Brokerages Set GeneDx Holdings Corp. (NASDAQ:WGS) Price Target at $59.33

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) have received an average rating of “Moderate Buy” from the six research firms that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $59.33.

A number of research firms have recently weighed in on WGS. The Goldman Sachs Group increased their price objective on shares of GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their price objective on GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Craig Hallum upped their target price on GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th.

Insider Transactions at GeneDx

In other GeneDx news, Director Jason Ryan sold 31,510 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $71.28, for a total transaction of $2,246,032.80. Following the transaction, the director now directly owns 15,490 shares of the company’s stock, valued at $1,104,127.20. This trade represents a 67.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kevin Feeley sold 3,728 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $76.75, for a total transaction of $286,124.00. Following the sale, the chief financial officer now directly owns 28,200 shares of the company’s stock, valued at $2,164,350. This represents a 11.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,123,603 shares of company stock valued at $83,300,382 in the last ninety days. 27.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On GeneDx

Several institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in GeneDx by 617.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 52,161 shares of the company’s stock valued at $2,214,000 after purchasing an additional 44,889 shares in the last quarter. Principal Financial Group Inc. purchased a new position in shares of GeneDx in the third quarter worth about $604,000. Franklin Resources Inc. acquired a new position in GeneDx during the third quarter worth about $301,000. Tidal Investments LLC purchased a new stake in GeneDx during the 3rd quarter valued at about $514,000. Finally, Barclays PLC raised its holdings in GeneDx by 346.3% in the 3rd quarter. Barclays PLC now owns 18,921 shares of the company’s stock valued at $803,000 after acquiring an additional 14,681 shares during the last quarter. 61.72% of the stock is currently owned by institutional investors and hedge funds.

GeneDx Stock Performance

Shares of WGS stock opened at $79.14 on Monday. The business has a fifty day moving average of $76.28 and a 200 day moving average of $50.89. GeneDx has a 1 year low of $2.63 and a 1 year high of $89.11. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of -25.45 and a beta of 2.03.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.25. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. The firm had revenue of $76.90 million during the quarter, compared to analysts’ expectations of $64.98 million. During the same period last year, the business posted ($0.82) earnings per share. The company’s revenue for the quarter was up 44.3% compared to the same quarter last year. As a group, research analysts expect that GeneDx will post -0.24 earnings per share for the current year.

GeneDx Company Profile

GeneDx Holdings Corp., through its subsidiaries, provides genomics-related diagnostic and information services. The company offers Centrellis, an AI-driven health intelligence platform that integrates digital tools and artificial intelligence allowing scientists to ingest and synthesize clinical and genomic data to deliver comprehensive health insights.