GeneDx (NASDAQ:WGS) Price Target Raised to $54.00

GeneDx (NASDAQ:WGS) had its price target lifted by The Goldman Sachs Group from $32.00 to $54.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other analysts have also issued reports on the company. Wells Fargo & Company assumed coverage on GeneDx in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $34.00 target price for the company. BTIG Research increased their target price on GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Craig Hallum increased their target price on GeneDx from $43.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, TD Cowen increased their target price on GeneDx from $46.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, GeneDx currently has an average rating of “Moderate Buy” and a consensus target price of $41.67.

GeneDx Price Performance

Shares of NASDAQ:WGS opened at $60.05 on Wednesday. GeneDx has a one year low of $1.16 and a one year high of $61.96. The stock has a fifty day moving average of $40.84 and a 200-day moving average of $29.26. The company has a market capitalization of $1.57 billion, a PE ratio of -11.59 and a beta of 2.32. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.22 and a current ratio of 2.38.

GeneDx (NASDAQ:WGS) last released its earnings results on Tuesday, July 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.15. The company had revenue of $70.51 million during the quarter, compared to analyst estimates of $58.90 million. GeneDx had a negative return on equity of 22.71% and a negative net margin of 48.21%. As a group, equities analysts anticipate that GeneDx will post -0.75 EPS for the current fiscal year.

Insider Transactions at GeneDx

In other news, CFO Kevin Feeley sold 895 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $33.33, for a total value of $29,830.35. Following the transaction, the chief financial officer now directly owns 39,910 shares of the company’s stock, valued at approximately $1,330,200.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other GeneDx news, major shareholder Opko Health, Inc. sold 100,000 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $31.82, for a total transaction of $3,182,000.00. Following the transaction, the insider now directly owns 2,871,570 shares of the company’s stock, valued at $91,373,357.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kevin Feeley sold 895 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $33.33, for a total transaction of $29,830.35. Following the transaction, the chief financial officer now directly owns 39,910 shares in the company, valued at $1,330,200.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 593,668 shares of company stock valued at $19,735,488. 28.10% of the stock is owned by insiders.

Hedge Funds Weigh In On GeneDx

Hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC acquired a new position in GeneDx during the second quarter worth $2,362,000. Millennium Management LLC grew its position in shares of GeneDx by 193.5% in the second quarter. Millennium Management LLC now owns 311,401 shares of the company’s stock valued at $8,140,000 after purchasing an additional 205,318 shares during the last quarter. Algert Global LLC acquired a new stake in shares of GeneDx in the second quarter valued at about $356,000. Calamos Advisors LLC acquired a new stake in shares of GeneDx in the second quarter valued at about $1,137,000. Finally, Point72 Asset Management L.P. grew its position in shares of GeneDx by 227.4% in the second quarter. Point72 Asset Management L.P. now owns 156,745 shares of the company’s stock valued at $4,097,000 after purchasing an additional 108,864 shares during the last quarter. 61.72% of the stock is owned by institutional investors and hedge funds.

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.