GeneDx (NASDAQ:WGS) PT Raised to $54.00 at The Goldman Sachs Group

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

Other analysts have also issued reports about the company. Craig Hallum lifted their price target on GeneDx from $43.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. TD Cowen boosted their target price on shares of GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. BTIG Research raised their price target 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. Finally, Wells Fargo & Company started coverage on shares of GeneDx in a report on Tuesday, August 27th. They set an “equal weight” rating and a $34.00 price target on the stock. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $41.67.

GeneDx Stock Up 7.2 %

Shares of NASDAQ WGS opened at $60.05 on Wednesday. The stock has a 50-day moving average price of $40.84 and a two-hundred day moving average price of $29.40. GeneDx has a 12 month low of $1.16 and a 12 month high of $61.96. The company has a current ratio of 2.38, a quick ratio of 2.22 and a debt-to-equity ratio of 0.27. The company has a market cap of $1.57 billion, a price-to-earnings ratio of -11.59 and a beta of 2.32.

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

Insider Transactions at GeneDx

In other GeneDx news, major shareholder Opko Health, Inc. sold 50,000 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $32.61, for a total transaction of $1,630,500.00. Following the sale, the insider now owns 3,333,403 shares of the company’s stock, valued at approximately $108,702,271.83. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Kevin Feeley sold 895 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $33.33, for a total value of $29,830.35. Following the transaction, the chief financial officer now owns 39,910 shares in the company, valued at approximately $1,330,200.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Opko Health, Inc. sold 50,000 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $32.61, for a total value of $1,630,500.00. Following the completion of the sale, the insider now owns 3,333,403 shares in the company, valued at approximately $108,702,271.83. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 593,668 shares of company stock worth $19,735,488. Company insiders own 28.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC bought a new position in shares of GeneDx during the second quarter valued at about $34,000. nVerses Capital LLC purchased a new stake in shares of GeneDx during the second quarter valued at approximately $50,000. CWM LLC bought a new position in shares of GeneDx in the third quarter worth approximately $89,000. SG Americas Securities LLC bought a new stake in GeneDx during the 3rd quarter valued at $198,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in GeneDx during the 2nd quarter valued at $290,000. Hedge funds and other institutional investors 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.