GeneDx (NASDAQ:WGS) Price Target Raised to $70.00

GeneDx (NASDAQ:WGS) had its price target lifted by The Goldman Sachs Group from $54.00 to $70.00 in a report issued on Wednesday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Wells Fargo & Company raised their target price on shares of GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Craig Hallum lifted their price objective on GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday. TD Cowen increased their target price on GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, BTIG Research increased their price objective on GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $59.33.

GeneDx Trading Down 4.8 %

NASDAQ WGS opened at $77.74 on Wednesday. The business’s fifty day moving average is $47.44 and its 200-day moving average is $33.23. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.22. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of -25.00 and a beta of 2.32. GeneDx has a one year low of $1.16 and a one year high of $89.11.

GeneDx (NASDAQ:WGS) last issued its earnings results on Tuesday, October 29th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.21) by $0.25. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. The business had revenue of $76.90 million during the quarter, compared to the consensus estimate of $64.98 million. The firm’s revenue was up 44.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.82) EPS. Equities research analysts predict that GeneDx will post -0.75 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Katherine Stueland sold 2,154 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $66.60, for a total value of $143,456.40. Following the completion of the transaction, the chief executive officer now owns 105,426 shares of the company’s stock, valued at $7,021,371.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other GeneDx news, major shareholder Opko Health, Inc. sold 50,000 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $34.49, for a total transaction of $1,724,500.00. Following the completion of the transaction, the insider now owns 2,646,972 shares of the company’s stock, valued at $91,294,064.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Katherine Stueland sold 2,154 shares of GeneDx stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $66.60, for a total value of $143,456.40. Following the completion of the sale, the chief executive officer now directly owns 105,426 shares in the company, valued at $7,021,371.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 269,829 shares of company stock worth $8,956,152. Company insiders own 27.30% of the company’s stock.

Institutional Trading of GeneDx

Large investors have recently made changes to their positions in the business. Oracle Investment Management Inc. lifted its position in GeneDx by 531.7% in the first quarter. Oracle Investment Management Inc. now owns 1,126,607 shares of the company’s stock worth $10,286,000 after buying an additional 948,253 shares during the last quarter. Driehaus Capital Management LLC bought a new stake in shares of GeneDx in the 2nd quarter worth about $11,335,000. Assenagon Asset Management S.A. purchased a new position in shares of GeneDx during the 2nd quarter worth about $9,575,000. Divisadero Street Capital Management LP purchased a new position in shares of GeneDx during the 2nd quarter worth about $5,886,000. Finally, Gagnon Securities LLC grew its holdings in GeneDx by 59.3% during the 1st quarter. Gagnon Securities LLC now owns 556,305 shares of the company’s stock valued at $5,079,000 after purchasing an additional 207,027 shares during the last quarter. 61.72% of the stock is currently owned by institutional investors.

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.