Insider Buying: GeneDx Holdings Corp. (NASDAQ:WGS) Director Acquires 100,000 Shares of Stock

GeneDx Holdings Corp. (NASDAQ:WGS) Director Keith A. Meister acquired 100,000 shares of GeneDx stock in a transaction that occurred on Thursday, May 8th. The stock was bought at an average cost of $56.01 per share, with a total value of $5,601,000.00. Following the acquisition, the director now directly owns 3,008,629 shares of the company’s stock, valued at approximately $168,513,310.29. This trade represents a 3.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

GeneDx Price Performance

WGS opened at $60.93 on Wednesday. GeneDx Holdings Corp. has a 12-month low of $19.16 and a 12-month high of $117.75. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $1.71 billion, a P/E ratio of -31.09 and a beta of 1.96. The stock has a fifty day moving average of $88.77 and a 200-day moving average of $82.83.

GeneDx (NASDAQ:WGS) last released its earnings results on Wednesday, April 30th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.17. The company had revenue of $87.12 million for the quarter, compared to analysts’ expectations of $79.90 million. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. Equities analysts forecast that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WGS. Barclays PLC lifted its position in GeneDx by 346.3% in the 3rd quarter. Barclays PLC now owns 18,921 shares of the company’s stock worth $803,000 after buying an additional 14,681 shares in the last quarter. Envestnet Asset Management Inc. acquired a new position in GeneDx in the 4th quarter worth about $380,000. Prudential Financial Inc. acquired a new stake in shares of GeneDx during the 4th quarter valued at about $7,938,000. JPMorgan Chase & Co. lifted its holdings in shares of GeneDx by 617.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 52,161 shares of the company’s stock valued at $2,214,000 after buying an additional 44,889 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of GeneDx in the 4th quarter valued at approximately $20,371,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on WGS shares. The Goldman Sachs Group raised their price objective on shares of GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Wells Fargo & Company dropped their price target on shares of GeneDx from $105.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. TD Securities cut their price target on shares of GeneDx from $135.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Finally, Jefferies Financial Group raised shares of GeneDx from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a research note on Friday, May 9th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, GeneDx currently has a consensus rating of “Moderate Buy” and an average price target of $86.57.

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.