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

GeneDx Holdings Corp. (NASDAQ:WGS) has been assigned an average rating of “Moderate Buy” from the six analysts that are covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $59.33.

A number of research analysts recently issued reports on the company. TD Cowen raised their price target on GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Craig Hallum raised their target price on shares of GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company upped their price target on shares of GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group increased their price target 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. Finally, BTIG Research lifted their price objective on shares of GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st.

Insider Activity at GeneDx

In other GeneDx news, major shareholder Opko Health, Inc. sold 50,000 shares of GeneDx stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $34.49, for a total value of $1,724,500.00. Following the sale, the insider now owns 2,646,972 shares of the company’s stock, valued at approximately $91,294,064.28. The trade was a 1.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $75.00, for a total value of $64,935,000.00. Following the transaction, the insider now directly owns 2,866,833 shares of the company’s stock, valued at approximately $215,012,475. This trade represents a 23.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 923,024 shares of company stock worth $66,980,631 in the last three months. Insiders own 27.30% of the company’s stock.

Hedge Funds Weigh In On GeneDx

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC acquired a new stake in shares of GeneDx in the second quarter valued at about $34,000. nVerses Capital LLC purchased a new position in GeneDx in the second quarter valued at about $50,000. CWM LLC acquired a new stake in shares of GeneDx during the 3rd quarter valued at approximately $89,000. SG Americas Securities LLC purchased a new stake in shares of GeneDx during the 3rd quarter worth approximately $198,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of GeneDx in the 3rd quarter worth approximately $220,000. 61.72% of the stock is owned by institutional investors and hedge funds.

GeneDx Stock Down 7.2 %

Shares of NASDAQ:WGS opened at $68.43 on Friday. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. The firm has a 50 day simple moving average of $55.94 and a 200-day simple moving average of $37.85. The company has a market capitalization of $1.88 billion, a PE ratio of -22.00 and a beta of 2.11. GeneDx has a twelve month low of $1.16 and a twelve month high of $89.11.

GeneDx (NASDAQ:WGS) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.25. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The company had revenue of $76.90 million during the quarter, compared to the consensus estimate of $64.98 million. During the same quarter in the prior year, the firm posted ($0.82) earnings per share. GeneDx’s revenue for the quarter was up 44.3% on a year-over-year basis. On average, equities analysts predict that GeneDx will post -0.24 EPS for the current fiscal year.

About GeneDx

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.