Craig Hallum Forecasts Strong Price Appreciation for GeneDx (NASDAQ:WGS) Stock

GeneDx (NASDAQ:WGS) had its price objective increased by stock analysts at Craig Hallum from $70.00 to $95.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Craig Hallum’s price objective points to a potential upside of 16.29% from the company’s current price.

A number of other research analysts have also weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of GeneDx from $32.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. TD Cowen lifted their price objective 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. Wells Fargo & Company began coverage on shares of GeneDx in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $34.00 price objective for the company. Finally, BTIG Research boosted their price target on shares of GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $59.33.

GeneDx Stock Down 1.8 %

GeneDx stock opened at $81.69 on Wednesday. GeneDx has a 1-year low of $1.16 and a 1-year high of $89.11. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of -26.27 and a beta of 2.32. The company has a current ratio of 2.38, a quick ratio of 2.22 and a debt-to-equity ratio of 0.27. The firm has a 50 day simple moving average of $46.60 and a 200 day simple moving average of $32.76.

GeneDx (NASDAQ:WGS) last released its quarterly earnings data on Tuesday, July 30th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $58.90 million. On average, analysts predict that GeneDx will post -0.75 earnings per share for the current year.

Insider Activity

In other news, CEO Katherine Stueland sold 2,154 shares of GeneDx stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $66.60, for a total transaction of $143,456.40. Following the completion of the sale, the chief executive officer now directly owns 105,426 shares of the company’s stock, valued at approximately $7,021,371.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Katherine Stueland sold 2,154 shares of GeneDx stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $66.60, for a total transaction of $143,456.40. Following the completion of the sale, the chief executive officer now directly owns 105,426 shares of the company’s stock, valued at approximately $7,021,371.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kevin Feeley sold 895 shares of GeneDx stock in a transaction 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 sale, 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 sold 269,829 shares of company stock worth $8,956,152 in the last three months. Corporate insiders own 27.30% of the company’s stock.

Institutional Trading of GeneDx

Several hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC bought a new stake in GeneDx in the second quarter worth $34,000. nVerses Capital LLC bought a new position in shares of GeneDx during the second quarter valued at about $50,000. CWM LLC bought a new position in shares of GeneDx during the third quarter valued at about $89,000. Thompson Davis & CO. Inc. raised its stake in shares of GeneDx by 20.8% during the first 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 during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of GeneDx by 36.1% during the second quarter. American Century Companies Inc. now owns 17,258 shares of the company’s stock valued at $451,000 after acquiring an additional 4,573 shares during 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.