GeneDx Holdings Corp. (NASDAQ:WGS – Get Free Report) has been assigned an average rating of “Moderate Buy” from the nine research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $90.86.
A number of research analysts have recently issued reports on the stock. Zacks Research lowered shares of GeneDx from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 9th. Piper Sandler reissued an “overweight” rating and set a $63.00 price target (up from $50.00) on shares of GeneDx in a report on Tuesday, June 23rd. Weiss Ratings upgraded shares of GeneDx from a “sell (e+)” rating to a “sell (d)” rating in a research report on Tuesday, August 4th. Canaccord Genuity Group raised their price objective on shares of GeneDx from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Finally, Guggenheim lifted their price objective on GeneDx from $74.00 to $83.00 and gave the company a “buy” rating in a report on Thursday, October 1st.
Check Out Our Latest Report on GeneDx
GeneDx Stock Performance
NASDAQ:WGS opened at $70.22 on Friday. The firm’s fifty day moving average price is $82.21 and its 200 day moving average price is $67.34. GeneDx has a 1-year low of $32.21 and a 1-year high of $170.87. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.30 and a quick ratio of 3.06. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of -19.29 and a beta of 1.95.
GeneDx (NASDAQ:WGS – Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.20. The company had revenue of $114.44 million for the quarter, compared to analysts’ expectations of $111.01 million. GeneDx had a negative net margin of 23.41% and a positive return on equity of 4.12%. During the same period in the previous year, the company posted $0.36 EPS. On average, sell-side analysts expect that GeneDx will post -0.41 EPS for the current year.
Insider Buying and Selling
In related news, CFO Kevin Feeley sold 3,728 shares of GeneDx stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $97.61, for a total value of $363,890.08. Following the sale, the chief financial officer directly owned 44,945 shares in the company, valued at $4,387,081.45. The trade was a 7.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Katherine Stueland sold 10,501 shares of GeneDx stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $97.61, for a total value of $1,025,002.61. Following the completion of the sale, the chief executive officer owned 115,476 shares in the company, valued at approximately $11,271,612.36. This trade represents a 8.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 19,206 shares of company stock valued at $1,808,056. Company insiders own 25.17% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the business. Fifth Third Bancorp purchased a new stake in shares of GeneDx during the 1st quarter worth $31,000. Nykredit A S purchased a new position in shares of GeneDx in the 2nd quarter valued at about $38,000. OP Asset Management Ltd purchased a new position in shares of GeneDx in the 1st quarter valued at about $45,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of GeneDx by 3,704.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 837 shares of the company’s stock valued at $109,000 after purchasing an additional 815 shares during the period. Finally, Strs Ohio lifted its stake 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 purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 61.72% of the company’s stock.
GeneDx Company Profile
GeneDx (NASDAQ: WGS) is a precision health company that provides genetic testing and related data services. The company focuses on helping healthcare professionals identify genetic conditions, support diagnosis and treatment decisions, and better understand inherited disease.
Its offerings include exome and genome sequencing, testing for rare and undiagnosed disorders, hereditary cancer testing, and other genetic analyses. GeneDx also provides clinical interpretation and reporting intended to help physicians evaluate genetic results in the context of a patient’s symptoms and family history.
Founded in 2000, GeneDx has built a business around genomic testing for patients with rare diseases and other inherited conditions.
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