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

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

Other analysts have also recently issued reports about the company. BTIG Research raised their price target on GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group increased their price objective on GeneDx from $32.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Craig Hallum boosted their target price on GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, TD Cowen increased their price target 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. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.33.

GeneDx Trading Down 4.8 %

WGS opened at $77.74 on Wednesday. GeneDx has a 52 week low of $1.16 and a 52 week high of $89.11. The company has a quick ratio of 2.22, a current ratio of 2.40 and a debt-to-equity ratio of 0.25. The business has a fifty day simple moving average of $47.44 and a 200-day simple moving average of $33.23. The firm has a market cap of $2.09 billion, a P/E ratio of -25.00 and a beta of 2.32.

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

Insider Activity

In related news, major shareholder Opko Health, Inc. sold 100,000 shares of the firm’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 transaction, the insider now owns 2,871,570 shares in the company, valued at approximately $91,373,357.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Katherine Stueland sold 3,639 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $33.33, for a total transaction of $121,287.87. Following the completion of the sale, the chief executive officer now directly owns 95,457 shares of the company’s stock, valued at approximately $3,181,581.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Opko Health, Inc. sold 100,000 shares of the stock in a transaction dated 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 directly owns 2,871,570 shares of the company’s stock, valued at $91,373,357.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 269,829 shares of company stock valued at $8,956,152 over the last 90 days. Insiders own 27.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of WGS. Acadian Asset Management LLC bought a new stake in shares of GeneDx in the 2nd quarter worth approximately $34,000. nVerses Capital LLC bought a new stake in GeneDx in the second quarter valued at $50,000. CWM LLC acquired a new position in shares of GeneDx during the third quarter valued at $89,000. SG Americas Securities LLC bought a new position in shares of GeneDx during the third quarter worth about $198,000. Finally, Thompson Davis & CO. Inc. increased its holdings 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 worth $220,000 after acquiring an additional 4,150 shares during the period. Institutional investors own 61.72% of the company’s stock.

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.