GeneDx (NASDAQ:WGS) Director Keith Meister Buys 500,000 Shares

GeneDx Holdings Corp. (NASDAQ:WGS) Director Keith Meister purchased 500,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average cost of $39.29 per share, for a total transaction of $19,645,000.00. Following the completion of the acquisition, the director directly owned 4,433,297 shares in the company, valued at $174,184,239.13. The trade was a 12.71% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

GeneDx Price Performance

WGS stock traded down $1.16 during trading on Monday, reaching $39.61. 1,816,661 shares of the company were exchanged, compared to its average volume of 1,665,234. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -14.78 and a beta of 2.06. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.09 and a quick ratio of 2.95. The company has a 50-day moving average of $67.05 and a two-hundred day moving average of $104.25. GeneDx Holdings Corp. has a twelve month low of $32.21 and a twelve month high of $170.87.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings data on Monday, May 4th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.22). The company had revenue of $102.25 million during the quarter, compared to the consensus estimate of $112.46 million. GeneDx had a negative net margin of 17.58% and a positive return on equity of 9.15%. During the same period in the previous year, the company earned ($0.23) EPS. As a group, equities analysts predict that GeneDx Holdings Corp. will post 0.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GeneDx

Institutional investors have recently made changes to their positions in the stock. Jones Financial Companies Lllp raised its holdings in shares of GeneDx by 664.3% during the third quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock valued at $25,000 after purchasing an additional 186 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of GeneDx during the fourth quarter valued at about $27,000. Fifth Third Bancorp acquired a new position in shares of GeneDx during the first quarter valued at about $31,000. Quarry LP raised its holdings in shares of GeneDx by 248.8% during the third quarter. Quarry LP now owns 293 shares of the company’s stock valued at $32,000 after purchasing an additional 209 shares during the period. Finally, Ramirez Asset Management Inc. acquired a new position in shares of GeneDx during the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on WGS. Guggenheim dropped their price objective on shares of GeneDx from $100.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, May 5th. Zacks Research lowered GeneDx from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. Piper Sandler restated an “overweight” rating and set a $130.00 price objective (down from $160.00) on shares of GeneDx in a research report on Tuesday, February 24th. Jefferies Financial Group set a $150.00 target price on shares of GeneDx in a report on Monday, February 23rd. Finally, Weiss Ratings restated a “sell (d)” rating on shares of GeneDx in a report on Wednesday, January 21st. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $96.43.

About GeneDx

GeneDx is a clinical diagnostics company specializing in comprehensive genetic and genomic testing for rare and inherited disorders. The company offers a broad portfolio of assays, including targeted gene panels, whole exome sequencing, whole genome sequencing and chromosomal microarray analysis. GeneDx’s laboratory services support the diagnosis of a wide range of conditions—from rare pediatric diseases and hereditary cancer syndromes to neuromuscular and metabolic disorders—by providing clinicians with detailed variant interpretation and reporting.

Founded in 2000 and based in Gaithersburg, Maryland, GeneDx was established with the aim of accelerating the translation of genomic discoveries into clinical care.