Craig Hallum Boosts GeneDx (NASDAQ:WGS) Price Target to $70.00

GeneDx (NASDAQ:WGS - Get Free Report) had its price target raised by research analysts at Craig Hallum from $46.00 to $70.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a "buy" rating on the stock. Craig Hallum's price objective would indicate a potential upside of 18.46% from the stock's current price.

WGS has been the topic of a number of other reports. TD Cowen lifted their price objective on shares of GeneDx from $46.00 to $50.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. BTIG Research boosted their price objective 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. The Goldman Sachs Group increased their target price on GeneDx from $32.00 to $54.00 and gave the company a "neutral" rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company started coverage on shares of GeneDx in a research note on Tuesday, August 27th. They set an "equal weight" rating and a $34.00 target price for the company. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $45.67.

GeneDx Stock Performance

Shares of WGS traded up $3.01 during mid-day trading on Thursday, hitting $59.09. The company's stock had a trading volume of 347,036 shares, compared to its average volume of 416,972. The stock's 50-day moving average is $42.26 and its two-hundred day moving average is $30.40. GeneDx has a one year low of $1.16 and a one year high of $61.96. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.22 and a current ratio of 2.38. The firm has a market capitalization of $1.54 billion, a PE ratio of -11.34 and a beta of 2.32.

GeneDx (NASDAQ:WGS - Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.15. GeneDx had a negative return on equity of 22.71% and a negative net margin of 48.21%. The firm had revenue of $70.51 million during the quarter, compared to the consensus estimate of $58.90 million. As a group, sell-side analysts anticipate that GeneDx will post -0.75 EPS for the current year.

Insiders Place Their Bets

In other GeneDx news, major shareholder Opko Health, Inc. sold 50,000 shares of GeneDx stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $33.86, for a total value of $1,693,000.00. Following the transaction, the insider now owns 3,073,403 shares in the company, valued at $104,065,425.58. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Opko Health, Inc. sold 50,000 shares of GeneDx stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $33.86, for a total value of $1,693,000.00. Following the completion of the transaction, the insider now owns 3,073,403 shares in the company, valued at $104,065,425.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin Feeley sold 895 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 39,910 shares of the company's stock, valued at $1,330,200.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 468,668 shares of company stock valued at $15,575,988 over the last three months. 28.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in WGS. Renaissance Technologies LLC purchased a new stake in GeneDx during the 2nd quarter worth about $2,362,000. Millennium Management LLC increased its holdings in GeneDx by 193.5% during the 2nd quarter. Millennium Management LLC now owns 311,401 shares of the company's stock worth $8,140,000 after purchasing an additional 205,318 shares during the last quarter. Algert Global LLC bought a new position in shares of GeneDx during the second quarter worth about $356,000. Calamos Advisors LLC bought a new stake in GeneDx during the second quarter valued at $1,137,000. Finally, Point72 Asset Management L.P. lifted its holdings in shares of GeneDx by 227.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 156,745 shares of the company's stock worth $4,097,000 after purchasing an additional 108,864 shares during the last quarter. 61.72% of the stock is owned by institutional investors and hedge funds.

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.