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

GeneDx (NASDAQ:WGS) had its price target increased by BTIG Research from $19.00 to $35.00 in a report published on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also recently weighed in on WGS. The Goldman Sachs Group lifted their target price on GeneDx to $11.00 and gave the company a neutral rating in a report on Monday, April 15th. Jefferies Financial Group assumed coverage on GeneDx in a report on Monday, June 3rd. They issued a hold rating and a $21.00 target price on the stock. Finally, TD Cowen lifted their target price on GeneDx from $14.00 to $24.00 and gave the company a buy rating in a report on Tuesday, April 30th.

GeneDx Trading Down 1.9 %

Shares of GeneDx stock opened at $26.14 on Wednesday. GeneDx has a fifty-two week low of $1.16 and a fifty-two week high of $29.11. The firm has a market cap of $682.83 million, a PE ratio of -5.05 and a beta of 2.21. The business’s fifty day moving average is $21.87 and its two-hundred day moving average is $11.55. The company has a quick ratio of 2.99, a current ratio of 3.22 and a debt-to-equity ratio of 0.25.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings results on Monday, April 29th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.35. GeneDx had a negative return on equity of 36.23% and a negative net margin of 60.86%. The company had revenue of $62.42 million for the quarter, compared to analyst estimates of $49.80 million. Analysts anticipate that GeneDx will post -0.92 earnings per share for the current year.

Insiders Place Their Bets

In other GeneDx news, CEO Katherine Stueland sold 6,325 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $11.04, for a total transaction of $69,828.00. Following the transaction, the chief executive officer now owns 75,869 shares in the company, valued at $837,593.76. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Kevin Feeley sold 2,646 shares of GeneDx stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $28.31, for a total transaction of $74,908.26. Following the sale, the chief financial officer now directly owns 37,409 shares of the company’s stock, valued at $1,059,048.79. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Katherine Stueland sold 6,325 shares of GeneDx stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $11.04, for a total value of $69,828.00. Following the sale, the chief executive officer now directly owns 75,869 shares in the company, valued at $837,593.76. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 175,804 shares of company stock worth $3,771,670 and have sold 21,305 shares worth $462,821. 28.10% of the stock is currently owned by insiders.

Institutional Trading of GeneDx

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Thompson Davis & CO. Inc. increased its position in shares of GeneDx by 20.8% during the first quarter. Thompson Davis & CO. Inc. now owns 24,094 shares of the company’s stock worth $220,000 after acquiring an additional 4,150 shares during the last quarter. PFG Investments LLC bought a new stake in GeneDx in the first quarter valued at about $95,000. Vanguard Group Inc. increased its holdings in GeneDx by 4.2% in the first quarter. Vanguard Group Inc. now owns 707,612 shares of the company’s stock valued at $6,460,000 after buying an additional 28,678 shares during the last quarter. HighTower Advisors LLC increased its holdings in GeneDx by 14.1% in the third quarter. HighTower Advisors LLC now owns 237,948 shares of the company’s stock valued at $865,000 after buying an additional 29,361 shares during the last quarter. Finally, Gagnon Advisors LLC increased its holdings in GeneDx by 41.6% in the first quarter. Gagnon Advisors LLC now owns 211,393 shares of the company’s stock valued at $1,930,000 after buying an additional 62,059 shares during the last quarter. 61.72% of the stock is owned by hedge funds and other institutional investors.

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.