Keith Meister Purchases 140,000 Shares of GeneDx (NASDAQ:WGS) Stock

GeneDx Holdings Corp. (NASDAQ:WGS) Director Keith Meister bought 140,000 shares of the stock in a transaction dated Thursday, May 14th. The shares were purchased at an average price of $39.39 per share, for a total transaction of $5,514,600.00. Following the purchase, the director owned 4,738,297 shares of the company’s stock, valued at $186,641,518.83. This trade represents a 3.04% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

GeneDx Stock Performance

WGS traded up $1.90 during trading on Friday, hitting $40.75. The stock had a trading volume of 1,621,837 shares, compared to its average volume of 997,857. The company has a 50 day moving average price of $64.78 and a 200-day moving average price of $102.43. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -15.21 and a beta of 2.06. GeneDx Holdings Corp. has a one year low of $32.21 and a one year high of $170.87. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.09 and a quick ratio of 2.95.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings data on Monday, May 4th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.22). The firm 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 business earned ($0.23) EPS. As a group, research analysts predict that GeneDx Holdings Corp. will post -1 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WGS. Royal Bank of Canada raised its position in GeneDx by 30.2% during the first quarter. Royal Bank of Canada now owns 29,479 shares of the company’s stock valued at $2,611,000 after purchasing an additional 6,840 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in GeneDx by 6.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,641 shares of the company’s stock valued at $677,000 after purchasing an additional 453 shares in the last quarter. NewEdge Advisors LLC raised its position in GeneDx by 270,700.0% during the first quarter. NewEdge Advisors LLC now owns 2,708 shares of the company’s stock valued at $240,000 after purchasing an additional 2,707 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in GeneDx by 67.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 28,224 shares of the company’s stock valued at $2,500,000 after purchasing an additional 11,375 shares in the last quarter. Finally, Cetera Investment Advisers acquired a new position in GeneDx during the second quarter valued at approximately $249,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WGS has been the subject of several analyst reports. Piper Sandler reiterated 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. Weiss Ratings restated a “sell (d)” rating on shares of GeneDx in a research report on Wednesday, January 21st. Craig Hallum reiterated a “buy” rating and issued a $85.00 price target on shares of GeneDx in a research report on Tuesday, May 5th. Canaccord Genuity Group set a $75.00 price target on GeneDx and gave the company a “buy” rating in a research note on Tuesday, May 5th. Finally, Wall Street Zen downgraded GeneDx from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, GeneDx has a consensus rating of “Moderate Buy” and an average 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.