Weekly Investment Analysts’ Ratings Changes for GeneDx (WGS)

Several analysts have recently updated their ratings and price targets for GeneDx (NASDAQ: WGS):

• 7/31/2024 – GeneDx had its price target raised by analysts at The Goldman Sachs Group, Inc. from $28.00 to $32.00. They now have a “neutral” rating on the stock.
• 7/31/2024 – GeneDx had its price target raised by analysts at TD Cowen from $46.00 to $50.00. They now have a “buy” rating on the stock.
• 7/31/2024 – GeneDx had its price target raised by analysts at BTIG Research from $35.00 to $45.00. They now have a “buy” rating on the stock.
• 7/31/2024 – GeneDx had its price target raised by analysts at Craig Hallum from $43.00 to $46.00. They now have a “buy” rating on the stock.
• 7/17/2024 – GeneDx had its price target raised by analysts at The Goldman Sachs Group, Inc. from $12.50 to $28.00. They now have a “neutral” rating on the stock.
• 7/10/2024 – GeneDx is now covered by analysts at Craig Hallum. They set a “buy” rating and a $43.00 price target on the stock.
• 6/26/2024 – GeneDx had its price target raised by analysts at BTIG Research from $19.00 to $35.00. They now have a “buy” rating on the stock.

GeneDx Trading Up 1.3 %

Shares of GeneDx stock traded up $0.46 during trading on Wednesday, hitting $34.74. The stock had a trading volume of 199,389 shares, compared to its average volume of 401,735. GeneDx Holdings Corp. has a 12 month low of $1.16 and a 12 month high of $37.45. The firm’s fifty day simple moving average is $30.66 and its 200-day simple moving average is $19.15. The stock has a market cap of $907.48 million, a PE ratio of -6.71 and a beta of 2.29. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.38 and a quick ratio of 2.99.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings results on Tuesday, July 30th. The company reported ($0.11) earnings per share (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%. As a group, sell-side analysts expect that GeneDx Holdings Corp. will post -0.75 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Opko Health, Inc. sold 50,000 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $34.49, for a total transaction of $1,724,500.00. Following the sale, the insider now directly owns 2,646,972 shares of the company’s stock, valued at $91,294,064.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder Opko Health, Inc. sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $34.49, for a total value of $1,724,500.00. Following the completion of the sale, the insider now directly owns 2,646,972 shares in the company, valued at $91,294,064.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Katherine Stueland sold 2,154 shares of the business’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 completion of the sale, the chief executive officer now directly owns 92,550 shares of the company’s stock, valued at approximately $3,104,127. The disclosure for this sale can be found here. In the last three months, insiders purchased 125,804 shares of company stock worth $2,606,170 and sold 752,948 shares worth $24,336,375. 28.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On GeneDx

A number of hedge funds have recently made changes to their positions in WGS. Acadian Asset Management LLC acquired a new stake in shares of GeneDx in the 2nd quarter valued at $34,000. nVerses Capital LLC purchased a new position in shares of GeneDx during the second quarter worth about $50,000. PFG Investments LLC purchased a new position in shares of GeneDx during the first quarter worth about $95,000. The Manufacturers Life Insurance Company purchased a new position in GeneDx in the 2nd quarter valued at $290,000. Finally, Algert Global LLC purchased a new stake in shares of GeneDx in the second quarter valued at about $356,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

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.