Keith Meister Purchases 533,758 Shares of GeneDx (NASDAQ:WGS) Stock

GeneDx Holdings Corp. (NASDAQ:WGS) Director Keith Meister acquired 533,758 shares of GeneDx stock in a transaction that occurred on Thursday, May 7th. The shares were purchased at an average cost of $37.86 per share, with a total value of $20,208,077.88. Following the completion of the acquisition, the director owned 3,761,908 shares of the company’s stock, valued at $142,425,836.88. The trade was a 16.53% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

GeneDx Stock Down 0.3%

WGS opened at $39.49 on Wednesday. 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 company has a market cap of $1.17 billion, a price-to-earnings ratio of -14.74 and a beta of 2.06. GeneDx Holdings Corp. has a one year low of $32.21 and a one year high of $170.87. The business’s fifty day moving average is $66.25 and its two-hundred day moving average is $103.67.

GeneDx (NASDAQ:WGS) last released its quarterly earnings data on Monday, May 4th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $112.46 million. During the same quarter in the prior year, the firm earned ($0.23) earnings per share. Analysts anticipate that GeneDx Holdings Corp. will post -1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Zacks Research cut shares of GeneDx from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. Wall Street Zen cut shares of GeneDx from a “hold” rating to a “sell” rating in a research report on Saturday. BTIG Research cut their target price on shares of GeneDx from $170.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, May 5th. Canaccord Genuity Group set a $75.00 price target on GeneDx and gave the stock a “buy” rating in a report on Tuesday, May 5th. Finally, Guggenheim cut their price target on GeneDx from $100.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $96.43.

Hedge Funds Weigh In On GeneDx

A number of institutional investors have recently modified their holdings of the company. Amova Asset Management Americas Inc. increased its stake in GeneDx by 67.3% in the first quarter. Amova Asset Management Americas Inc. now owns 638,800 shares of the company’s stock valued at $41,024,000 after purchasing an additional 257,075 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in GeneDx by 143.4% in the first quarter. Dimensional Fund Advisors LP now owns 265,791 shares of the company’s stock valued at $17,062,000 after purchasing an additional 156,603 shares during the last quarter. Swiss National Bank increased its stake in GeneDx by 1.0% in the first quarter. Swiss National Bank now owns 40,000 shares of the company’s stock valued at $2,569,000 after purchasing an additional 400 shares during the last quarter. Future Fund LLC increased its stake in GeneDx by 264.0% in the first quarter. Future Fund LLC now owns 43,871 shares of the company’s stock valued at $2,817,000 after purchasing an additional 31,818 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in GeneDx by 11.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,637 shares of the company’s stock valued at $369,000 after purchasing an additional 575 shares during the last quarter. Institutional investors and hedge funds own 61.72% of the company’s stock.

Key Stories Impacting GeneDx

Here are the key news stories impacting GeneDx this week:

• Positive Sentiment: Director Keith Meister made several large open-market purchases of GeneDx shares, including buys of 171,389, 533,758, and 500,000 shares, signaling insider confidence in the company’s long-term outlook. Article Title
• Neutral Sentiment: Several institutional and analyst updates continue to show mixed but still active interest in WGS, with some firms maintaining buy/overweight ratings despite recent price-target cuts. Article Title
• Negative Sentiment: Pomerantz LLP announced an investigation into GeneDx on behalf of investors, adding to concerns about potential claims tied to the stock’s recent losses. Article Title
• Negative Sentiment: Barrack, Rodos & Bacine also opened a securities-fraud investigation into GeneDx, reinforcing the market’s fear that legal overhang could weigh on shares. Article Title
• Negative Sentiment: The company’s last earnings release disappointed investors, with EPS and revenue both missing expectations, which likely continues to pressure sentiment around WGS. Article Title

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.