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

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

A number of brokerages have commented on WGS. Craig Hallum raised 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. The Goldman Sachs Group raised their target price on GeneDx from $54.00 to $70.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company upped their price target on GeneDx from $34.00 to $75.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th.

Insider Transactions at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 2,154 shares of the firm's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $66.60, for a total value of $143,456.40. Following the completion of the sale, the chief executive officer now owns 105,426 shares in the company, valued at approximately $7,021,371.60. This trade represents a 2.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of the company's stock in a transaction that occurred on 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,123,603 shares of company stock valued at $83,300,382 in the last three months. 27.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On GeneDx

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC bought a new position in GeneDx in the second quarter valued at about $34,000. nVerses Capital LLC bought a new position in shares of GeneDx in the 2nd quarter valued at about $50,000. CWM LLC bought a new position in shares of GeneDx in the 3rd quarter valued at about $89,000. SG Americas Securities LLC acquired a new stake in shares of GeneDx during the 3rd quarter worth approximately $198,000. Finally, Point72 DIFC Ltd bought a new stake in shares of GeneDx during the third quarter worth approximately $220,000. 61.72% of the stock is owned by institutional investors and hedge funds.

GeneDx Stock Performance

Shares of WGS traded down $1.47 on Monday, reaching $76.58. 370,286 shares of the stock traded hands, compared to its average volume of 456,870. The stock's 50-day moving average price is $74.30 and its 200-day moving average price is $49.46. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of -24.62 and a beta of 2.03. GeneDx has a 12 month low of $2.47 and a 12 month high of $89.11.

GeneDx (NASDAQ:WGS - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share (EPS) for the quarter, beating 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 firm 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) EPS. The business's revenue for the quarter was up 44.3% on a year-over-year basis. Equities analysts forecast that GeneDx will post -0.24 EPS for the current fiscal 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.