GeneDx (NASDAQ:WGS) Price Target Raised to $70.00 at The Goldman Sachs Group

GeneDx (NASDAQ:WGS - Free Report) had its target price lifted by The Goldman Sachs Group from $54.00 to $70.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also issued reports about the stock. Wells Fargo & Company boosted their price objective on shares of GeneDx from $34.00 to $75.00 and gave the company an "equal weight" rating in a report on Wednesday. Craig Hallum upped their price target on shares of GeneDx from $70.00 to $95.00 and gave the company a "buy" rating in a research report on Wednesday. BTIG Research raised their price objective on GeneDx from $35.00 to $45.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. Finally, TD Cowen lifted their target price on shares of GeneDx from $46.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Three equities research 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, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $59.33.

GeneDx Stock Down 1.0 %

Shares of NASDAQ WGS traded down $0.82 during trading on Wednesday, reaching $83.20. The company had a trading volume of 1,407,135 shares, compared to its average volume of 436,500. The business's 50-day moving average is $45.65 and its 200 day moving average is $32.42. The company has a quick ratio of 2.22, a current ratio of 2.38 and a debt-to-equity ratio of 0.27. The stock has a market cap of $2.17 billion, a PE ratio of -16.06 and a beta of 2.32. GeneDx has a 12-month low of $1.16 and a 12-month high of $89.11.

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

Insider Buying and Selling at GeneDx

In other GeneDx news, major shareholder Opko Health, Inc. sold 12,994 shares of the company's stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $29.35, for a total value of $381,373.90. Following the sale, the insider now owns 2,971,570 shares in the company, valued at approximately $87,215,579.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other GeneDx news, major shareholder Opko Health, Inc. sold 12,994 shares of the firm's stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $29.35, for a total value of $381,373.90. Following the sale, the insider now directly owns 2,971,570 shares of the company's stock, valued at approximately $87,215,579.50. This trade represents a 0.00 % 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 hyperlink. Also, CEO Katherine Stueland sold 3,639 shares of the company's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $33.33, for a total transaction of $121,287.87. Following the transaction, the chief executive officer now owns 95,457 shares of the company's stock, valued at $3,181,581.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 267,401 shares of company stock worth $8,794,447. 28.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On GeneDx

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new position in GeneDx in the 2nd quarter valued at about $34,000. nVerses Capital LLC purchased a new position in GeneDx in the 2nd quarter valued at approximately $50,000. CWM LLC acquired a new position in GeneDx during the 3rd quarter worth $89,000. SG Americas Securities LLC acquired a new position in shares of GeneDx during the third quarter worth about $198,000. Finally, Thompson Davis & CO. Inc. increased its position in shares of GeneDx by 20.8% in the 1st quarter. Thompson Davis & CO. Inc. now owns 24,094 shares of the company's stock valued at $220,000 after purchasing an additional 4,150 shares during the last quarter. 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.