Wells Fargo & Company Raises GeneDx (NASDAQ:WGS) Price Target to $75.00

GeneDx (NASDAQ:WGS) had its price target increased by stock analysts at Wells Fargo & Company from $34.00 to $75.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential downside of 8.19% from the stock’s current price.

A number of other analysts have also recently issued reports on WGS. BTIG Research increased 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 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. The Goldman Sachs Group raised their target price on shares of GeneDx from $32.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Finally, Craig Hallum raised their target price on shares of GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.33.

GeneDx Stock Performance

Shares of NASDAQ WGS opened at $81.69 on Wednesday. The firm has a fifty day moving average price of $46.60 and a 200-day moving average price 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. The stock has a market cap of $2.20 billion, a PE ratio of -26.27 and a beta of 2.32. GeneDx has a 1 year low of $1.16 and a 1 year high of $89.11.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Tuesday, July 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.15. The firm had revenue of $70.51 million during the quarter, compared to analysts’ expectations of $58.90 million. GeneDx had a negative net margin of 48.21% and a negative return on equity of 22.71%. Equities analysts anticipate that GeneDx will post -0.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other GeneDx news, CEO Katherine Stueland sold 3,639 shares of GeneDx stock in a transaction on Monday, September 9th. The shares were sold at an average price of $33.33, for a total value of $121,287.87. Following the completion of the transaction, the chief executive officer now directly owns 95,457 shares of the company’s stock, valued at $3,181,581.81. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Katherine Stueland sold 3,639 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $33.33, for a total value of $121,287.87. Following the completion of the sale, the chief executive officer now owns 95,457 shares in the company, valued at approximately $3,181,581.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin Feeley sold 895 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $33.33, for a total transaction of $29,830.35. Following the completion of the sale, the chief financial officer now owns 39,910 shares of the company’s stock, valued at $1,330,200.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 269,829 shares of company stock valued at $8,956,152 in the last three months. Corporate insiders own 27.30% of the company’s stock.

Institutional Investors Weigh In On GeneDx

Institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC bought a new stake in GeneDx during the 2nd quarter valued at about $34,000. nVerses Capital LLC bought a new stake in GeneDx during the 2nd quarter valued at about $50,000. CWM LLC bought a new stake in GeneDx during the 3rd quarter valued at about $89,000. SG Americas Securities LLC bought a new stake in GeneDx during the 3rd quarter valued at about $198,000. Finally, Palumbo Wealth Management LLC bought a new stake in GeneDx during the 3rd quarter valued at about $287,000. 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.