GeneDx (NASDAQ:WGS) Given New $54.00 Price Target at The Goldman Sachs Group

GeneDx (NASDAQ:WGS) had its price objective raised by The Goldman Sachs Group from $32.00 to $54.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

Several other equities research analysts also recently weighed in on WGS. BTIG Research raised their price target on GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Craig Hallum boosted their target price on shares of GeneDx from $43.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. TD Cowen upped their price target on shares of GeneDx from $46.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company began coverage on shares of GeneDx in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $34.00 price objective for the company. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.67.

GeneDx Stock Up 1.3 %

Shares of GeneDx stock opened at $60.78 on Wednesday. GeneDx has a 52-week low of $1.16 and a 52-week high of $61.41. The firm’s 50 day moving average price is $39.84 and its 200-day moving average price is $28.72. 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 market cap of $1.59 billion, a P/E ratio of -11.73 and a beta of 2.32.

GeneDx (NASDAQ:WGS) last released its quarterly earnings results on Tuesday, July 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.15. GeneDx had a negative net margin of 48.21% and a negative return on equity of 22.71%. The business had revenue of $70.51 million for the quarter, compared to analyst estimates of $58.90 million. On average, sell-side analysts predict that GeneDx will post -0.75 EPS for the current fiscal year.

Insider Buying and Selling at GeneDx

In other news, CFO Kevin Feeley sold 895 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $33.33, for a total value of $29,830.35. Following the sale, the chief financial officer now owns 39,910 shares in the company, valued at $1,330,200.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Kevin Feeley sold 895 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $33.33, for a total value of $29,830.35. Following the completion of the transaction, the chief financial officer now owns 39,910 shares of the company’s stock, valued at $1,330,200.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Opko Health, Inc. sold 12,994 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $29.35, for a total value of $381,373.90. Following the sale, the insider now directly owns 2,971,570 shares in the company, valued at approximately $87,215,579.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 618,668 shares of company stock worth $20,542,738. Company insiders own 28.10% of the company’s stock.

Hedge Funds Weigh In On GeneDx

Several large investors have recently made changes to their positions in WGS. Acadian Asset Management LLC purchased a new position in GeneDx in the second quarter valued at $34,000. nVerses Capital LLC purchased a new position in shares of GeneDx in the 2nd quarter valued at about $50,000. CWM LLC purchased a new position in shares of GeneDx in the 3rd quarter valued at about $89,000. SG Americas Securities LLC purchased a new position in GeneDx during the third quarter worth approximately $198,000. Finally, Thompson Davis & CO. Inc. grew its holdings in GeneDx by 20.8% in the first quarter. Thompson Davis & CO. Inc. now owns 24,094 shares of the company’s stock valued at $220,000 after purchasing an additional 4,150 shares during the period. 61.72% of the stock is currently owned by institutional investors and hedge funds.

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.