GeneDx Holdings Corp. (NASDAQ:WGS) Receives $38.00 Consensus Price Target from Analysts

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) have received a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $38.00.

A number of research analysts have weighed in on the company. TD Cowen raised their price objective on GeneDx from $46.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Wells Fargo & Company started coverage on shares of GeneDx in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $34.00 price target on the stock. Jefferies Financial Group began coverage on shares of GeneDx in a report on Monday, June 3rd. They issued a “hold” rating and a $21.00 price objective for the company. Craig Hallum boosted their target price on GeneDx from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group increased their price target on GeneDx from $28.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st.

Insider Transactions at GeneDx

In related news, CEO Katherine Stueland sold 2,154 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $33.54, for a total value of $72,245.16. Following the transaction, the chief executive officer now directly owns 92,550 shares in the company, valued at $3,104,127. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Katherine Stueland sold 2,154 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $33.54, for a total value of $72,245.16. Following the sale, the chief executive officer now directly owns 92,550 shares in the company, valued at approximately $3,104,127. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Opko Health, Inc. sold 14,082 shares of the stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $28.23, for a total transaction of $397,534.86. Following the transaction, the insider now directly owns 3,469,521 shares of the company’s stock, valued at approximately $97,944,577.83. The disclosure for this sale can be found here. Insiders sold 743,868 shares of company stock worth $24,114,996 in the last 90 days. Insiders own 28.10% of the company’s stock.

Institutional Trading of GeneDx

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Decheng Capital LLC purchased a new stake in GeneDx during the fourth quarter worth about $285,000. Thompson Davis & CO. Inc. lifted its holdings in GeneDx by 20.8% during the 1st quarter. Thompson Davis & CO. Inc. now owns 24,094 shares of the company’s stock worth $220,000 after buying an additional 4,150 shares in the last quarter. Vanguard Group Inc. boosted its position in GeneDx by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 707,612 shares of the company’s stock valued at $6,460,000 after buying an additional 28,678 shares during the period. Gagnon Advisors LLC grew its stake in shares of GeneDx by 41.6% in the first quarter. Gagnon Advisors LLC now owns 211,393 shares of the company’s stock worth $1,930,000 after acquiring an additional 62,059 shares in the last quarter. Finally, Gagnon Securities LLC increased its position in shares of GeneDx by 59.3% during the first quarter. Gagnon Securities LLC now owns 556,305 shares of the company’s stock worth $5,079,000 after acquiring an additional 207,027 shares during the period. Hedge funds and other institutional investors own 61.72% of the company’s stock.

GeneDx Stock Down 5.7 %

Shares of NASDAQ WGS opened at $36.84 on Friday. The firm has a market cap of $962.33 million, a price-to-earnings ratio of -7.11 and a beta of 2.29. The company’s 50-day simple moving average is $33.97 and its 200-day simple moving average is $24.34. The company has a quick ratio of 2.22, a current ratio of 2.38 and a debt-to-equity ratio of 0.27. GeneDx has a 52-week low of $1.16 and a 52-week high of $43.32.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings data on Tuesday, July 30th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.15. The company had revenue of $70.51 million during the quarter, compared to analyst estimates of $58.90 million. GeneDx had a negative return on equity of 22.71% and a negative net margin of 48.21%. Equities analysts predict that GeneDx will post -0.75 EPS for the current fiscal year.

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.