GeneDx (NASDAQ:WGS) Stock Rating Lowered by Zacks Research

GeneDx (NASDAQ:WGS) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

Several other equities analysts have also issued reports on the company. Guggenheim reaffirmed a “buy” rating and issued a $115.00 target price (up from $88.00) on shares of GeneDx in a report on Monday, June 30th. Piper Sandler increased their price objective on GeneDx from $120.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. Wall Street Zen raised GeneDx from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Weiss Ratings reissued a “sell (d)” rating on shares of GeneDx in a report on Saturday, September 27th. Finally, Wells Fargo & Company increased their price objective on GeneDx from $78.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, July 30th. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.13.

GeneDx Stock Performance

WGS stock opened at $118.26 on Thursday. The firm has a market cap of $3.40 billion, a PE ratio of 2,365.20 and a beta of 1.98. The company has a quick ratio of 2.70, a current ratio of 2.87 and a debt-to-equity ratio of 0.19. The business has a 50 day moving average of $118.82 and a 200-day moving average of $94.47. GeneDx has a 12-month low of $46.62 and a 12-month high of $136.00.

GeneDx (NASDAQ:WGS) last released its earnings results on Tuesday, July 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.40. The company had revenue of $102.69 million during the quarter, compared to analyst estimates of $86.00 million. GeneDx had a return on equity of 16.51% and a net margin of 0.39%. GeneDx has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that GeneDx will post 0.97 earnings per share for the current year.

Insider Buying and Selling

In other GeneDx news, Director Jason Ryan sold 38,072 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $127.30, for a total transaction of $4,846,565.60. Following the sale, the director owned 103,284 shares in the company, valued at $13,148,053.20. This represents a 26.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Katherine Stueland sold 10,501 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $121.47, for a total value of $1,275,556.47. Following the sale, the chief executive officer owned 14,578 shares in the company, valued at approximately $1,770,789.66. This represents a 41.87% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 564,869 shares of company stock worth $68,279,628. Insiders own 29.60% of the company’s stock.

Institutional Investors Weigh In On GeneDx

Institutional investors and hedge funds have recently made changes to their positions in the business. Chung Wu Investment Group LLC raised its position in GeneDx by 8.2% during the second quarter. Chung Wu Investment Group LLC now owns 3,300 shares of the company’s stock valued at $305,000 after purchasing an additional 250 shares in the last quarter. GAMMA Investing LLC raised its position in GeneDx by 151.7% during the first quarter. GAMMA Investing LLC now owns 438 shares of the company’s stock valued at $39,000 after purchasing an additional 264 shares in the last quarter. Palisades Investment Partners LLC raised its position in GeneDx by 0.4% during the first quarter. Palisades Investment Partners LLC now owns 83,913 shares of the company’s stock valued at $7,432,000 after purchasing an additional 309 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in GeneDx by 6.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,641 shares of the company’s stock valued at $677,000 after purchasing an additional 453 shares in the last quarter. Finally, US Bancorp DE raised its position in GeneDx by 3,223.5% during the first quarter. US Bancorp DE now owns 565 shares of the company’s stock valued at $50,000 after purchasing an additional 548 shares in the last quarter. Hedge funds and other institutional investors own 61.72% of the company’s stock.

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.