GeneDx Holdings Corp. (NASDAQ:WGS) Stock Has Consensus Target Price of $90.86

by · The Markets Daily

GeneDx Holdings Corp. (NASDAQ:WGS – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the nine brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $90.86.

A number of research firms have commented on WGS. Guggenheim raised their price objective on GeneDx from $74.00 to $83.00 and gave the stock a “buy” rating in a research note on Thursday, October 1st. Zacks Research lowered GeneDx from a “strong-buy” rating to a “hold” rating in a report on Friday, October 9th. BTIG Research restated a “buy” rating and issued a $90.00 price target on shares of GeneDx in a research report on Tuesday, August 4th. Wall Street Zen raised GeneDx from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, TD Cowen reaffirmed a “buy” rating on shares of GeneDx in a research report on Wednesday, July 15th.

Read Our Latest Report on WGS

Insider Activity at GeneDx

In related news, CEO Katherine Stueland sold 10,501 shares of GeneDx stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $97.61, for a total value of $1,025,002.61. Following the transaction, the chief executive officer directly owned 115,476 shares of the company’s stock, valued at $11,271,612.36. This trade represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevin Feeley sold 3,728 shares of the company’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $97.61, for a total value of $363,890.08. Following the sale, the chief financial officer owned 44,945 shares of the company’s stock, valued at $4,387,081.45. The trade was a 7.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 19,206 shares of company stock worth $1,808,056 in the last quarter. 25.17% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. William Blair Investment Management LLC boosted its stake in shares of GeneDx by 11.4% in the 3rd quarter. William Blair Investment Management LLC now owns 1,560,247 shares of the company’s stock valued at $112,806,000 after purchasing an additional 159,594 shares in the last quarter. First Light Asset Management LLC lifted its stake in GeneDx by 222.7% in the 2nd quarter. First Light Asset Management LLC now owns 783,923 shares of the company’s stock valued at $53,816,000 after purchasing an additional 540,996 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of GeneDx by 108.4% during the third quarter. Assenagon Asset Management S.A. now owns 632,413 shares of the company’s stock worth $45,723,000 after buying an additional 328,980 shares during the last quarter. Amova Asset Management Americas Inc. increased its holdings in shares of GeneDx by 67.3% during the first quarter. Amova Asset Management Americas Inc. now owns 638,800 shares of the company’s stock worth $41,024,000 after buying an additional 257,075 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of GeneDx by 65.9% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 633,457 shares of the company’s stock worth $40,681,000 after buying an additional 251,732 shares in the last quarter. Institutional investors own 61.72% of the company’s stock.

GeneDx Price Performance

NASDAQ:WGS opened at $62.37 on Thursday. GeneDx has a 52 week low of $32.21 and a 52 week high of $170.87. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.06 and a current ratio of 3.30. The firm’s 50-day simple moving average is $76.83 and its 200 day simple moving average is $71.32. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of -17.13 and a beta of 2.00.

About GeneDx

(Get Free Report)

GeneDx Holdings Corp., doing business as GeneDx, is a genomic diagnostics company that provides genetic testing and interpretation services for patients with suspected rare and inherited conditions. The company combines sequencing technologies with clinical expertise and data analysis to help healthcare professionals identify genetic causes of disease and support diagnosis, treatment planning and patient management.

GeneDx’s offerings include whole exome and whole genome sequencing, as well as targeted testing for specific genetic disorders and hereditary cancer conditions.

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