GeneDx Holdings Corp. (NASDAQ:WGS) Given Average Rating of "Moderate Buy" by Brokerages

Shares of GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the six ratings firms that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $41.67.

A number of equities research analysts have recently weighed in on the company. BTIG Research boosted their price target on GeneDx from $35.00 to $45.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. The Goldman Sachs Group boosted their price target on GeneDx from $32.00 to $54.00 and gave the company a "neutral" rating in a report on Wednesday. Craig Hallum boosted their price target on GeneDx from $43.00 to $46.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. Wells Fargo & Company assumed coverage on GeneDx in a report on Tuesday, August 27th. They issued an "equal weight" rating and a $34.00 price target for the company. Finally, TD Cowen boosted their price target on GeneDx from $46.00 to $50.00 and gave the company a "buy" rating in a report on Wednesday, July 31st.

GeneDx Stock Up 1.3 %

NASDAQ WGS traded up $0.79 during mid-day trading on Wednesday, reaching $60.78. 474,075 shares of the company's stock traded hands, compared to its average volume of 416,050. GeneDx has a 1-year low of $1.16 and a 1-year high of $61.41. The company has a fifty day simple moving average of $39.20 and a 200-day simple moving average of $28.49. The company has a current ratio of 2.38, a quick ratio of 2.22 and a debt-to-equity ratio of 0.27. The company has a market cap of $1.59 billion, a price-to-earnings ratio of -11.60 and a beta of 2.32.

GeneDx (NASDAQ:WGS - Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The company reported ($0.11) earnings per share for the quarter, beating analysts' consensus estimates of ($0.26) by $0.15. GeneDx had a negative return on equity of 22.71% and a negative net margin of 48.21%. The firm had revenue of $70.51 million during the quarter, compared to analyst estimates of $58.90 million. As a group, equities research analysts expect that GeneDx will post -0.75 EPS for the current year.

Insider Activity at GeneDx

In other GeneDx news, major shareholder Opko Health, Inc. sold 50,000 shares of the business's stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $32.61, for a total transaction of $1,630,500.00. Following the completion of the transaction, the insider now owns 3,333,403 shares in the company, valued at approximately $108,702,271.83. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other GeneDx news, CFO Kevin Feeley sold 895 shares of the business's stock in a transaction on 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 in the company, valued at approximately $1,330,200.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Opko Health, Inc. sold 50,000 shares of the company's stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $32.61, for a total value of $1,630,500.00. Following the completion of the sale, the insider now owns 3,333,403 shares of the company's stock, valued at approximately $108,702,271.83. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 618,668 shares of company stock worth $20,542,738 in the last 90 days. 28.10% of the stock is currently owned by company insiders.

Institutional Trading of GeneDx

Several institutional investors have recently modified their holdings of WGS. Oracle Investment Management Inc. lifted its holdings in shares of GeneDx by 531.7% in the first quarter. Oracle Investment Management Inc. now owns 1,126,607 shares of the company's stock valued at $10,286,000 after buying an additional 948,253 shares during the period. Driehaus Capital Management LLC acquired a new stake in shares of GeneDx during the second quarter worth $11,335,000. Assenagon Asset Management S.A. acquired a new stake in shares of GeneDx during the second quarter worth $9,575,000. Divisadero Street Capital Management LP acquired a new stake in shares of GeneDx during the second quarter worth $5,886,000. Finally, Gagnon Securities LLC raised its position in shares of GeneDx by 59.3% during the first quarter. Gagnon Securities LLC now owns 556,305 shares of the company's stock worth $5,079,000 after purchasing an additional 207,027 shares during the period. Institutional investors and hedge funds own 61.72% of the company's stock.

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.