GeneDx (NASDAQ:WGS) Price Target Increased to $54.00 by Analysts at The Goldman Sachs Group

GeneDx (NASDAQ:WGS) had its price target upped by The Goldman Sachs Group from $32.00 to $54.00 in a report published on Wednesday, Benzinga reports. The firm currently has a neutral rating on the stock.

Other equities research analysts also recently issued research reports about the stock. TD Cowen boosted their price objective on shares of GeneDx from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company initiated coverage on GeneDx in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $34.00 price target for the company. Craig Hallum lifted their price objective on GeneDx from $43.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, BTIG Research lifted their target price on shares of GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Three research 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 stock has a consensus rating of “Moderate Buy” and a consensus target price of $41.67.

GeneDx Stock Performance

Shares of WGS stock opened at $60.05 on Wednesday. The company has a quick ratio of 2.22, a current ratio of 2.38 and a debt-to-equity ratio of 0.27. The company has a 50 day moving average price of $40.84 and a 200-day moving average price of $29.40. GeneDx has a 52 week low of $1.16 and a 52 week high of $61.96. The firm has a market capitalization of $1.57 billion, a PE ratio of -11.59 and a beta of 2.32.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings data on Tuesday, July 30th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.15. GeneDx had a negative return on equity of 22.71% and a negative net margin of 48.21%. The company had revenue of $70.51 million during the quarter, compared to analysts’ expectations of $58.90 million. As a group, equities research analysts expect that GeneDx will post -0.75 earnings per share for the current year.

Insider Transactions at GeneDx

In other news, CEO Katherine Stueland sold 2,154 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $33.54, for a total transaction of $72,245.16. Following the transaction, the chief executive officer now directly owns 92,550 shares of the company’s stock, valued at approximately $3,104,127. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Katherine Stueland sold 2,154 shares of GeneDx stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $33.54, for a total transaction of $72,245.16. Following the completion of the sale, the chief executive officer now owns 92,550 shares of the company’s stock, valued at $3,104,127. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kevin Feeley sold 895 shares of the business’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 $29,830.35. Following the transaction, the chief financial officer now 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. In the last quarter, insiders sold 593,668 shares of company stock valued at $19,735,488. Company insiders own 28.10% of the company’s stock.

Hedge Funds Weigh In On GeneDx

Several large investors have recently modified their holdings of WGS. Thompson Davis & CO. Inc. boosted its holdings in GeneDx by 20.8% during the 1st 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 period. Vanguard Group Inc. grew its holdings in shares of 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 in the last quarter. Gagnon Advisors LLC increased its stake in GeneDx by 41.6% during the 1st quarter. Gagnon Advisors LLC now owns 211,393 shares of the company’s stock worth $1,930,000 after buying an additional 62,059 shares during the period. Gagnon Securities LLC lifted its holdings in GeneDx by 59.3% during the 1st quarter. Gagnon Securities LLC now owns 556,305 shares of the company’s stock worth $5,079,000 after buying an additional 207,027 shares in the last quarter. Finally, Oracle Investment Management Inc. boosted its position in GeneDx by 531.7% in the 1st quarter. Oracle Investment Management Inc. now owns 1,126,607 shares of the company’s stock valued at $10,286,000 after buying an additional 948,253 shares during the period. Institutional investors and hedge funds 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.