Keith Meister Purchases 171,389 Shares of GeneDx (NASDAQ:WGS) Stock

GeneDx Holdings Corp. (NASDAQ:WGS) Director Keith Meister bought 171,389 shares of GeneDx stock in a transaction that occurred on Friday, May 8th. The stock was purchased at an average cost of $40.59 per share, with a total value of $6,956,679.51. Following the completion of the acquisition, the director directly owned 3,933,297 shares in the company, valued at $159,652,525.23. This represents a 4.56% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

GeneDx Trading Down 0.3%

Shares of GeneDx stock opened at $39.49 on Wednesday. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -14.74 and a beta of 2.06. The business has a 50-day moving average price of $66.25 and a 200-day moving average price of $103.67. 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 Holdings Corp. has a twelve month low of $32.21 and a twelve month high of $170.87.

GeneDx (NASDAQ:WGS) last released its quarterly 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). The company had revenue of $102.25 million during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the business posted ($0.23) EPS. Equities research analysts anticipate that GeneDx Holdings Corp. will post -1 EPS for the current fiscal year.

GeneDx News Roundup

Here are the key news stories impacting GeneDx this week:

• Positive Sentiment: Director Keith Meister made several large open-market purchases of GeneDx shares, including buys of 171,389, 533,758, and 500,000 shares, signaling insider confidence in the company’s long-term outlook. Article Title
• Neutral Sentiment: Several institutional and analyst updates continue to show mixed but still active interest in WGS, with some firms maintaining buy/overweight ratings despite recent price-target cuts. Article Title
• Negative Sentiment: Pomerantz LLP announced an investigation into GeneDx on behalf of investors, adding to concerns about potential claims tied to the stock’s recent losses. Article Title
• Negative Sentiment: Barrack, Rodos & Bacine also opened a securities-fraud investigation into GeneDx, reinforcing the market’s fear that legal overhang could weigh on shares. Article Title
• Negative Sentiment: The company’s last earnings release disappointed investors, with EPS and revenue both missing expectations, which likely continues to pressure sentiment around WGS. Article Title

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $130.00 price objective (down from $160.00) on shares of GeneDx in a research note on Tuesday, February 24th. BTIG Research decreased their price objective on shares of GeneDx from $170.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, May 5th. Craig Hallum restated a “buy” rating and issued a $85.00 target price on shares of GeneDx in a research note on Tuesday, May 5th. Wall Street Zen lowered GeneDx from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Zacks Research lowered GeneDx from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.43.

Hedge Funds Weigh In On GeneDx

A number of institutional investors have recently modified their holdings of WGS. Jones Financial Companies Lllp raised its stake in shares of GeneDx by 664.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock valued at $25,000 after buying an additional 186 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of GeneDx during the 4th quarter valued at about $27,000. Fifth Third Bancorp purchased a new position in shares of GeneDx during the 1st quarter valued at about $31,000. Quarry LP increased its holdings in shares of GeneDx by 248.8% during the 3rd quarter. Quarry LP now owns 293 shares of the company’s stock valued at $32,000 after purchasing an additional 209 shares in the last quarter. Finally, Ramirez Asset Management Inc. purchased a new position in shares of GeneDx during the 4th quarter valued at approximately $33,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

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.