Craig Hallum Raises GeneDx (NASDAQ:WGS) Price Target to $95.00

GeneDx (NASDAQ:WGS) had its price target boosted by stock analysts at Craig Hallum from $70.00 to $95.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Craig Hallum’s target price would suggest a potential upside of 16.29% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on WGS. Wells Fargo & Company began coverage on GeneDx in a report on Tuesday, August 27th. They set an “equal weight” rating and a $34.00 price objective for the company. The Goldman Sachs Group boosted their price objective on GeneDx from $32.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. BTIG Research boosted their price objective on GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, TD Cowen boosted their price objective on GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.33.

GeneDx Price Performance

Shares of NASDAQ WGS opened at $81.69 on Wednesday. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of -26.27 and a beta of 2.32. The business has a 50-day moving average of $46.60 and a 200-day moving average of $32.76. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.38 and a quick ratio of 2.22. GeneDx has a fifty-two week low of $1.16 and a fifty-two week high of $89.11.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings results on Tuesday, July 30th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $70.51 million during the quarter, compared to analysts’ expectations of $58.90 million. As a group, sell-side analysts predict that GeneDx will post -0.75 earnings per share for the current fiscal year.

Insider Transactions at GeneDx

In other news, major shareholder Opko Health, Inc. sold 12,994 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $29.35, for a total transaction of $381,373.90. Following the completion of the transaction, the insider now directly owns 2,971,570 shares in the company, valued at approximately $87,215,579.50. This represents 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 the SEC website. In related news, major shareholder Opko Health, Inc. sold 12,994 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were 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 of the company’s stock, valued at $87,215,579.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 completion of the sale, the chief executive officer now directly owns 95,457 shares in the company, valued at approximately $3,181,581.81. This represents a 0.00 % decrease in their position. 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. Corporate insiders own 27.30% of the company’s stock.

Institutional Trading of GeneDx

A number of institutional investors have recently bought and sold shares of WGS. Acadian Asset Management LLC bought a new stake in GeneDx during the second quarter valued at $34,000. nVerses Capital LLC bought a new stake in GeneDx during the second quarter valued at $50,000. CWM LLC bought a new stake in GeneDx during the third quarter valued at $89,000. SG Americas Securities LLC bought a new stake in GeneDx during the third quarter valued at $198,000. Finally, Thompson Davis & CO. Inc. raised its holdings in shares of GeneDx by 20.8% during the first 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 period. Institutional investors 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.