Insider Buying: GeneDx (NASDAQ:WGS) Director Buys 29,495 Shares of Stock

GeneDx Holdings Corp. (NASDAQ:WGS) Director Keith Meister acquired 29,495 shares of GeneDx stock in a transaction that occurred on Tuesday, March 3rd. The shares were purchased at an average cost of $70.89 per share, with a total value of $2,090,900.55. Following the transaction, the director owned 3,088,124 shares of the company’s stock, valued at approximately $218,917,110.36. The trade was a 0.96% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

GeneDx Stock Up 3.2%

Shares of WGS traded up $2.53 during midday trading on Thursday, reaching $82.00. 921,499 shares of the stock were exchanged, compared to its average volume of 755,205. The company has a market cap of $2.40 billion, a price-to-earnings ratio of -109.33 and a beta of 2.03. The company has a quick ratio of 2.34, a current ratio of 2.46 and a debt-to-equity ratio of 0.16. GeneDx Holdings Corp. has a 12-month low of $55.17 and a 12-month high of $170.87. The firm has a 50 day simple moving average of $101.71 and a 200-day simple moving average of $122.42.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings data on Monday, February 23rd. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.03. GeneDx had a negative net margin of 4.92% and a positive return on equity of 14.73%. The firm had revenue of $120.99 million for the quarter, compared to analyst estimates of $120.80 million. Research analysts forecast that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Institutional Trading of GeneDx

Several institutional investors and hedge funds have recently added to or reduced their stakes in WGS. Kestra Advisory Services LLC bought a new position in shares of GeneDx during the fourth quarter worth approximately $27,000. Jones Financial Companies Lllp raised its holdings in GeneDx by 664.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock valued at $25,000 after acquiring an additional 186 shares in the last quarter. Ramirez Asset Management Inc. bought a new stake in shares of GeneDx during the 4th quarter valued at $33,000. Greenline Wealth Management LLC acquired a new stake in shares of GeneDx during the 4th quarter worth $33,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of GeneDx in the fourth quarter worth $35,000. 61.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

WGS has been the subject of several recent research reports. Wells Fargo & Company raised shares of GeneDx from an “equal weight” rating to an “overweight” rating and set a $155.00 price target for the company in a research report on Monday, February 9th. Weiss Ratings reiterated a “sell (d)” rating on shares of GeneDx in a research note on Wednesday, January 21st. BTIG Research cut their target price on GeneDx from $200.00 to $170.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. Zacks Research raised shares of GeneDx from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 25th. Finally, Canaccord Genuity Group raised their price target on GeneDx from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, GeneDx has a consensus rating of “Moderate Buy” and a consensus target price of $150.71.

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.