GeneDx (NASDAQ:WGS) Price Target Raised to $75.00

GeneDx (NASDAQ:WGS) had its target price boosted by equities researchers at Wells Fargo & Company from $34.00 to $75.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential downside of 10.06% from the company’s previous close.

A number of other research analysts have also issued reports on the stock. The Goldman Sachs Group increased their target price on shares of GeneDx from $32.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. BTIG Research upped their price objective on shares of GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. TD Cowen increased their price target on shares of GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Craig Hallum boosted their price objective on shares of GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.67.

GeneDx Stock Performance

WGS traded down $0.63 during trading on Wednesday, hitting $83.39. The stock had a trading volume of 367,841 shares, compared to its average volume of 431,554. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.38 and a quick ratio of 2.22. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of -16.14 and a beta of 2.32. The company has a 50 day moving average price of $44.67 and a 200-day moving average price of $32.06. GeneDx has a one year low of $1.16 and a one year high of $89.06.

GeneDx (NASDAQ:WGS) last released its quarterly earnings results on Tuesday, July 30th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.15. GeneDx had a negative net margin of 48.21% and a negative return on equity of 22.71%. The business had revenue of $70.51 million for the quarter, compared to the consensus estimate of $58.90 million. As a group, research analysts predict that GeneDx will post -0.75 EPS for the current year.

Insider Buying and Selling at GeneDx

In other news, major shareholder Opko Health, Inc. sold 12,994 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $29.35, for a total value of $381,373.90. Following the completion of the transaction, the insider now owns 2,971,570 shares of the company’s stock, valued at $87,215,579.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Kevin Feeley sold 895 shares of GeneDx stock in a transaction that occurred on 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Opko Health, Inc. sold 12,994 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $29.35, for a total transaction of $381,373.90. Following the sale, the insider now directly owns 2,971,570 shares of the company’s stock, valued at $87,215,579.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 267,401 shares of company stock worth $8,794,447 over the last quarter. Corporate insiders own 28.10% of the company’s stock.

Institutional Investors Weigh In On GeneDx

A number of institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC bought a new stake in shares of GeneDx during the 2nd quarter valued at about $34,000. nVerses Capital LLC acquired a new position in GeneDx in the second quarter valued at approximately $50,000. CWM LLC bought a new position in shares of GeneDx during the 3rd quarter worth approximately $89,000. SG Americas Securities LLC acquired a new stake in shares of GeneDx during the 3rd quarter worth approximately $198,000. Finally, Thompson Davis & CO. Inc. increased its stake 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 acquiring an additional 4,150 shares in the last quarter. 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.