GeneDx Holdings Corp. (NASDAQ:WGS) Stock Has Average Price Target of $90.86 According to Brokerages

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) have earned a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $90.86.

Several analysts have issued reports on the company. Piper Sandler restated an “overweight” rating and set a $63.00 price objective (up from $50.00) on shares of GeneDx in a research note on Tuesday, June 23rd. Canaccord Genuity Group lifted their target price on GeneDx from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. BTIG Research reiterated a “buy” rating and issued a $90.00 price target on shares of GeneDx in a report on Tuesday, August 4th. Weiss Ratings upgraded GeneDx from a “sell (e+)” rating to a “sell (d)” rating in a report on Tuesday, August 4th. Finally, Wall Street Zen raised GeneDx from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th.

Insiders Place Their Bets

In related news, CEO Katherine Stueland sold 10,501 shares of the business’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $97.61, for a total transaction of $1,025,002.61. Following the completion of the sale, the chief executive officer owned 115,476 shares of the company’s stock, valued at $11,271,612.36. This represents a 8.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevin Feeley sold 3,728 shares of the stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $97.61, for a total transaction of $363,890.08. Following the sale, the chief financial officer owned 44,945 shares in the company, valued at approximately $4,387,081.45. This trade represents a 7.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 19,206 shares of company stock valued at $1,808,056. 25.17% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GeneDx

A number of hedge funds and other institutional investors have recently bought and sold shares of WGS. Bank of America Corp DE grew its position in shares of GeneDx by 77.5% during the first quarter. Bank of America Corp DE now owns 234,606 shares of the company’s stock worth $15,066,000 after acquiring an additional 102,456 shares during the last quarter. Lazard Asset Management LLC bought a new stake in GeneDx in the 1st quarter valued at about $2,177,000. First Light Asset Management LLC lifted its position in GeneDx by 222.7% in the 2nd quarter. First Light Asset Management LLC now owns 783,923 shares of the company’s stock valued at $53,816,000 after purchasing an additional 540,996 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in GeneDx by 65.9% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 633,457 shares of the company’s stock valued at $40,681,000 after purchasing an additional 251,732 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in GeneDx during the 2nd quarter valued at about $4,258,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

GeneDx Stock Up 1.8%

WGS stock opened at $64.96 on Friday. GeneDx has a twelve month low of $32.21 and a twelve month high of $170.87. The company has a current ratio of 3.30, a quick ratio of 3.06 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $1.94 billion, a P/E ratio of -17.85 and a beta of 1.95. The firm has a 50 day simple moving average of $82.23 and a 200-day simple moving average of $67.20.

GeneDx (NASDAQ:WGS) last released its earnings results on Monday, August 3rd. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.20. GeneDx had a negative net margin of 23.41% and a positive return on equity of 4.12%. The company had revenue of $114.44 million during the quarter, compared to the consensus estimate of $111.01 million. During the same quarter in the previous year, the firm earned $0.36 EPS. On average, equities research analysts predict that GeneDx will post -0.41 earnings per share for the current fiscal year.

GeneDx Company Profile

GeneDx (NASDAQ: WGS) is a precision health company that provides genetic testing and related data services. The company focuses on helping healthcare professionals identify genetic conditions, support diagnosis and treatment decisions, and better understand inherited disease.

Its offerings include exome and genome sequencing, testing for rare and undiagnosed disorders, hereditary cancer testing, and other genetic analyses. GeneDx also provides clinical interpretation and reporting intended to help physicians evaluate genetic results in the context of a patient’s symptoms and family history.

Founded in 2000, GeneDx has built a business around genomic testing for patients with rare diseases and other inherited conditions.