GeneDx (NASDAQ:WGS) Given New $70.00 Price Target at The Goldman Sachs Group

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

A number of other equities research analysts have also recently commented on WGS. BTIG Research raised their price objective on shares of GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. TD Cowen raised 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. Wells Fargo & Company upped their price objective on shares of GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, Craig Hallum raised their target price on GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.33.

GeneDx Stock Down 4.8 %

Shares of WGS stock opened at $77.74 on Wednesday. GeneDx has a fifty-two week low of $1.16 and a fifty-two week high of $89.11. The firm has a market capitalization of $2.09 billion, a PE ratio of -25.00 and a beta of 2.32. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.22 and a current ratio of 2.40. The stock’s 50-day simple moving average is $47.44 and its 200-day simple moving average is $33.23.

GeneDx (NASDAQ:WGS) last posted its earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.25. The company had revenue of $76.90 million during the quarter, compared to the consensus estimate of $64.98 million. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The firm’s quarterly revenue was up 44.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.82) earnings per share. Equities analysts expect that GeneDx will post -0.75 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Katherine Stueland sold 3,639 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $33.33, for a total transaction of $121,287.87. Following the transaction, the chief executive officer now directly owns 95,457 shares in the company, valued at approximately $3,181,581.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other GeneDx news, CEO Katherine Stueland sold 3,639 shares of the business’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 approximately $3,181,581.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Opko Health, Inc. sold 12,994 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 2,971,570 shares of the company’s stock, valued at $87,215,579.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 269,829 shares of company stock worth $8,956,152. 27.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GeneDx

A number of hedge funds have recently modified their holdings of WGS. Renaissance Technologies LLC acquired a new position in GeneDx during the second quarter worth $2,362,000. Millennium Management LLC lifted its stake 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 acquiring an additional 205,318 shares in the last quarter. Algert Global LLC purchased a new position in GeneDx during the 2nd quarter valued at about $356,000. Calamos Advisors LLC acquired a new position in GeneDx in the 2nd quarter valued at about $1,137,000. Finally, Point72 Asset Management L.P. increased its stake in GeneDx by 227.4% during the second 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 period. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

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.