GeneDx (NASDAQ:WGS) Director Keith Meister Purchases 46,273 Shares

GeneDx Holdings Corp. (NASDAQ:WGS) Director Keith Meister purchased 46,273 shares of the stock in a transaction on Friday, May 15th. The stock was bought at an average cost of $38.91 per share, for a total transaction of $1,800,482.43. Following the completion of the acquisition, the director owned 4,784,570 shares in the company, valued at approximately $186,167,618.70. This trade represents a 0.98% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

GeneDx Stock Up 4.9%

GeneDx stock opened at $40.75 on Friday. GeneDx Holdings Corp. has a twelve month low of $32.21 and a twelve month high of $170.87. The company’s 50-day moving average price is $64.01 and its two-hundred day moving average price is $102.00. The stock has a market cap of $1.21 billion, a P/E ratio of -15.21 and a beta of 2.06. The company has a quick ratio of 2.95, a current ratio of 3.09 and a debt-to-equity ratio of 0.38.

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

Institutional Trading of GeneDx

Several large investors have recently made changes to their positions in the company. First Light Asset Management LLC acquired a new stake in GeneDx in the first quarter valued at approximately $15,601,000. Lazard Asset Management LLC acquired a new stake in GeneDx in the first quarter valued at approximately $2,177,000. Granahan Investment Management LLC boosted its position in GeneDx by 212.5% in the first quarter. Granahan Investment Management LLC now owns 96,605 shares of the company’s stock valued at $6,204,000 after buying an additional 65,695 shares in the last quarter. Renaissance Technologies LLC boosted its position in GeneDx by 168.2% in the first quarter. Renaissance Technologies LLC now owns 153,716 shares of the company’s stock valued at $9,872,000 after buying an additional 96,400 shares in the last quarter. Finally, Keebeck Wealth Management boosted its position in GeneDx by 13.5% in the first quarter. Keebeck Wealth Management now owns 4,310 shares of the company’s stock valued at $277,000 after buying an additional 513 shares in the last quarter. Institutional investors and hedge funds own 61.72% of the company’s stock.

Key Stories Impacting GeneDx

Here are the key news stories impacting GeneDx this week:

• Positive Sentiment: Director Keith A. Meister kept buying shares, including 165,000 shares on May 13, 140,000 shares on May 14, and 46,273 shares on May 15, signaling strong insider confidence in GeneDx’s outlook and helping support the stock. Insider trade filing
• Neutral Sentiment: GeneDx received an average brokerage recommendation of “Moderate Buy,” suggesting Wall Street still sees upside despite the recent volatility. Brokerage recommendation article
• Negative Sentiment: A legal update from Pomerantz LLP said it is investigating claims on behalf of GeneDx investors, adding overhang from possible shareholder litigation after the company’s recent results. Pomerantz investigation article
• Negative Sentiment: Another law firm, Levi & Korsinsky, announced a securities investigation tied to GeneDx’s Q1 revenue miss and reduced full-year guidance, reinforcing concerns that the post-earnings selloff may not be over. Levi & Korsinsky investigation article
• Negative Sentiment: An analyst note cut GeneDx’s price target sharply to $98.94, highlighting a more cautious view after the company’s disappointing quarter. Price target cut article

Wall Street Analyst Weigh In

Several brokerages have recently commented on WGS. Wall Street Zen cut shares of GeneDx from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Guggenheim lowered their target price on shares of GeneDx from $100.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Jefferies Financial Group set a $150.00 target price on shares of GeneDx in a report on Monday, February 23rd. Wells Fargo & Company reaffirmed an “overweight” rating and set a $75.00 target price (down from $155.00) on shares of GeneDx in a report on Tuesday, May 5th. Finally, BTIG Research lowered their target price on shares of GeneDx from $170.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Six equities research 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $96.43.

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.