Brokerages Set GeneDx Holdings Corp. (NASDAQ:WGS) Target Price at $150.71

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) have been assigned a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $150.7143.

WGS has been the topic of several recent analyst reports. Wall Street Zen downgraded GeneDx from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Canaccord Genuity Group lifted their price objective on shares of GeneDx from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, December 22nd. Piper Sandler reissued an “overweight” rating and issued a $130.00 target price (down from $160.00) on shares of GeneDx in a report on Tuesday, February 24th. Zacks Research raised shares of GeneDx from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 25th. Finally, Jefferies Financial Group set a $150.00 price target on shares of GeneDx in a report on Monday, February 23rd.

GeneDx Stock Down 6.9%

Shares of WGS stock opened at $74.20 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.46 and a quick ratio of 2.34. GeneDx has a one year low of $55.17 and a one year high of $170.87. The company’s fifty day moving average price is $105.13 and its 200-day moving average price is $123.36. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of -98.93 and a beta of 2.03.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings results on Monday, February 23rd. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. The business had revenue of $120.99 million during the quarter, compared to analyst estimates of $120.80 million. GeneDx had a positive return on equity of 14.73% and a negative net margin of 4.92%. Sell-side analysts expect that GeneDx will post 0.97 EPS for the current fiscal year.

Insider Transactions at GeneDx

In related news, COO Bryan Dechairo sold 5,961 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $85.70, for a total value of $510,857.70. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Katherine Stueland sold 1,653 shares of the stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $94.00, for a total value of $155,382.00. Following the transaction, the chief executive officer directly owned 16,458 shares of the company’s stock, valued at approximately $1,547,052. The trade was a 9.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 30,961 shares of company stock valued at $3,933,831. 29.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GeneDx

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC purchased a new position in shares of GeneDx in the 4th quarter worth approximately $27,000. Jones Financial Companies Lllp lifted its position in GeneDx by 664.3% in the third quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock worth $25,000 after buying an additional 186 shares during the last quarter. Ramirez Asset Management Inc. purchased a new position in GeneDx during the fourth quarter worth $33,000. Greenline Wealth Management LLC bought a new position in GeneDx during the fourth quarter valued at $33,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in GeneDx during the fourth quarter valued at $35,000. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

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.