GeneDx Holdings Corp. (NASDAQ:WGS) Receives $112.80 Average Target Price from Brokerages

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) have been given a consensus recommendation of “Moderate Buy” by the twelve brokerages that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $112.80.

Several research firms recently issued reports on WGS. BTIG Research lifted their price target on shares of GeneDx from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Wells Fargo & Company raised their price objective on shares of GeneDx from $78.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 30th. Canaccord Genuity Group set a $155.00 price objective on shares of GeneDx and gave the stock a “buy” rating in a report on Monday, October 20th. Wall Street Zen raised shares of GeneDx from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Finally, Piper Sandler raised their price objective on shares of GeneDx from $120.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, September 11th.

Insider Activity at GeneDx

In other GeneDx news, Director Casdin Capital, Llc sold 500,000 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $120.90, for a total transaction of $60,450,000.00. Following the completion of the transaction, the director directly owned 3,007,164 shares of the company’s stock, valued at $363,566,127.60. This trade represents a 14.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jason Ryan sold 38,072 shares of the firm’s 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 transaction, the director directly owned 103,284 shares of the company’s stock, valued at approximately $13,148,053.20. This represents a 26.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 553,829 shares of company stock valued at $67,221,616 in the last 90 days. 29.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its stake in GeneDx by 151.7% during the 1st quarter. GAMMA Investing LLC now owns 438 shares of the company’s stock valued at $39,000 after purchasing an additional 264 shares during the period. US Bancorp DE grew its position in GeneDx by 3,223.5% in the 1st quarter. US Bancorp DE now owns 565 shares of the company’s stock worth $50,000 after purchasing an additional 548 shares during the last quarter. AlphaQuest LLC grew its position in GeneDx by 351.5% in the 2nd quarter. AlphaQuest LLC now owns 763 shares of the company’s stock worth $70,000 after purchasing an additional 594 shares during the last quarter. KBC Group NV bought a new position in GeneDx in the 1st quarter worth about $81,000. Finally, PNC Financial Services Group Inc. bought a new position in GeneDx in the 1st quarter worth about $132,000. 61.72% of the stock is owned by institutional investors and hedge funds.

GeneDx Stock Performance

GeneDx stock opened at $137.47 on Friday. GeneDx has a 12-month low of $55.17 and a 12-month high of $146.00. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of 2,749.40 and a beta of 1.98. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.87 and a quick ratio of 2.70. The firm’s fifty day moving average price is $123.66 and its 200 day moving average price is $98.28.

GeneDx (NASDAQ:WGS) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.40. GeneDx had a net margin of 0.39% and a return on equity of 16.51%. The firm had revenue of $102.69 million for the quarter, compared to the consensus estimate of $86.00 million. On average, research analysts forecast that GeneDx will post 0.97 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.