GeneDx (NASDAQ:WGS) Price Target Raised to $75.00 at Wells Fargo & Company

GeneDx (NASDAQ:WGS) had its price target hoisted by Wells Fargo & Company from $34.00 to $75.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

WGS has been the subject of several other research reports. Craig Hallum increased their target price on shares of GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday. The Goldman Sachs Group raised their price objective on shares of GeneDx from $32.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. TD Cowen upped 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, BTIG Research raised their price target 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. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.33.

GeneDx Price Performance

NASDAQ WGS opened at $77.74 on Wednesday. GeneDx has a 1 year low of $1.16 and a 1 year high of $89.11. The stock’s 50-day moving average price is $47.44 and its two-hundred day moving average price is $33.23. The company has a market cap of $2.09 billion, a PE ratio of -25.00 and a beta of 2.32. The company has a current ratio of 2.40, a quick ratio of 2.22 and a debt-to-equity ratio of 0.25.

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

Insider Activity

In other news, major shareholder Opko Health, Inc. sold 100,000 shares of GeneDx stock in a transaction that occurred 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 completion of the sale, the insider now owns 2,871,570 shares in the company, valued at $91,373,357.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Opko Health, Inc. sold 100,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now owns 2,871,570 shares in the company, 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 Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin Feeley sold 895 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was 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 $1,330,200.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 269,829 shares of company stock valued at $8,956,152 over the last three months. 27.30% of the stock is owned by insiders.

Institutional Investors Weigh In On GeneDx

A number of institutional investors and hedge funds have recently modified their holdings of WGS. Renaissance Technologies LLC bought a new position in shares of GeneDx during the second quarter worth approximately $2,362,000. Millennium Management LLC grew its holdings in GeneDx by 193.5% in the 2nd quarter. Millennium Management LLC now owns 311,401 shares of the company’s stock valued at $8,140,000 after buying an additional 205,318 shares in the last quarter. Algert Global LLC acquired a new position in GeneDx in the 2nd quarter valued at $356,000. Calamos Advisors LLC acquired a new stake in shares of GeneDx during the second quarter worth $1,137,000. Finally, Point72 Asset Management L.P. boosted 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 acquiring an additional 108,864 shares during the period. 61.72% of the stock is 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.