Key Points
- Director Keith Meister bought 171,389 shares of GeneDx at an average price of $40.59, a transaction worth about $6.96 million and a 4.56% increase in his holdings.
- GeneDx stock fell 2.8% and opened at $39.61, even after the insider purchase.
- The company recently reported weaker-than-expected quarterly results, posting a loss of $0.28 per share on revenue of $102.25 million, below analyst estimates.
GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) Director Keith Meister bought 171,389 shares of the stock in a transaction on Friday, May 8th. The stock was purchased at an average cost of $40.59 per share, for a total transaction of $6,956,679.51. Following the acquisition, the director directly owned 3,933,297 shares of the company's stock, valued at $159,652,525.23. The trade was a 4.56% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.
GeneDx Stock Down 2.8%
GeneDx stock opened at $39.61 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.95 and a current ratio of 3.09. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -14.78 and a beta of 2.06. GeneDx Holdings Corp. has a fifty-two week low of $32.21 and a fifty-two week high of $170.87. The stock's fifty day moving average is $67.05 and its two-hundred day moving average is $104.25.
GeneDx (NASDAQ:WGS - Get Free Report) last posted its earnings results on Monday, May 4th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.22). The firm had revenue of $102.25 million during the quarter, compared to analyst estimates of $112.46 million. GeneDx had a negative net margin of 17.58% and a positive return on equity of 9.15%. During the same period last year, the company posted ($0.23) EPS. Analysts predict that GeneDx Holdings Corp. will post 0.75 EPS for the current fiscal year.
Institutional Trading of GeneDx
Large investors have recently made changes to their positions in the stock. ARK Investment Management LLC acquired a new stake in GeneDx in the 3rd quarter worth about $48,157,000. Principal Financial Group Inc. boosted its stake in GeneDx by 340.4% in the 3rd quarter. Principal Financial Group Inc. now owns 59,624 shares of the company's stock worth $6,424,000 after buying an additional 46,085 shares during the last quarter. Impax Asset Management Group plc acquired a new stake in GeneDx in the 3rd quarter worth about $5,387,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in GeneDx by 30.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 381,725 shares of the company's stock worth $49,647,000 after buying an additional 89,470 shares during the last quarter. Finally, Telemark Asset Management LLC acquired a new stake in GeneDx in the 3rd quarter worth about $12,929,000. Institutional investors and hedge funds own 61.72% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms recently commented on WGS. Piper Sandler reaffirmed an "overweight" rating and set a $130.00 price objective (down from $160.00) on shares of GeneDx in a research note on Tuesday, February 24th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $75.00 price objective (down from $155.00) on shares of GeneDx in a research note on Tuesday, May 5th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of GeneDx in a research note on Wednesday, January 21st. Wall Street Zen lowered GeneDx from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, Guggenheim decreased their price objective on GeneDx from $100.00 to $70.00 and set a "buy" rating on the stock in a research note on Tuesday, May 5th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $96.43.
Read Our Latest Analysis on WGS
GeneDx Company Profile
(
Get Free Report)
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.
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