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $94.48, for a total value of $4,858,161.60. Following the completion of the transaction, the chief executive officer now directly owns 1,720 shares in the company, valued at approximately $162,505.60. This represents a 96.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,229,965 shares of company stock valued at $93,006,163. 27.30% of the stock is owned by insiders.

Hedge Funds Weigh In On GeneDx

Hedge funds have recently bought and sold shares of the business. Barclays PLC grew its holdings in shares of GeneDx by 346.3% during the 3rd quarter. Barclays PLC now owns 18,921 shares of the company's stock worth $803,000 after purchasing an additional 14,681 shares in the last quarter. Renaissance Technologies LLC bought a new position in GeneDx in the 2nd quarter valued at about $2,362,000. Chartwell Investment Partners LLC acquired 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 3rd quarter. Charles Schwab Investment Management Inc. now owns 147,034 shares of the company's stock worth $6,240,000 after acquiring an additional 110,666 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in GeneDx in the third quarter valued at approximately $325,000. 61.72% of the stock is owned by institutional investors.

GeneDx Stock Up 2.1 %

NASDAQ WGS traded up $1.61 during trading on Friday, hitting $79.27. The stock had a trading volume of 877,271 shares, compared to its average volume of 964,611. GeneDx has a 12 month low of $2.85 and a 12 month high of $98.87. 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 company's 50-day moving average price is $77.89 and its two-hundred day moving average price is $56.44. The company has a market capitalization of $2.18 billion, a PE ratio of -25.49 and a beta of 2.02.

GeneDx (NASDAQ:WGS - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.04 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 business had revenue of $76.90 million for the quarter, compared to analyst estimates of $64.98 million. During the same quarter in the previous year, the firm posted ($0.82) earnings per share. The firm's revenue for the quarter was up 44.3% on a year-over-year basis. As a group, sell-side analysts forecast that GeneDx will post -0.24 EPS for the current year.

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.