Analysts Set GeneDx Holdings Corp. (NASDAQ:WGS) PT at $89.57

GeneDx Holdings Corp. (NASDAQ:WGS) has been given an average rating of “Moderate Buy” by the nine analysts that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $89.5714.

Several research analysts have weighed in on the stock. Wall Street Zen upgraded shares of GeneDx from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Canaccord Genuity Group boosted their price objective on shares of GeneDx from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. BTIG Research restated a “buy” rating and issued a $90.00 price objective on shares of GeneDx in a research note on Tuesday, August 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $63.00 target price (up from $50.00) on shares of GeneDx in a report on Tuesday, June 23rd. Finally, Guggenheim reaffirmed a “buy” rating and issued a $74.00 target price (up from $70.00) on shares of GeneDx in a report on Monday, June 29th.

Insiders Place Their Bets

In other news, CFO Kevin Feeley sold 3,729 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $60.77, for a total value of $226,611.33. Following the transaction, the chief financial officer owned 39,954 shares of the company’s stock, valued at $2,428,004.58. This trade represents a 8.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Casdin Capital, Llc acquired 50,000 shares of the stock in a transaction dated Friday, June 5th. The shares were bought at an average cost of $52.86 per share, for a total transaction of $2,643,000.00. Following the completion of the transaction, the director owned 3,707,164 shares in the company, valued at approximately $195,960,689.04. This represents a 1.37% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 19,135 shares of company stock worth $1,128,499 over the last quarter. 25.17% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GeneDx

Large investors have recently added to or reduced their stakes in the company. Arizona State Retirement System grew its holdings in GeneDx by 2.1% during the 4th quarter. Arizona State Retirement System now owns 5,594 shares of the company’s stock valued at $728,000 after buying an additional 113 shares in the last quarter. Cerity Partners LLC increased its stake in GeneDx by 6.0% in the 4th quarter. Cerity Partners LLC now owns 2,527 shares of the company’s stock worth $329,000 after acquiring an additional 142 shares during the last quarter. Main Management ETF Advisors LLC raised its holdings in shares of GeneDx by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 15,660 shares of the company’s stock worth $2,037,000 after acquiring an additional 160 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of GeneDx by 5.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,702 shares of the company’s stock worth $399,000 after acquiring an additional 181 shares in the last quarter. Finally, Strs Ohio boosted its position in shares of GeneDx by 8.7% during the 1st quarter. Strs Ohio now owns 2,500 shares of the company’s stock valued at $161,000 after acquiring an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 61.72% of the company’s stock.

GeneDx Trading Up 3.3%

Shares of NASDAQ:WGS opened at $90.29 on Friday. The stock’s 50-day simple moving average is $69.57 and its two-hundred day simple moving average is $66.94. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of -24.80 and a beta of 1.92. GeneDx has a 52-week low of $32.21 and a 52-week high of $170.87. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.06 and a current ratio of 3.30.

GeneDx (NASDAQ:WGS) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.19) by $0.20. GeneDx had a negative net margin of 23.41% and a positive return on equity of 4.12%. The firm had revenue of $114.44 million during the quarter, compared to analyst estimates of $111.01 million. During the same quarter in the prior year, the firm earned $0.36 EPS. Analysts expect that GeneDx will post -0.41 EPS for the current year.

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.