GeneDx (NASDAQ:WGS) Price Target Raised to $35.00 at BTIG Research

GeneDx (NASDAQ:WGS) had its price target raised by BTIG Research from $19.00 to $35.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts also recently commented on WGS. TD Cowen upped their target price on shares of GeneDx from $14.00 to $24.00 and gave the stock a buy rating in a research note on Tuesday, April 30th. The Goldman Sachs Group increased their price objective on shares of GeneDx to $11.00 and gave the company a neutral rating in a research note on Monday, April 15th. Finally, Jefferies Financial Group started coverage on shares of GeneDx in a research report on Monday, June 3rd. They set a hold rating and a $21.00 target price for the company.

GeneDx Stock Performance

Shares of NASDAQ:WGS opened at $26.19 on Wednesday. The company has a market capitalization of $684.08 million, a price-to-earnings ratio of -5.06 and a beta of 2.21. GeneDx has a 12 month low of $1.16 and a 12 month high of $29.11. The firm’s 50-day moving average is $21.20 and its 200 day moving average is $11.28. The company has a current ratio of 3.22, a quick ratio of 2.99 and a debt-to-equity ratio of 0.25.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings results on Monday, April 29th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.35. The company had revenue of $62.42 million for the quarter, compared to the consensus estimate of $49.80 million. GeneDx had a negative net margin of 60.86% and a negative return on equity of 36.23%. Research analysts predict that GeneDx will post -0.92 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Kevin Feeley sold 2,646 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of $28.31, for a total value of $74,908.26. Following the sale, the chief financial officer now owns 37,409 shares in the company, valued at $1,059,048.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Kevin Feeley sold 2,646 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of $28.31, for a total value of $74,908.26. Following the sale, the chief financial officer now owns 37,409 shares in the company, valued at $1,059,048.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Katherine Stueland sold 6,325 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $11.04, for a total transaction of $69,828.00. Following the completion of the sale, the chief executive officer now owns 75,869 shares in the company, valued at approximately $837,593.76. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 175,804 shares of company stock valued at $3,771,670 and sold 21,305 shares valued at $462,821. Corporate insiders own 28.10% of the company’s stock.

Institutional Trading of GeneDx

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WGS. Oracle Investment Management Inc. grew its position in shares of GeneDx by 531.7% in the first quarter. Oracle Investment Management Inc. now owns 1,126,607 shares of the company’s stock valued at $10,286,000 after purchasing an additional 948,253 shares during the period. Vanguard Group Inc. grew its position in shares of GeneDx by 4.2% in the first quarter. Vanguard Group Inc. now owns 707,612 shares of the company’s stock valued at $6,460,000 after purchasing an additional 28,678 shares during the period. Gagnon Securities LLC grew its position in shares of GeneDx by 59.3% in the first quarter. Gagnon Securities LLC now owns 556,305 shares of the company’s stock valued at $5,079,000 after purchasing an additional 207,027 shares during the period. HighTower Advisors LLC grew its position in shares of GeneDx by 14.1% in the third quarter. HighTower Advisors LLC now owns 237,948 shares of the company’s stock valued at $865,000 after purchasing an additional 29,361 shares during the period. Finally, Gagnon Advisors LLC lifted its stake in shares of GeneDx by 41.6% in the first quarter. Gagnon Advisors LLC now owns 211,393 shares of the company’s stock worth $1,930,000 after buying an additional 62,059 shares in the last quarter. Institutional investors and hedge funds own 61.72% of the company’s stock.

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.