GeneDx (NASDAQ:WGS) Price Target Raised to $80.00 at The Goldman Sachs Group

GeneDx (NASDAQ:WGS - Get Free Report) had its price objective lifted by equities research analysts at The Goldman Sachs Group from $70.00 to $80.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. The Goldman Sachs Group's price objective would indicate a potential downside of 16.52% from the company's current price.

A number of other brokerages have also commented on WGS. Wells Fargo & Company increased their price objective on GeneDx from $34.00 to $75.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. TD Cowen increased their price objective on GeneDx from $75.00 to $118.00 and gave the company a "buy" rating in a report on Tuesday, January 7th. Finally, Craig Hallum raised their target price on GeneDx from $70.00 to $95.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, GeneDx presently has a consensus rating of "Moderate Buy" and an average target price of $72.33.

GeneDx Stock Down 5.7 %

WGS stock traded down $5.75 during mid-day trading on Wednesday, hitting $95.83. The stock had a trading volume of 1,128,309 shares, compared to its average volume of 1,246,548. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. GeneDx has a 1-year low of $6.79 and a 1-year high of $115.60. The company has a fifty day moving average of $78.64 and a 200 day moving average of $62.41. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of -48.89 and a beta of 2.01.

GeneDx (NASDAQ:WGS - Get Free Report) last issued its earnings results on Tuesday, February 18th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.66. The company had revenue of $95.64 million for the quarter, compared to analyst estimates of $82.24 million. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. On average, equities analysts expect that GeneDx will post 0.52 EPS for the current fiscal year.

Insider Activity

In other news, CFO Kevin Feeley sold 1,137 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $76.37, for a total transaction of $86,832.69. Following the transaction, the chief financial officer now owns 24,731 shares in the company, valued at approximately $1,888,706.47. This trade represents a 4.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Katherine Stueland sold 1,657 shares of the firm's stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $78.48, for a total value of $130,041.36. Following the transaction, the chief executive officer now owns 3,937 shares in the company, valued at approximately $308,975.76. This trade represents a 29.62 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,584 shares of company stock valued at $11,336,520. Company insiders own 27.30% of the company's stock.

Hedge Funds Weigh In On GeneDx

Hedge funds have recently added to or reduced their stakes in the stock. MCF Advisors LLC boosted its holdings in shares of GeneDx by 107.7% during the 4th quarter. MCF Advisors LLC now owns 351 shares of the company's stock valued at $27,000 after acquiring an additional 182 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in GeneDx by 877.8% during the 4th quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock worth $27,000 after buying an additional 316 shares during the period. Global Retirement Partners LLC acquired a new position in GeneDx during the 4th quarter worth about $28,000. Lazard Asset Management LLC acquired a new position in GeneDx during the 4th quarter worth about $35,000. Finally, Comerica Bank acquired a new position in GeneDx during the 4th quarter worth about $50,000. 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.