GeneDx (NASDAQ:WGS – Get Free Report) had its price objective upped by research analysts at TD Cowen from $75.00 to $118.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s price target indicates a potential upside of 22.19% from the stock’s current price.
Other equities analysts also recently issued research reports about the stock. Craig Hallum boosted their price objective on shares of GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group boosted their price target on GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company raised their price objective on GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $70.67.
Check Out Our Latest Analysis on WGS
GeneDx Stock Down 0.5 %
GeneDx (NASDAQ:WGS – Get Free Report) last issued its earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.25. The business had revenue of $76.90 million during the quarter, compared to analysts’ expectations of $64.98 million. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. The business’s revenue for the quarter was up 44.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.82) EPS. Sell-side analysts predict that GeneDx will post -0.24 EPS for the current year.
Insider Activity
In other GeneDx news, CFO Kevin Feeley sold 1,137 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $76.37, for a total transaction of $86,832.69. Following the sale, the chief financial officer now owns 24,731 shares of the company’s stock, valued at approximately $1,888,706.47. The trade was a 4.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Katherine Stueland sold 2,154 shares of GeneDx stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $66.60, for a total transaction of $143,456.40. Following the sale, the chief executive officer now owns 105,426 shares of the company’s stock, valued at $7,021,371.60. The trade was a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,143,039 shares of company stock worth $84,816,828. Insiders own 27.30% of the company’s stock.
Institutional Trading of GeneDx
Several large investors have recently made changes to their positions in the business. Driehaus Capital Management LLC acquired a new stake in GeneDx during the second quarter worth about $11,335,000. Fred Alger Management LLC acquired a new stake in shares of GeneDx during the 3rd quarter worth approximately $16,731,000. Divisadero Street Capital Management LP purchased a new position in shares of GeneDx during the 2nd quarter valued at approximately $5,886,000. Millennium Management LLC lifted its stake in shares of GeneDx by 193.5% in the 2nd quarter. Millennium Management LLC now owns 311,401 shares of the company’s stock valued at $8,140,000 after purchasing an additional 205,318 shares during the period. Finally, Raymond James & Associates purchased a new stake in GeneDx during the third quarter worth $8,090,000. 61.72% of the stock is owned by hedge funds and other institutional investors.
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.
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