GeneDx (NASDAQ:WGS – Get Free Report) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.
Several other analysts also recently issued reports on WGS. Weiss Ratings raised shares of GeneDx from a “sell (e+)” rating to a “sell (d)” rating in a research note on Tuesday, August 4th. Craig Hallum reissued a “buy” rating and set a $85.00 price target on shares of GeneDx in a research note on Tuesday, May 5th. TD Cowen reaffirmed a “buy” rating on shares of GeneDx in a research report on Wednesday, July 15th. Wall Street Zen upgraded GeneDx from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $75.00 target price (down from $155.00) on shares of GeneDx in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, GeneDx presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.57.
Check Out Our Latest Stock Analysis on GeneDx
GeneDx Trading Down 1.2%
GeneDx (NASDAQ:WGS – Get Free Report) last released its earnings results on Monday, August 3rd. The company reported $0.01 earnings per share (EPS) 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 firm had revenue of $114.44 million during the quarter, compared to analyst estimates of $111.01 million. During the same quarter last year, the business earned $0.36 EPS. As a group, analysts anticipate that GeneDx will post -0.41 earnings per share for the current year.
Insider Transactions at GeneDx
In other news, Director Casdin Capital, Llc purchased 150,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was purchased at an average price of $56.44 per share, for a total transaction of $8,466,000.00. Following the completion of the acquisition, the director owned 3,657,164 shares of the company’s stock, valued at approximately $206,410,336.16. This trade represents a 4.28% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Kevin Feeley sold 3,729 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $60.77, for a total value of $226,611.33. Following the completion of the transaction, the chief financial officer directly owned 39,954 shares in the company, valued at approximately $2,428,004.58. This trade represents a 8.54% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 19,135 shares of company stock valued at $1,128,499. 25.17% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On GeneDx
Institutional investors and hedge funds have recently bought and sold shares of the company. Arizona State Retirement System lifted its holdings in shares of GeneDx by 2.1% in the 4th quarter. Arizona State Retirement System now owns 5,594 shares of the company’s stock worth $728,000 after buying an additional 113 shares during the period. Cerity Partners LLC grew its position in shares of GeneDx by 6.0% during the 4th quarter. Cerity Partners LLC now owns 2,527 shares of the company’s stock worth $329,000 after buying an additional 142 shares in the last quarter. Main Management ETF Advisors LLC increased its stake in shares of GeneDx by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 15,660 shares of the company’s stock valued at $2,037,000 after buying an additional 160 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of GeneDx by 5.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,702 shares of the company’s stock valued at $399,000 after buying an additional 181 shares during the period. Finally, Strs Ohio raised its holdings in shares of GeneDx by 8.7% in the first quarter. Strs Ohio now owns 2,500 shares of the company’s stock valued at $161,000 after acquiring an additional 200 shares in the last quarter. 61.72% of the stock is owned by institutional investors.
GeneDx Company Profile
GeneDx is a clinical diagnostics company specializing in comprehensive genetic and genomic testing for rare and inherited disorders. The company offers a broad portfolio of assays, including targeted gene panels, whole exome sequencing, whole genome sequencing and chromosomal microarray analysis. GeneDx’s laboratory services support the diagnosis of a wide range of conditions—from rare pediatric diseases and hereditary cancer syndromes to neuromuscular and metabolic disorders—by providing clinicians with detailed variant interpretation and reporting.
Founded in 2000 and based in Gaithersburg, Maryland, GeneDx was established with the aim of accelerating the translation of genomic discoveries into clinical care.
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