Craig Hallum Issues Positive Forecast for GeneDx (NASDAQ:WGS) Stock Price

GeneDx (NASDAQ:WGS) had its target price hoisted by Craig Hallum from $70.00 to $95.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently commented on WGS. BTIG Research lifted their price objective 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. Wells Fargo & Company began coverage on GeneDx in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $34.00 price target for the company. TD Cowen increased their target price 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, The Goldman Sachs Group upped their price target on shares of GeneDx from $32.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.33.

GeneDx Trading Down 4.8 %

Shares of WGS stock opened at $77.74 on Wednesday. The company has a current ratio of 2.40, a quick ratio of 2.22 and a debt-to-equity ratio of 0.25. 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 12-month low of $1.16 and a 12-month high of $89.11. The stock’s 50-day moving average price is $47.44 and its 200-day moving average price is $33.39.

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

Insider Activity at GeneDx

In other GeneDx news, CFO Kevin Feeley sold 895 shares of the company’s stock in a transaction dated 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 in the company, valued at $1,330,200.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder Opko Health, Inc. sold 100,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $31.82, for a total value of $3,182,000.00. Following the completion of the sale, the insider now owns 2,871,570 shares in the company, valued at approximately $91,373,357.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin Feeley sold 895 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly 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 disclosure for this sale can be found here. Insiders sold 269,829 shares of company stock worth $8,956,152 in the last 90 days. 27.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GeneDx

Large investors have recently bought and sold shares of the business. Acadian Asset Management LLC bought a new position in shares of GeneDx in the 2nd quarter worth $34,000. nVerses Capital LLC bought a new position in GeneDx in the second quarter worth about $50,000. CWM LLC bought a new position in GeneDx in the third quarter worth about $89,000. SG Americas Securities LLC purchased a new stake in shares of GeneDx during the third quarter valued at about $198,000. Finally, Thompson Davis & CO. Inc. boosted its holdings in shares of GeneDx by 20.8% in the 1st quarter. Thompson Davis & CO. Inc. now owns 24,094 shares of the company’s stock valued at $220,000 after buying an additional 4,150 shares in the last quarter. Institutional investors own 61.72% of the company’s stock.

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.