GeneDx (NASDAQ:WGS) Price Target Increased to $70.00 by Analysts at Craig Hallum

GeneDx (NASDAQ:WGS) had its target price upped by Craig Hallum from $46.00 to $70.00 in a report published on Thursday, Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also recently commented on the stock. The Goldman Sachs Group upped their price target on shares of GeneDx from $32.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. BTIG Research upped their target price on shares of GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. TD Cowen lifted their price target on shares of GeneDx from $46.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company initiated coverage on GeneDx in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $34.00 price objective on the stock. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $45.67.

GeneDx Stock Performance

GeneDx stock opened at $58.82 on Thursday. GeneDx has a 1-year low of $1.16 and a 1-year high of $61.96. The company’s 50-day moving average is $43.27 and its 200 day moving average is $31.08. The firm has a market capitalization of $1.54 billion, a P/E ratio of -11.36 and a beta of 2.32. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.38 and a quick ratio of 2.22.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings results on Tuesday, July 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.15. The firm 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%. Research analysts forecast that GeneDx will post -0.75 EPS for the current year.

Insider Activity

In related news, major shareholder Opko Health, Inc. sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $33.86, for a total value of $1,693,000.00. Following the completion of the transaction, the insider now owns 3,073,403 shares of the company’s stock, valued at $104,065,425.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Kevin Feeley sold 895 shares of GeneDx stock in a transaction that occurred 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 owns 39,910 shares of the company’s stock, valued at $1,330,200.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Opko Health, Inc. sold 50,000 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $33.86, for a total transaction of $1,693,000.00. Following the sale, the insider now directly owns 3,073,403 shares of the company’s stock, valued at $104,065,425.58. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 408,668 shares of company stock worth $13,544,988. Corporate insiders own 28.10% of the company’s stock.

Hedge Funds Weigh In On GeneDx

A number of large investors have recently made changes to their positions in WGS. Precision Wealth Strategies LLC acquired a new stake in shares of GeneDx in the 3rd quarter worth $364,000. Raymond James & Associates acquired a new stake in GeneDx in the third quarter worth about $8,090,000. CWM LLC purchased a new stake in shares of GeneDx during the third quarter worth about $89,000. SG Americas Securities LLC acquired a new position in shares of GeneDx during the third quarter valued at about $198,000. Finally, Point72 Asset Management L.P. increased its holdings in shares of GeneDx by 227.4% during the second quarter. Point72 Asset Management L.P. now owns 156,745 shares of the company’s stock valued at $4,097,000 after acquiring an additional 108,864 shares in the last quarter. 61.72% of the stock is owned by institutional investors and hedge funds.

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.