GeneDx (NASDAQ:WGS) Director Acquires $6,449,850.00 in Stock

GeneDx Holdings Corp. (NASDAQ:WGS) Director Keith Meister acquired 165,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was purchased at an average price of $39.09 per share, for a total transaction of $6,449,850.00. Following the acquisition, the director directly owned 4,598,297 shares in the company, valued at $179,747,429.73. This represents a 3.72% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

GeneDx Stock Up 4.9%

WGS stock traded up $1.90 during trading on Friday, reaching $40.75. The stock had a trading volume of 1,621,837 shares, compared to its average volume of 1,854,039. GeneDx Holdings Corp. has a 1-year low of $32.21 and a 1-year high of $170.87. The company has a current ratio of 3.09, a quick ratio of 2.95 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $1.21 billion, a P/E ratio of -15.21 and a beta of 2.06. The firm has a fifty day moving average price of $64.01 and a 200 day moving average price of $102.00.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings data on Monday, May 4th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.22). GeneDx had a positive return on equity of 9.15% and a negative net margin of 17.58%.The firm had revenue of $102.25 million during the quarter, compared to analyst estimates of $112.46 million. During the same quarter in the prior year, the firm earned ($0.23) EPS. On average, equities analysts anticipate that GeneDx Holdings Corp. will post -1 earnings per share for the current year.

Institutional Investors Weigh In On GeneDx

A number of institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its position in shares of GeneDx by 4.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,220,502 shares of the company’s stock valued at $158,738,000 after buying an additional 52,322 shares during the last quarter. Vanguard Group Inc. grew its position in shares of GeneDx by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 1,189,069 shares of the company’s stock valued at $154,650,000 after buying an additional 18,647 shares during the last quarter. Franklin Resources Inc. grew its position in shares of GeneDx by 60.4% during the 4th quarter. Franklin Resources Inc. now owns 1,092,988 shares of the company’s stock valued at $142,154,000 after buying an additional 411,607 shares during the last quarter. Westfield Capital Management Co. LP grew its position in shares of GeneDx by 87.1% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,018,261 shares of the company’s stock valued at $132,435,000 after buying an additional 474,167 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of GeneDx by 59.2% during the 4th quarter. Invesco Ltd. now owns 786,466 shares of the company’s stock valued at $102,288,000 after buying an additional 292,394 shares during the last quarter. Institutional investors own 61.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WGS. Weiss Ratings reiterated a “sell (d)” rating on shares of GeneDx in a report on Wednesday, January 21st. Piper Sandler reiterated an “overweight” rating and issued a $130.00 price objective (down from $160.00) on shares of GeneDx in a report on Tuesday, February 24th. Jefferies Financial Group set a $150.00 price objective on shares of GeneDx in a report on Monday, February 23rd. Zacks Research lowered shares of GeneDx from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $75.00 target price (down from $155.00) on shares of GeneDx in a research note on Tuesday, May 5th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.43.

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.