The Goldman Sachs Group Boosts GeneDx (NASDAQ:WGS) Price Target to $54.00

GeneDx (NASDAQ:WGS - Get Free Report) had its price target hoisted by equities research analysts at The Goldman Sachs Group from $32.00 to $54.00 in a research 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 11.15% from the company's current price.

Several other equities research analysts have also recently issued reports on WGS. Craig Hallum raised 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. Wells Fargo & Company assumed coverage on shares of GeneDx in a research report on Tuesday, August 27th. They set an "equal weight" rating and a $34.00 price target on the stock. BTIG Research lifted their price target on shares of GeneDx from $35.00 to $45.00 and gave the company a "buy" rating in a research report on Wednesday, July 31st. Finally, TD Cowen lifted their price target on shares of GeneDx from $46.00 to $50.00 and gave the company a "buy" rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $41.67.

GeneDx Trading Up 1.3 %

Shares of GeneDx stock traded up $0.79 during mid-day trading on Wednesday, hitting $60.78. 474,075 shares of the stock were exchanged, compared to its average volume of 416,050. GeneDx has a twelve month low of $1.16 and a twelve month high of $61.41. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of -11.73 and a beta of 2.32. The company has a 50-day simple moving average of $39.84 and a 200 day simple moving average of $28.72. The company has a current ratio of 2.38, a quick ratio of 2.22 and a debt-to-equity ratio of 0.27.

GeneDx (NASDAQ:WGS - Get Free Report) last released its 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 analysts' expectations of $58.90 million. Research analysts forecast that GeneDx will post -0.75 EPS for the current year.

Insider Activity

In other news, major shareholder Opko Health, Inc. sold 100,000 shares of GeneDx stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $31.82, for a total transaction of $3,182,000.00. Following the sale, the insider now owns 2,871,570 shares in the company, valued at $91,373,357.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Kevin Feeley sold 895 shares of GeneDx 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 completion of the sale, the chief financial officer now owns 39,910 shares in the company, valued at approximately $1,330,200.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Opko Health, Inc. sold 100,000 shares of GeneDx stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $31.82, for a total transaction of $3,182,000.00. Following the completion of the sale, the insider now owns 2,871,570 shares of the company's stock, valued at approximately $91,373,357.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 618,668 shares of company stock worth $20,542,738 over the last 90 days. Company insiders own 28.10% of the company's stock.

Hedge Funds Weigh In On GeneDx

A number of hedge funds have recently added to or reduced their stakes in the business. CWM LLC acquired a new position in GeneDx in the third quarter worth $89,000. SG Americas Securities LLC acquired a new position in GeneDx in the third quarter worth $198,000. Point72 Asset Management L.P. boosted its holdings in shares of GeneDx by 227.4% during the second quarter. Point72 Asset Management L.P. now owns 156,745 shares of the company's stock valued at $4,097,000 after acquiring an additional 108,864 shares during the period. Algert Global LLC acquired a new position in shares of GeneDx during the second quarter valued at $356,000. Finally, Driehaus Capital Management LLC acquired a new position in shares of GeneDx during the second quarter valued at $11,335,000. Institutional investors and hedge funds 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.