GeneDx (NASDAQ:WGS) Director Buys $19,645,000.00 in Stock

GeneDx Holdings Corp. (NASDAQ:WGS) Director Keith Meister purchased 500,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were acquired at an average cost of $39.29 per share, for a total transaction of $19,645,000.00. Following the acquisition, the director owned 4,433,297 shares of the company’s stock, valued at approximately $174,184,239.13. The trade was a 12.71% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

GeneDx Stock Performance

Shares of WGS 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 company has a debt-to-equity ratio of 0.38, a current ratio of 3.09 and a quick ratio of 2.95. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -14.53 and a beta of 2.06. The business has a 50 day simple moving average of $65.54 and a 200 day simple moving average of $103.07.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings results on Monday, May 4th. The company reported ($0.28) earnings per share (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 business had revenue of $102.25 million for the quarter, compared to analyst estimates of $112.46 million. During the same quarter last year, the firm posted ($0.23) EPS. On average, equities research analysts anticipate that GeneDx Holdings Corp. will post -1 EPS for the current year.

Wall Street Analyst Weigh In

WGS has been the subject of a number of recent analyst reports. Wall Street Zen lowered shares of GeneDx from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Zacks Research lowered shares of GeneDx from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. Weiss Ratings reiterated a “sell (d)” rating on shares of GeneDx in a research note on Wednesday, January 21st. BTIG Research cut their target price on GeneDx from $170.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, May 5th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $85.00 price target on shares of GeneDx in a research note on Tuesday, May 5th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $96.43.

Hedge Funds Weigh In On GeneDx

Several hedge funds have recently made changes to their positions in WGS. Goldman Sachs Group Inc. lifted its stake in GeneDx by 4.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,220,502 shares of the company’s stock valued at $158,738,000 after purchasing an additional 52,322 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of GeneDx by 1.6% in the fourth 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 in the last quarter. Franklin Resources Inc. lifted 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 acquiring an additional 411,607 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake 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 worth $132,435,000 after acquiring an additional 474,167 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of GeneDx by 59.2% in the 4th quarter. Invesco Ltd. now owns 786,466 shares of the company’s stock worth $102,288,000 after acquiring an additional 292,394 shares during the last quarter. Institutional investors and hedge funds own 61.72% of the company’s stock.

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.