GeneDx Holdings Corp. (NASDAQ:WGS) Receives $150.71 Average Target Price from Analysts

GeneDx Holdings Corp. (NASDAQ:WGS) has earned a consensus rating of “Moderate Buy” from the nine brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $150.7143.

Several analysts recently issued reports on the stock. Zacks Research upgraded shares of GeneDx from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 25th. Wall Street Zen cut GeneDx from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Wells Fargo & Company raised GeneDx from an “equal weight” rating to an “overweight” rating and set a $155.00 target price on the stock in a report on Monday, February 9th. Canaccord Genuity Group lifted their price target on GeneDx from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. Finally, BTIG Research lowered their price target on GeneDx from $200.00 to $170.00 and set a “buy” rating for the company in a report on Tuesday, February 24th.

Insiders Place Their Bets

In other GeneDx news, Director Keith A. Meister bought 140,026 shares of the stock in a transaction on Thursday, March 5th. The stock was purchased at an average price of $81.19 per share, with a total value of $11,368,710.94. Following the completion of the purchase, the director owned 3,228,150 shares in the company, valued at $262,093,498.50. The trade was a 4.53% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Bryan Dechairo sold 5,961 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $85.70, for a total transaction of $510,857.70. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 65,875 shares of company stock worth $5,280,990. Insiders own 29.60% of the company’s stock.

Hedge Funds Weigh In On GeneDx

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd grew its stake in shares of GeneDx by 3,704.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 837 shares of the company’s stock worth $109,000 after buying an additional 815 shares during the last quarter. Invesco Ltd. lifted its stake in shares of GeneDx by 59.2% in the 4th quarter. Invesco Ltd. now owns 786,466 shares of the company’s stock valued at $102,288,000 after acquiring an additional 292,394 shares during the last quarter. Beacon Pointe Advisors LLC bought a new position in shares of GeneDx in the 4th quarter valued at $208,000. Regal Partners Ltd boosted its holdings in shares of GeneDx by 180.0% during the 4th quarter. Regal Partners Ltd now owns 7,000 shares of the company’s stock valued at $910,000 after acquiring an additional 4,500 shares in the last quarter. Finally, Empowered Funds LLC acquired a new stake in shares of GeneDx during the 4th quarter valued at $73,000. Institutional investors own 61.72% of the company’s stock.

GeneDx Price Performance

Shares of NASDAQ WGS opened at $57.09 on Wednesday. The stock has a market capitalization of $1.67 billion, a P/E ratio of -76.12 and a beta of 2.03. The stock’s fifty day moving average is $85.54 and its 200 day moving average is $116.57. GeneDx has a 52 week low of $55.17 and a 52 week high of $170.87. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.34 and a current ratio of 2.46.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings data on Monday, February 23rd. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.03. The business had revenue of $120.99 million during the quarter, compared to analysts’ expectations of $120.80 million. GeneDx had a negative net margin of 4.92% and a positive return on equity of 14.73%. Sell-side analysts forecast that GeneDx will post 0.97 earnings per share for the current fiscal year.

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.