TD Cowen Raises GeneDx (NASDAQ:WGS) Price Target to $24.00

GeneDx (NASDAQ:WGS) had its price objective hoisted by investment analysts at TD Cowen from $14.00 to $24.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s price objective suggests a potential upside of 14.72% from the company’s current price.

Other research analysts have also issued reports about the company. BTIG Research lifted their price objective on GeneDx from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday. The Goldman Sachs Group lifted their price target on GeneDx to $11.00 and gave the company a “neutral” rating in a research note on Monday, April 15th.

GeneDx Trading Up 22.6 %

Shares of WGS stock opened at $20.92 on Tuesday. The stock’s fifty day moving average price is $9.63 and its two-hundred day moving average price is $5.19. The company has a market cap of $545.05 million, a PE ratio of -4.04 and a beta of 2.75. GeneDx has a fifty-two week low of $1.16 and a fifty-two week high of $21.49. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.95 and a current ratio of 3.10.

GeneDx (NASDAQ:WGS) last issued its earnings results on Tuesday, February 20th. The company reported ($0.59) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.01. GeneDx had a negative return on equity of 34.40% and a negative net margin of 60.86%. The firm had revenue of $57.42 million for the quarter, compared to the consensus estimate of $57.00 million. Equities analysts predict that GeneDx will post -2.02 EPS for the current fiscal year.

Insider Transactions at GeneDx

In other GeneDx news, Director Casdin Capital, Llc bought 40,000 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were purchased at an average price of $8.74 per share, for a total transaction of $349,600.00. Following the purchase, the director now directly owns 2,702,609 shares of the company’s stock, valued at $23,620,802.66. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Katherine Stueland sold 8,559 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $10.59, for a total value of $90,639.81. Following the transaction, the chief executive officer now owns 66,698 shares in the company, valued at $706,331.82. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Casdin Capital, Llc bought 40,000 shares of the stock in a transaction on Monday, March 4th. The shares were acquired at an average cost of $8.74 per share, for a total transaction of $349,600.00. Following the acquisition, the director now directly owns 2,702,609 shares in the company, valued at $23,620,802.66. The disclosure for this purchase can be found here. Insiders have sold 21,249 shares of company stock worth $228,370 in the last 90 days. Insiders own 28.10% of the company’s stock.

Institutional Investors Weigh In On GeneDx

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. PFG Investments LLC bought a new stake in GeneDx during the 1st quarter valued at $95,000. Decheng Capital LLC bought a new stake in GeneDx during the 4th quarter valued at $285,000. Thompson Davis & CO. Inc. raised 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 valued at $55,000 after acquiring an additional 9,944 shares during the period. Oracle Investment Management Inc. raised its holdings in GeneDx by 14.9% during the 3rd quarter. Oracle Investment Management Inc. now owns 994,580 shares of the company’s stock valued at $3,620,000 after acquiring an additional 128,731 shares during the period. Finally, HighTower Advisors LLC raised its holdings in GeneDx by 14.1% during the 3rd quarter. HighTower Advisors LLC now owns 237,948 shares of the company’s stock valued at $865,000 after acquiring 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.