GeneDx (NASDAQ:WGS) Price Target Raised to $35.00

GeneDx (NASDAQ:WGS) had its price objective raised by BTIG Research from $19.00 to $35.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also commented on WGS. TD Cowen raised their target price on GeneDx from $14.00 to $24.00 and gave the stock a buy rating in a report on Tuesday, April 30th. Jefferies Financial Group started coverage on GeneDx in a report on Monday, June 3rd. They issued a hold rating and a $21.00 price objective on the stock. Finally, The Goldman Sachs Group raised their price objective on GeneDx to $11.00 and gave the company a neutral rating in a report on Monday, April 15th.

GeneDx Stock Down 1.9 %

GeneDx stock opened at $26.14 on Wednesday. The firm has a market cap of $682.83 million, a price-to-earnings ratio of -5.05 and a beta of 2.21. GeneDx has a 52 week low of $1.16 and a 52 week high of $29.11. The business’s 50-day moving average price is $21.87 and its 200 day moving average price is $11.55. The company has a quick ratio of 2.99, a current ratio of 3.22 and a debt-to-equity ratio of 0.25.

GeneDx (NASDAQ:WGS) last posted its earnings results on Monday, April 29th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.35. The firm had revenue of $62.42 million for the quarter, compared to analyst estimates of $49.80 million. GeneDx had a negative return on equity of 36.23% and a negative net margin of 60.86%. As a group, sell-side analysts anticipate that GeneDx will post -0.92 earnings per share for the current year.

Insider Activity

In other news, CFO Kevin Feeley sold 2,646 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $28.31, for a total value of $74,908.26. Following the transaction, the chief financial officer now owns 37,409 shares in the company, valued at $1,059,048.79. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Katherine Stueland sold 2,652 shares of GeneDx stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $24.92, for a total transaction of $66,087.84. Following the transaction, the chief executive officer now owns 79,763 shares in the company, valued at $1,987,693.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Kevin Feeley sold 2,646 shares of GeneDx stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $28.31, for a total value of $74,908.26. Following the transaction, the chief financial officer now owns 37,409 shares in the company, valued at approximately $1,059,048.79. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 175,804 shares of company stock worth $3,771,670 and have sold 21,305 shares worth $462,821. Company insiders own 28.10% of the company’s stock.

Hedge Funds Weigh In On GeneDx

A number of institutional investors have recently added to or reduced their stakes in the stock. Oracle Investment Management Inc. lifted its position in GeneDx by 531.7% during the first quarter. Oracle Investment Management Inc. now owns 1,126,607 shares of the company’s stock worth $10,286,000 after buying an additional 948,253 shares in the last quarter. Vanguard Group Inc. raised its position in GeneDx by 4.2% in the first 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 raised its position in GeneDx by 59.3% in the first 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. HighTower Advisors LLC raised its position in GeneDx by 14.1% in the third quarter. HighTower Advisors LLC now owns 237,948 shares of the company’s stock valued at $865,000 after purchasing an additional 29,361 shares during the period. Finally, Gagnon Advisors LLC raised its position in GeneDx by 41.6% in the first 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. Hedge funds and other 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.