Zacks Research Upgrades GeneDx (NASDAQ:WGS) to “Strong-Buy”

GeneDx (NASDAQ:WGS) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

Several other research firms also recently weighed in on WGS. BTIG Research decreased their target price on GeneDx from $200.00 to $170.00 and set a “buy” rating on the stock in a research report on Tuesday. Canaccord Genuity Group raised their price objective on GeneDx from $160.00 to $170.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Jefferies Financial Group set a $150.00 target price on shares of GeneDx in a research note on Monday. Wall Street Zen lowered shares of GeneDx from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of GeneDx in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, GeneDx currently has an average rating of “Moderate Buy” and a consensus price target of $150.71.

GeneDx Trading Up 3.1%

Shares of GeneDx stock opened at $81.38 on Wednesday. GeneDx has a fifty-two week low of $55.17 and a fifty-two week high of $170.87. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.59 and a current ratio of 2.46. The company has a market cap of $2.35 billion, a P/E ratio of -108.51 and a beta of 2.00. The firm has a 50-day simple moving average of $107.66 and a two-hundred day simple moving average of $123.86.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings data on Monday, February 23rd. The company reported $0.14 earnings per share (EPS) 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 business had revenue of $120.99 million for the quarter, compared to the consensus estimate of $120.80 million. As a group, equities analysts predict that GeneDx will post 0.97 earnings per share for the current fiscal year.

Insider Activity at GeneDx

In other news, CFO Kevin Feeley sold 3,855 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $143.87, for a total value of $554,618.85. Following the sale, the chief financial officer directly owned 8,731 shares of the company’s stock, valued at approximately $1,256,128.97. The trade was a 30.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Katherine Stueland sold 10,857 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $143.89, for a total value of $1,562,213.73. Following the transaction, the chief executive officer owned 14,237 shares in the company, valued at $2,048,561.93. This trade represents a 43.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 30,961 shares of company stock worth $3,933,831. Insiders own 29.60% of the company’s stock.

Institutional Investors Weigh In On GeneDx

A number of hedge funds and other institutional investors have recently modified their holdings of WGS. Rhumbline Advisers boosted its stake in shares of GeneDx by 42.7% during the second quarter. Rhumbline Advisers now owns 27,610 shares of the company’s stock worth $2,549,000 after buying an additional 8,258 shares during the period. Principal Financial Group Inc. raised 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 acquiring an additional 46,085 shares during the last quarter. Impax Asset Management Group plc acquired a new position in shares of GeneDx in the third quarter valued at approximately $5,387,000. Legal & General Group Plc lifted its holdings in shares of GeneDx by 55.9% during the second quarter. Legal & General Group Plc now owns 22,271 shares of the company’s stock worth $2,056,000 after purchasing an additional 7,987 shares during the period. Finally, Telemark Asset Management LLC acquired a new stake in shares of GeneDx in the 3rd quarter worth $12,929,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

GeneDx Company Profile

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.