GeneDx (NASDAQ:WGS) Director Buys $19,645,000.00 in Stock

GeneDx Holdings Corp. (NASDAQ:WGS) Director Keith Meister purchased 500,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average cost of $39.29 per share, for a total transaction of $19,645,000.00. Following the transaction, the director owned 4,433,297 shares in the company, valued at $174,184,239.13. This represents a 12.71% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

GeneDx Stock Down 2.8%

GeneDx stock traded down $1.16 during midday trading on Monday, hitting $39.61. 1,816,661 shares of the stock were exchanged, compared to its average volume of 1,665,234. GeneDx Holdings Corp. has a 52-week low of $32.21 and a 52-week high of $170.87. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -14.78 and a beta of 2.06. The business’s 50-day moving average price is $67.05 and its 200-day moving average price is $104.25. 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 quarterly earnings data on Monday, May 4th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.22). The company had revenue of $102.25 million during 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 prior year, the firm posted ($0.23) EPS. On average, research analysts expect that GeneDx Holdings Corp. will post 0.75 EPS for the current fiscal year.

Hedge Funds Weigh In On GeneDx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC purchased a new position in GeneDx during the fourth quarter worth about $27,000. Jones Financial Companies Lllp increased its position 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. Ramirez Asset Management Inc. bought a new position in shares of GeneDx in the fourth quarter worth approximately $33,000. Greenline Wealth Management LLC bought a new position in shares of GeneDx in the fourth quarter worth approximately $33,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in GeneDx in the 4th quarter worth approximately $35,000. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of GeneDx in a research report on Wednesday, January 21st. Zacks Research lowered shares of GeneDx from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. Wall Street Zen lowered shares of GeneDx from a “hold” rating to a “sell” rating in a report on Saturday. 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 research note on Tuesday, May 5th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $75.00 price target (down from $155.00) on shares of GeneDx in a report on Tuesday, May 5th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.