GeneDx (NASDAQ:WGS) Now Covered by Analysts at Guggenheim

Guggenheim initiated coverage on shares of GeneDx (NASDAQ:WGS) in a report issued on Thursday, MarketBeat.com reports. The brokerage issued a buy rating and a $88.00 price target on the stock.

Several other equities analysts have also weighed in on the stock. The Goldman Sachs Group lifted their target price on shares of GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. TD Securities reduced their price objective on GeneDx from $135.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company lowered their target price on GeneDx from $105.00 to $78.00 and set an “equal weight” rating for the company in a research note on Thursday, May 1st. Finally, Jefferies Financial Group raised GeneDx from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research report on Friday, May 9th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $86.75.

GeneDx Stock Up 7.0%

Shares of NASDAQ WGS opened at $63.61 on Thursday. The firm has a market cap of $1.81 billion, a P/E ratio of -32.45 and a beta of 1.96. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. GeneDx has a 1 year low of $19.16 and a 1 year high of $117.75. The firm’s 50 day moving average price is $87.48 and its 200 day moving average price is $82.72.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.17. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. The company had revenue of $87.12 million during the quarter, compared to analysts’ expectations of $79.90 million. As a group, sell-side analysts anticipate that GeneDx will post 0.97 earnings per share for the current year.

Insider Activity

In other news, CFO Kevin Feeley sold 388 shares of the stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $113.09, for a total transaction of $43,878.92. Following the transaction, the chief financial officer now owns 3,337 shares of the company’s stock, valued at approximately $377,381.33. This trade represents a 10.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Katherine Stueland sold 2,731 shares of GeneDx stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $94.73, for a total value of $258,707.63. Following the completion of the transaction, the chief executive officer now owns 7,752 shares of the company’s stock, valued at $734,346.96. This trade represents a 26.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 139,390 shares of company stock worth $13,043,288. 29.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of GeneDx by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 1,031,326 shares of the company’s stock valued at $91,339,000 after buying an additional 25,116 shares during the last quarter. Summit Partners Public Asset Management LLC boosted its stake in GeneDx by 336.9% in the fourth quarter. Summit Partners Public Asset Management LLC now owns 755,564 shares of the company’s stock valued at $58,073,000 after acquiring an additional 582,619 shares during the period. William Blair Investment Management LLC bought a new position in shares of GeneDx during the fourth quarter valued at approximately $51,496,000. Lord Abbett & CO. LLC acquired a new stake in shares of GeneDx during the 4th quarter worth approximately $48,458,000. Finally, Fred Alger Management LLC lifted its holdings in shares of GeneDx by 38.5% in the 4th quarter. Fred Alger Management LLC now owns 546,054 shares of the company’s stock worth $41,970,000 after purchasing an additional 151,824 shares during the last quarter. 61.72% of the stock is currently owned by institutional investors.

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.