GeneDx (NASDAQ:WGS) PT Raised to $24.00 at TD Cowen

GeneDx (NASDAQ:WGS) had its price target boosted by equities research analysts at TD Cowen from $14.00 to $24.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s price objective would indicate a potential upside of 14.72% from the company’s previous close.

Other analysts have also recently issued research reports about the company. BTIG Research lifted their price target on GeneDx from $15.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday. The Goldman Sachs Group lifted their price target on GeneDx to $11.00 and gave the company a “neutral” rating in a report on Monday, April 15th.

GeneDx Trading Up 22.6 %

GeneDx stock opened at $20.92 on Tuesday. The stock has a market cap of $545.05 million, a PE ratio of -4.04 and a beta of 2.75. The stock has a 50-day moving average price of $9.63 and a 200 day moving average price of $5.19. GeneDx has a 52 week low of $1.16 and a 52 week high of $21.49. The company has a current ratio of 3.10, a quick ratio of 2.95 and a debt-to-equity ratio of 0.23.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings data on Tuesday, February 20th. The company reported ($0.59) EPS for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.01. The firm had revenue of $57.42 million during the quarter, compared to analysts’ expectations of $57.00 million. GeneDx had a negative return on equity of 34.40% and a negative net margin of 60.86%. Equities research analysts predict that GeneDx will post -2.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Katherine Stueland sold 6,325 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $11.04, for a total transaction of $69,828.00. Following the completion of the transaction, the chief executive officer now directly owns 75,869 shares in the company, valued at approximately $837,593.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Casdin Capital, Llc acquired 40,000 shares of GeneDx stock in a transaction that occurred on Monday, March 4th. The shares were purchased at an average cost of $8.74 per share, for a total transaction of $349,600.00. Following the completion of the purchase, the director now directly owns 2,702,609 shares of the company’s stock, valued at approximately $23,620,802.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Katherine Stueland sold 6,325 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $11.04, for a total value of $69,828.00. Following the transaction, the chief executive officer now owns 75,869 shares in the company, valued at $837,593.76. The disclosure for this sale can be found here. Insiders sold a total of 21,249 shares of company stock worth $228,370 in the last 90 days. 28.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On GeneDx

Several large investors have recently added to or reduced their stakes in the stock. Thompson Davis & CO. Inc. increased its position in GeneDx by 99.4% in the fourth quarter. Thompson Davis & CO. Inc. now owns 19,944 shares of the company’s stock worth $55,000 after buying an additional 9,944 shares during the period. PFG Investments LLC acquired a new stake in GeneDx in the first quarter worth $95,000. Pathstone Family Office LLC increased its position in GeneDx by 262.2% in the third quarter. Pathstone Family Office LLC now owns 54,327 shares of the company’s stock worth $198,000 after buying an additional 39,327 shares during the period. Decheng Capital LLC acquired a new stake in GeneDx in the fourth quarter worth $285,000. Finally, Trellus Management Company LLC increased its position in GeneDx by 55.0% in the third quarter. Trellus Management Company LLC now owns 155,012 shares of the company’s stock worth $564,000 after buying an additional 54,976 shares during the period. 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.