GeneDx (NASDAQ:WGS) Director Buys $20,208,077.88 in Stock

GeneDx Holdings Corp. (NASDAQ:WGS) Director Keith Meister acquired 533,758 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were bought at an average cost of $37.86 per share, for a total transaction of $20,208,077.88. Following the transaction, the director directly owned 3,761,908 shares of the company’s stock, valued at approximately $142,425,836.88. This trade represents a 16.53% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

GeneDx Trading Down 1.4%

NASDAQ:WGS opened at $38.94 on Thursday. The stock has a 50-day simple moving average of $65.54 and a 200-day simple moving average of $103.07. The stock has a market cap of $1.16 billion, a P/E ratio of -14.53 and a beta of 2.06. GeneDx Holdings Corp. has a 1 year low of $32.21 and a 1 year high of $170.87. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.95 and a current ratio of 3.09.

GeneDx (NASDAQ:WGS) last announced its earnings results on Monday, May 4th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.22). GeneDx had a negative net margin of 17.58% and a positive return on equity of 9.15%. The firm had revenue of $102.25 million during the quarter, compared to analyst estimates of $112.46 million. During the same period last year, the company earned ($0.23) earnings per share. As a group, analysts anticipate that GeneDx Holdings Corp. will post -1 earnings per share for the current fiscal year.

Institutional Trading of GeneDx

Several institutional investors and hedge funds have recently added to or reduced their stakes in WGS. Goldman Sachs Group Inc. increased its stake in GeneDx by 4.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,220,502 shares of the company’s stock worth $158,738,000 after purchasing an additional 52,322 shares in the last quarter. Vanguard Group Inc. lifted its position in GeneDx by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 1,189,069 shares of the company’s stock worth $154,650,000 after buying an additional 18,647 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of GeneDx by 60.4% during the 4th quarter. Franklin Resources Inc. now owns 1,092,988 shares of the company’s stock valued at $142,154,000 after buying an additional 411,607 shares during the period. Westfield Capital Management Co. LP increased its stake in shares of GeneDx by 87.1% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,018,261 shares of the company’s stock worth $132,435,000 after acquiring an additional 474,167 shares during the last quarter. Finally, Invesco Ltd. boosted its position in GeneDx by 59.2% during the fourth quarter. Invesco Ltd. now owns 786,466 shares of the company’s stock valued at $102,288,000 after purchasing an additional 292,394 shares during the last quarter. 61.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on WGS. Jefferies Financial Group set a $150.00 price objective on GeneDx in a report on Monday, February 23rd. Canaccord Genuity Group set a $75.00 target price on GeneDx and gave the stock a “buy” rating in a report on Tuesday, May 5th. BTIG Research decreased their price target on shares of GeneDx from $170.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, May 5th. Weiss Ratings reissued a “sell (d)” rating on shares of GeneDx in a research report on Wednesday, January 21st. Finally, Guggenheim cut their price target on GeneDx from $100.00 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, May 5th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.43.

GeneDx Company Profile

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.