GeneDx (NASDAQ:WGS) Price Target Raised to $80.00

GeneDx (NASDAQ:WGS) had its price target hoisted by The Goldman Sachs Group from $70.00 to $80.00 in a report released on Wednesday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Several other analysts have also recently commented on the stock. Wells Fargo & Company increased their price target on shares of GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Craig Hallum raised their price objective on shares of GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, TD Cowen raised their price objective on shares of GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.33.

GeneDx Price Performance

WGS opened at $95.83 on Wednesday. GeneDx has a one year low of $6.79 and a one year high of $115.60. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. The company’s 50 day simple moving average is $79.05 and its 200-day simple moving average is $62.88. The stock has a market capitalization of $2.63 billion, a P/E ratio of -48.89 and a beta of 2.01.

GeneDx (NASDAQ:WGS) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.04 by $0.66. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. The business had revenue of $95.64 million for the quarter, compared to analysts’ expectations of $82.24 million. Sell-side analysts anticipate that GeneDx will post 0.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other GeneDx news, CFO Kevin Feeley sold 1,137 shares of GeneDx stock in a transaction on Monday, December 9th. The shares were sold at an average price of $76.37, for a total value of $86,832.69. Following the sale, the chief financial officer now directly owns 24,731 shares in the company, valued at approximately $1,888,706.47. The trade was a 4.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Katherine Stueland sold 1,657 shares of the business’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $78.48, for a total transaction of $130,041.36. Following the transaction, the chief executive officer now owns 3,937 shares in the company, valued at $308,975.76. This represents a 29.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 127,584 shares of company stock worth $11,336,520 over the last ninety days. Company insiders own 27.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. MCF Advisors LLC increased its stake in shares of GeneDx by 107.7% during the 4th quarter. MCF Advisors LLC now owns 351 shares of the company’s stock worth $27,000 after purchasing an additional 182 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in shares of GeneDx by 877.8% during the 4th quarter. Sterling Capital Management LLC now owns 352 shares of the company’s stock worth $27,000 after buying an additional 316 shares during the period. Global Retirement Partners LLC bought a new stake in shares of GeneDx during the 4th quarter worth about $28,000. Lazard Asset Management LLC bought a new stake in shares of GeneDx during the 4th quarter worth about $35,000. Finally, Comerica Bank bought a new stake in shares of GeneDx during the 4th quarter worth about $50,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

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.