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

Shares of GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) have been given an average recommendation of "Moderate Buy" by the six research firms that are covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $59.33.

Several research firms have weighed in on WGS. TD Cowen increased 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. BTIG Research increased their target price on GeneDx from $35.00 to $45.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. The Goldman Sachs Group upped 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. Wells Fargo & Company lifted their target price on GeneDx from $34.00 to $75.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Finally, Craig Hallum upped their price target on shares of GeneDx from $70.00 to $95.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th.

GeneDx Stock Performance

Shares of WGS traded up $2.62 during mid-day trading on Friday, reaching $77.80. The company's stock had a trading volume of 674,679 shares, compared to its average volume of 736,207. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. GeneDx has a 1-year low of $1.16 and a 1-year high of $89.11. The business has a 50-day simple moving average of $51.68 and a two-hundred day simple moving average of $35.86. The stock has a market cap of $2.14 billion, a P/E ratio of -25.02 and a beta of 2.11.

GeneDx (NASDAQ:WGS - Get Free Report) last released 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. The firm had revenue of $76.90 million during the quarter, compared to analysts' expectations of $64.98 million. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The company's revenue for the quarter was up 44.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.82) earnings per share. As a group, equities research analysts anticipate that GeneDx will post -0.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other GeneDx news, CFO Kevin Feeley sold 895 shares of the business's stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $33.33, for a total transaction of $29,830.35. Following the completion of the transaction, the chief financial officer now directly owns 39,910 shares in the company, valued at $1,330,200.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other GeneDx news, CFO Kevin Feeley sold 895 shares of the business's stock in a transaction dated 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 transaction, the chief financial officer now owns 39,910 shares of the company's stock, valued at approximately $1,330,200.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of the stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $75.00, for a total transaction of $64,935,000.00. Following the completion of the transaction, the insider now directly owns 2,866,833 shares of the company's stock, valued at $215,012,475. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,022,635 shares of company stock worth $70,327,778 over the last ninety days. Corporate insiders own 27.30% of the company's stock.

Institutional Trading of GeneDx

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC bought a new position in GeneDx in the 2nd quarter valued at approximately $34,000. nVerses Capital LLC acquired a new position in GeneDx in the 2nd quarter valued at approximately $50,000. CWM LLC bought a new position in shares of GeneDx during the third quarter valued at $89,000. SG Americas Securities LLC acquired a new position in shares of GeneDx during the third quarter worth $198,000. Finally, Palumbo Wealth Management LLC bought a new stake in shares of GeneDx in the third quarter worth $287,000. 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.