GeneDx Holdings Corp. (NASDAQ:WGS) Director Acquires $5,601,000.00 in Stock

GeneDx Holdings Corp. (NASDAQ:WGS) Director Keith A. Meister purchased 100,000 shares of the firm’s stock in a transaction on Thursday, May 8th. The shares were purchased at an average cost of $56.01 per share, for a total transaction of $5,601,000.00. Following the completion of the purchase, the director now directly owns 3,008,629 shares in the company, valued at $168,513,310.29. The trade was a 3.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

GeneDx Price Performance

WGS opened at $59.45 on Thursday. The company’s 50 day simple moving average is $88.00 and its 200 day simple moving average is $82.67. 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 Holdings Corp. has a 1 year low of $19.16 and a 1 year high of $117.75. The stock has a market capitalization of $1.67 billion, a PE ratio of -30.33 and a beta of 1.96.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. TD Securities decreased their price target on shares of 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 decreased their target price on shares of GeneDx from $105.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. Jefferies Financial Group raised shares of GeneDx from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research report on Friday, May 9th. Finally, The Goldman Sachs Group raised their target price on shares of GeneDx from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $86.57.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WGS. William Blair Investment Management LLC acquired a new position in GeneDx during the fourth quarter valued at approximately $51,496,000. Lord Abbett & CO. LLC acquired a new position in GeneDx during the fourth quarter valued at approximately $48,458,000. Summit Partners Public Asset Management LLC lifted its position in GeneDx by 336.9% during 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 buying an additional 582,619 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in GeneDx during the first quarter valued at approximately $44,614,000. Finally, Science & Technology Partners L.P. acquired a new position in GeneDx during the fourth quarter valued at approximately $30,821,000. 61.72% of the stock is owned by institutional investors and hedge funds.

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.