Brokerages Set GeneDx Holdings Corp. (NASDAQ:WGS) Price Target at $150.71

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) have received an average recommendation of “Moderate Buy” from the nine analysts that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $150.7143.

Several brokerages recently issued reports on WGS. Zacks Research upgraded GeneDx from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 25th. BTIG Research reduced their price objective on GeneDx from $200.00 to $170.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Jefferies Financial Group set a $150.00 target price on GeneDx in a research report on Monday, February 23rd. Wells Fargo & Company upgraded 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. Finally, Wall Street Zen lowered GeneDx from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th.

GeneDx Trading Down 6.9%

NASDAQ WGS opened at $57.09 on Wednesday. The company has a market cap of $1.67 billion, a P/E ratio of -76.12 and a beta of 2.03. GeneDx has a 12 month low of $55.17 and a 12 month high of $170.87. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.46 and a quick ratio of 2.34. The company has a 50-day moving average of $85.54 and a 200-day moving average of $116.68.

GeneDx (NASDAQ:WGS) last issued its earnings results on Monday, February 23rd. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. GeneDx had a positive return on equity of 14.73% and a negative net margin of 4.92%.The firm had revenue of $120.99 million for the quarter, compared to analysts’ expectations of $120.80 million. As a group, equities analysts predict that GeneDx will post 0.97 earnings per share for the current year.

Insider Activity

In other news, COO Bryan Dechairo sold 5,961 shares of GeneDx stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $85.70, for a total transaction of $510,857.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Keith A. Meister bought 140,026 shares of the firm’s stock in a transaction dated 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 directly owned 3,228,150 shares of the company’s stock, valued at approximately $262,093,498.50. This trade represents a 4.53% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have sold 65,875 shares of company stock worth $5,280,990. Company insiders own 29.60% of the company’s stock.

Hedge Funds Weigh In On GeneDx

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ARK Investment Management LLC acquired a new position in shares of GeneDx in the third quarter worth about $48,157,000. Rhumbline Advisers grew its stake in GeneDx by 42.7% during the 2nd quarter. Rhumbline Advisers now owns 27,610 shares of the company’s stock valued at $2,549,000 after purchasing an additional 8,258 shares in the last quarter. Principal Financial Group Inc. grew its stake in GeneDx by 340.4% during the 3rd quarter. Principal Financial Group Inc. now owns 59,624 shares of the company’s stock valued at $6,424,000 after purchasing an additional 46,085 shares in the last quarter. Impax Asset Management Group plc purchased a new stake in GeneDx during the 3rd quarter worth approximately $5,387,000. Finally, Telemark Asset Management LLC acquired a new position in shares of GeneDx in the 3rd quarter valued at approximately $12,929,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

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.