TD Cowen Forecasts Strong Price Appreciation for GeneDx (NASDAQ:WGS) Stock

GeneDx (NASDAQ:WGS) had its price target upped by equities researchers at TD Cowen from $75.00 to $118.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price target would suggest a potential upside of 31.49% from the company’s current price.

Several other equities analysts have also recently weighed in on WGS. Wells Fargo & Company increased their price objective on shares of GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Craig Hallum lifted their target price on GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group upped their price target on GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $70.67.

GeneDx Stock Up 0.1 %

Shares of NASDAQ:WGS traded up $0.13 during trading on Tuesday, hitting $89.74. The stock had a trading volume of 803,706 shares, compared to its average volume of 803,961. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25. GeneDx has a 12 month low of $2.80 and a 12 month high of $96.97. The company has a market capitalization of $2.47 billion, a PE ratio of -28.86 and a beta of 2.02. The firm’s fifty day moving average is $76.95 and its 200 day moving average is $51.66.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.25. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. The firm had revenue of $76.90 million for the quarter, compared to analysts’ expectations of $64.98 million. During the same period in the previous year, the firm posted ($0.82) EPS. The business’s revenue for the quarter was up 44.3% compared to the same quarter last year. Analysts anticipate that GeneDx will post -0.24 EPS for the current fiscal year.

Insider Transactions at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 18,006 shares of GeneDx stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $78.18, for a total value of $1,407,709.08. Following the sale, the chief executive officer now owns 53,140 shares of the company’s stock, valued at $4,154,485.20. The trade was a 25.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $75.00, for a total transaction of $64,935,000.00. Following the sale, the insider now directly owns 2,866,833 shares in the company, valued at approximately $215,012,475. The trade was a 23.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,143,039 shares of company stock valued at $84,816,828. 27.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of WGS. Acadian Asset Management LLC purchased a new position in shares of GeneDx in the 2nd quarter valued at approximately $34,000. CWM LLC acquired a new stake in GeneDx during the 3rd quarter worth about $89,000. Verition Fund Management LLC grew its stake in GeneDx by 12.9% during the 3rd quarter. Verition Fund Management LLC now owns 25,845 shares of the company’s stock valued at $1,097,000 after purchasing an additional 2,945 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of GeneDx by 36.1% in the second quarter. American Century Companies Inc. now owns 17,258 shares of the company’s stock valued at $451,000 after purchasing an additional 4,573 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in GeneDx during the 3rd quarter valued at approximately $198,000. 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.