GeneDx Holdings Corp. (NASDAQ:WGS) Receives $89.57 Consensus Target Price from Analysts

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) have been assigned an average rating of “Moderate Buy” from the nine research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $89.5714.

WGS has been the topic of several analyst reports. Wall Street Zen upgraded shares of GeneDx from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Craig Hallum reissued a “buy” rating and set a $85.00 price target on shares of GeneDx in a research report on Tuesday, May 5th. Guggenheim restated a “buy” rating and issued a $74.00 price objective (up from $70.00) on shares of GeneDx in a report on Monday, June 29th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $75.00 price objective (down from $155.00) on shares of GeneDx in a research report on Tuesday, May 5th. Finally, Canaccord Genuity Group increased their target price on GeneDx from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th.

GeneDx Price Performance

WGS opened at $86.33 on Friday. The stock has a 50-day moving average price of $70.72 and a 200-day moving average price of $67.11. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.30 and a quick ratio of 3.06. The firm has a market cap of $2.57 billion, a PE ratio of -23.72 and a beta of 1.92. GeneDx has a 1 year low of $32.21 and a 1 year high of $170.87.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.19) by $0.20. The company had revenue of $114.44 million for the quarter, compared to the consensus estimate of $111.01 million. GeneDx had a negative net margin of 23.41% and a positive return on equity of 4.12%. During the same period in the prior year, the firm posted $0.36 EPS. Sell-side analysts predict that GeneDx will post -0.41 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Katherine Stueland sold 10,501 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $60.77, for a total transaction of $638,145.77. Following the transaction, the chief executive officer directly owned 104,372 shares of the company’s stock, valued at $6,342,686.44. This represents a 9.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Casdin Capital, Llc acquired 150,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were acquired at an average cost of $56.44 per share, for a total transaction of $8,466,000.00. Following the completion of the transaction, the director directly owned 3,657,164 shares of the company’s stock, valued at $206,410,336.16. The trade was a 4.28% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 19,135 shares of company stock valued at $1,128,499 over the last ninety days. 25.17% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System lifted its position in GeneDx by 2.1% during the fourth quarter. Arizona State Retirement System now owns 5,594 shares of the company’s stock valued at $728,000 after purchasing an additional 113 shares during the period. Cerity Partners LLC grew its position in GeneDx by 6.0% in the 4th quarter. Cerity Partners LLC now owns 2,527 shares of the company’s stock worth $329,000 after purchasing an additional 142 shares during the period. Main Management ETF Advisors LLC grew its position in GeneDx by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 15,660 shares of the company’s stock worth $2,037,000 after purchasing an additional 160 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in GeneDx by 5.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,702 shares of the company’s stock valued at $399,000 after buying an additional 181 shares during the last quarter. Finally, Strs Ohio lifted its holdings in shares of GeneDx by 8.7% during the 1st quarter. Strs Ohio now owns 2,500 shares of the company’s stock valued at $161,000 after buying an additional 200 shares during the period. 61.72% of the stock is owned by hedge funds and other institutional investors.

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.