Insider Buying: GeneDx (NASDAQ:WGS) Director Buys 140,000 Shares of Stock

GeneDx Holdings Corp. (NASDAQ:WGS) Director Keith Meister purchased 140,000 shares of GeneDx stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of $39.39 per share, for a total transaction of $5,514,600.00. Following the completion of the purchase, the director owned 4,738,297 shares in the company, valued at $186,641,518.83. This represents a 3.04% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

GeneDx Price Performance

WGS stock traded up $1.90 during trading on Friday, reaching $40.75. 1,621,837 shares of the company were exchanged, compared to its average volume of 997,857. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of -15.21 and a beta of 2.06. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.09 and a quick ratio of 2.95. The company has a 50-day moving average of $64.78 and a two-hundred day moving average of $102.43. GeneDx Holdings Corp. has a twelve month low of $32.21 and a twelve month high of $170.87.

GeneDx (NASDAQ:WGS) last posted its earnings results on Monday, May 4th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.22). The company had revenue of $102.25 million for the quarter, compared to the consensus estimate of $112.46 million. GeneDx had a positive return on equity of 9.15% and a negative net margin of 17.58%.During the same period in the previous year, the firm posted ($0.23) EPS. As a group, equities analysts predict that GeneDx Holdings Corp. will post -1 earnings per share for the current fiscal year.

Institutional Trading of GeneDx

Several institutional investors have recently modified their holdings of the business. Arizona State Retirement System grew its stake in shares of GeneDx by 2.1% in the fourth quarter. Arizona State Retirement System now owns 5,594 shares of the company’s stock worth $728,000 after purchasing an additional 113 shares during the last quarter. Cerity Partners LLC grew its stake in shares of GeneDx by 6.0% in the fourth quarter. Cerity Partners LLC now owns 2,527 shares of the company’s stock worth $329,000 after purchasing an additional 142 shares during the last quarter. Main Management ETF Advisors LLC grew its stake in shares of GeneDx by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 15,660 shares of the company’s stock worth $2,037,000 after purchasing an additional 160 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of GeneDx by 5.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,702 shares of the company’s stock worth $399,000 after purchasing an additional 181 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its stake in shares of GeneDx by 664.3% in the third quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock worth $25,000 after purchasing an additional 186 shares during the last quarter. Institutional investors own 61.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on WGS shares. BTIG Research lowered their target price on GeneDx from $170.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. Guggenheim cut their price target on GeneDx from $100.00 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, May 5th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $75.00 price objective (down from $155.00) on shares of GeneDx in a research note on Tuesday, May 5th. Canaccord Genuity Group set a $75.00 price objective on GeneDx and gave the company a “buy” rating in a research note on Tuesday, May 5th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $130.00 price objective (down from $160.00) on shares of GeneDx in a research note on Tuesday, February 24th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $96.43.

About GeneDx

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.