GeneDx Holdings Corp. (NASDAQ:WGS) Receives $70.67 Average Price Target from Brokerages

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) have been given a consensus recommendation of “Moderate Buy” by the six brokerages that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $70.67.

WGS has been the subject of a number of research analyst reports. The Goldman Sachs Group raised their price objective on shares of GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Wells Fargo & Company lifted their price objective on shares of GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. TD Cowen increased their target price on GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Finally, Craig Hallum lifted their price target on GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th.

GeneDx Price Performance

Shares of NASDAQ:WGS opened at $77.86 on Friday. GeneDx has a 1-year low of $3.62 and a 1-year high of $98.87. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. The stock has a market cap of $2.14 billion, a PE ratio of -25.04 and a beta of 2.02. The stock’s fifty day simple moving average is $78.37 and its two-hundred day simple moving average is $57.69.

GeneDx (NASDAQ:WGS) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.25. The company had revenue of $76.90 million for the quarter, compared to analyst estimates of $64.98 million. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The firm’s revenue was up 44.3% on a year-over-year basis. During the same period last year, the firm earned ($0.82) earnings per share. As a group, analysts forecast that GeneDx will post -0.24 EPS for the current fiscal year.

Insider Activity

In related news, CEO Katherine Stueland sold 51,420 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $94.48, for a total transaction of $4,858,161.60. Following the transaction, the chief executive officer now owns 1,720 shares in the company, valued at $162,505.60. The trade was a 96.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder School Of Medicine At Mo Icahn sold 126,782 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $70.78, for a total value of $8,973,629.96. Following the completion of the sale, the insider now owns 2,719,692 shares of the company’s stock, valued at approximately $192,499,799.76. This trade represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 361,737 shares of company stock valued at $27,909,458. Insiders own 27.30% of the company’s stock.

Institutional Investors Weigh In On GeneDx

A number of large investors have recently modified their holdings of WGS. Driehaus Capital Management LLC bought a new position in GeneDx in the second quarter worth about $11,335,000. Fred Alger Management LLC purchased a new position in shares of GeneDx during the 3rd quarter worth approximately $16,731,000. Geode Capital Management LLC lifted its stake in shares of GeneDx by 8.7% in the 3rd quarter. Geode Capital Management LLC now owns 377,631 shares of the company’s stock valued at $16,030,000 after purchasing an additional 30,379 shares during the period. State Street Corp boosted its position in shares of GeneDx by 18.3% during the third quarter. State Street Corp now owns 314,914 shares of the company’s stock valued at $13,365,000 after purchasing an additional 48,735 shares in the last quarter. Finally, Millennium Management LLC grew its stake in GeneDx by 193.5% in the second quarter. Millennium Management LLC now owns 311,401 shares of the company’s stock worth $8,140,000 after purchasing an additional 205,318 shares during the period. Institutional investors own 61.72% of the company’s stock.

About GeneDx

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.