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

GeneDx (NASDAQ:WGS) had its target price hoisted by BTIG Research from $19.00 to $35.00 in a research note published on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

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

GeneDx Price Performance

Shares of NASDAQ WGS opened at $26.14 on Wednesday. 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 company has a market capitalization of $682.78 million, a PE ratio of -5.05 and a beta of 2.21. The stock’s 50 day moving average price is $21.87 and its 200-day moving average price is $11.62. GeneDx has a twelve month low of $1.16 and a twelve month high of $29.11.

GeneDx (NASDAQ:WGS) last released its quarterly earnings data on Monday, April 29th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.35. GeneDx had a negative net margin of 60.86% and a negative return on equity of 36.23%. The business had revenue of $62.42 million for the quarter, compared to the consensus estimate of $49.80 million. On average, equities analysts anticipate that GeneDx will post -0.92 EPS for the current year.

Insider Activity at GeneDx

In related news, Director Casdin Capital, Llc purchased 50,000 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were purchased at an average price of $23.31 per share, with a total value of $1,165,500.00. Following the acquisition, the director now directly owns 2,753,509 shares in the company, valued at approximately $64,184,294.79. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Katherine Stueland sold 6,325 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $11.04, for a total value of $69,828.00. Following the transaction, the chief executive officer now directly owns 75,869 shares of the company’s stock, valued at approximately $837,593.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Casdin Capital, Llc purchased 50,000 shares of GeneDx stock in a transaction on Monday, May 13th. The stock was bought at an average price of $23.31 per share, with a total value of $1,165,500.00. Following the transaction, the director now owns 2,753,509 shares of the company’s stock, valued at $64,184,294.79. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 175,804 shares of company stock valued at $3,771,670 and have sold 21,305 shares valued at $462,821. 28.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On GeneDx

Several large investors have recently modified their holdings of WGS. PFG Investments LLC bought a new position in shares of GeneDx during the 1st quarter worth $95,000. Thompson Davis & CO. Inc. grew its holdings in GeneDx by 99.4% during the 4th quarter. Thompson Davis & CO. Inc. now owns 19,944 shares of the company’s stock worth $55,000 after acquiring an additional 9,944 shares in the last quarter. Decheng Capital LLC purchased a new position in GeneDx during the 4th quarter valued at about $285,000. Gagnon Advisors LLC raised its holdings in shares of GeneDx by 41.6% in 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 in the last quarter. Finally, HighTower Advisors LLC lifted its holdings in GeneDx by 14.1% during the third quarter. HighTower Advisors LLC now owns 237,948 shares of the company’s stock worth $865,000 after buying an additional 29,361 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.