GeneDx (NASDAQ:WGS) Price Target Increased to $46.00 by Analysts at Craig Hallum

GeneDx (NASDAQ:WGS) had its price objective boosted by Craig Hallum from $43.00 to $46.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research firms have also recently weighed in on WGS. TD Cowen upped their price objective on shares of GeneDx from $14.00 to $24.00 and gave the stock a buy rating in a research report on Tuesday, April 30th. The Goldman Sachs Group boosted their target price on GeneDx from $28.00 to $32.00 and gave the stock a neutral rating in a research note on Wednesday. Jefferies Financial Group started coverage on GeneDx in a research note on Monday, June 3rd. They set a hold rating and a $21.00 target price for the company. Finally, BTIG Research boosted their target price on GeneDx from $19.00 to $35.00 and gave the stock a buy rating in a research note on Wednesday, June 26th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $38.80.

GeneDx Trading Down 6.8 %

WGS opened at $30.07 on Wednesday. GeneDx has a twelve month low of $1.16 and a twelve month high of $35.65. The company has a 50-day simple moving average of $28.43 and a 200 day simple moving average of $16.51. The company has a quick ratio of 2.99, a current ratio of 3.22 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $785.43 million, a price-to-earnings ratio of -5.81 and a beta of 2.29.

Insiders Place Their Bets

In other news, Director Casdin Capital, Llc acquired 7,500 shares of the stock in a transaction dated Thursday, May 23rd. The stock was bought at an average price of $19.59 per share, with a total value of $146,925.00. Following the completion of the purchase, the director now directly owns 2,761,009 shares of the company’s stock, valued at approximately $54,088,166.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Casdin Capital, Llc acquired 7,500 shares of the stock in a transaction dated Thursday, May 23rd. The stock was bought at an average price of $19.59 per share, with a total value of $146,925.00. Following the completion of the purchase, the director now directly owns 2,761,009 shares of the company’s stock, valued at approximately $54,088,166.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Katherine Stueland sold 2,652 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $24.92, for a total value of $66,087.84. Following the completion of the transaction, the chief executive officer now directly owns 79,763 shares of the company’s stock, valued at approximately $1,987,693.96. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 175,804 shares of company stock valued at $3,771,670 and sold 490,343 shares valued at $15,701,354. Insiders own 28.10% of the company’s stock.

Institutional Trading of GeneDx

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Oracle Investment Management Inc. increased its position in GeneDx by 531.7% during the 1st quarter. Oracle Investment Management Inc. now owns 1,126,607 shares of the company’s stock valued at $10,286,000 after purchasing an additional 948,253 shares during the period. Vanguard Group Inc. increased its position in GeneDx by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 707,612 shares of the company’s stock valued at $6,460,000 after purchasing an additional 28,678 shares during the period. Gagnon Securities LLC increased its position in GeneDx by 59.3% during the 1st quarter. Gagnon Securities LLC now owns 556,305 shares of the company’s stock valued at $5,079,000 after purchasing an additional 207,027 shares during the period. Assenagon Asset Management S.A. acquired a new stake in GeneDx during the 2nd quarter valued at approximately $9,575,000. Finally, Gagnon Advisors LLC increased its position in GeneDx by 41.6% during the 1st quarter. Gagnon Advisors LLC now owns 211,393 shares of the company’s stock valued at $1,930,000 after purchasing an additional 62,059 shares during the period. Institutional investors and hedge funds own 61.72% of the company’s stock.

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.