GeneDx (NASDAQ:WGS) Director Purchases $6,956,679.51 in Stock

GeneDx Holdings Corp. (NASDAQ:WGS) Director Keith Meister acquired 171,389 shares of GeneDx stock in a transaction 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 transaction, 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 document filed with the SEC, which can be accessed through this hyperlink.

GeneDx Stock Performance

Shares of GeneDx stock opened at $38.94 on Thursday. GeneDx Holdings Corp. has a 12 month low of $32.21 and a 12 month high of $170.87. The firm has a market capitalization of $1.16 billion, a P/E ratio of -14.53 and a beta of 2.06. The business’s fifty day simple moving average is $65.54 and its 200 day simple moving average is $103.07. The company has a current ratio of 3.09, a quick ratio of 2.95 and a debt-to-equity ratio of 0.38.

GeneDx (NASDAQ:WGS) last released its earnings results on Monday, May 4th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.22). The business had revenue of $102.25 million for 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 quarter in the previous year, the firm earned ($0.23) earnings per share. As a group, analysts anticipate that GeneDx Holdings Corp. will post -1 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on WGS. Jefferies Financial Group set a $150.00 price target on shares of GeneDx in a research note on Monday, February 23rd. Piper Sandler reiterated an “overweight” rating and issued a $130.00 price objective (down from $160.00) on shares of GeneDx in a research report on Tuesday, February 24th. Zacks Research downgraded GeneDx from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. Wells Fargo & Company reiterated an “overweight” rating and issued a $75.00 price objective (down from $155.00) on shares of GeneDx in a research report on Tuesday, May 5th. Finally, Craig Hallum reiterated a “buy” rating and issued a $85.00 price objective on shares of GeneDx in a research 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $96.43.

Institutional Investors Weigh In On GeneDx

A number of large investors have recently added to or reduced their stakes in WGS. ARK Investment Management LLC purchased a new position in shares of GeneDx in the third quarter worth $48,157,000. Principal Financial Group Inc. boosted its position 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 buying an additional 46,085 shares during the period. Telemark Asset Management LLC purchased a new stake in GeneDx during the 3rd quarter valued at $12,929,000. Sumitomo Mitsui Trust Group Inc. boosted its position in GeneDx by 30.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 381,725 shares of the company’s stock valued at $49,647,000 after buying an additional 89,470 shares during the period. Finally, Impax Asset Management Group plc purchased a new stake in GeneDx during the 3rd quarter valued at $5,387,000. 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.