The Goldman Sachs Group Forecasts Strong Price Appreciation for GeneDx (NASDAQ:WGS) Stock

GeneDx (NASDAQ:WGS) had its price target boosted by equities research analysts at The Goldman Sachs Group from $70.00 to $80.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential downside of 21.24% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Wells Fargo & Company raised their price objective on shares of GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. TD Cowen raised their price objective on shares of GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Finally, Craig Hallum raised their price objective on shares of GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.33.

GeneDx Stock Performance

Shares of WGS opened at $101.58 on Wednesday. The firm has a 50-day moving average price of $78.64 and a 200 day moving average price of $62.41. The firm has a market capitalization of $2.79 billion, a PE ratio of -51.83 and a beta of 2.01. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25. GeneDx has a 52-week low of $4.61 and a 52-week high of $115.60.

GeneDx (NASDAQ:WGS) last announced its earnings results on Tuesday, February 18th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.66. The firm had revenue of $95.64 million during the quarter, compared to analyst estimates of $82.24 million. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. On average, sell-side analysts anticipate that GeneDx will post 0.52 earnings per share for the current fiscal year.

Insider Buying and Selling at GeneDx

In other GeneDx news, CFO Kevin Feeley sold 35,506 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $93.82, for a total transaction of $3,331,172.92. Following the completion of the sale, the chief financial officer now directly owns 2,472 shares of the company’s stock, valued at approximately $231,923.04. This represents a 93.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Katherine Stueland sold 51,420 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $94.48, for a total transaction of $4,858,161.60. Following the completion of the sale, the chief executive officer now directly owns 1,720 shares of the company’s stock, valued at $162,505.60. This trade represents a 96.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 127,584 shares of company stock valued at $11,336,520. 27.30% of the stock is currently owned by corporate insiders.

Institutional Trading of GeneDx

Hedge funds have recently made changes to their positions in the stock. MCF Advisors LLC lifted its position in shares of GeneDx by 107.7% in the fourth quarter. MCF Advisors LLC now owns 351 shares of the company’s stock worth $27,000 after purchasing an additional 182 shares in the last quarter. Sterling Capital Management LLC lifted its position in shares of GeneDx by 877.8% in the fourth quarter. Sterling Capital Management LLC now owns 352 shares of the company’s stock worth $27,000 after purchasing an additional 316 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in shares of GeneDx in the fourth quarter worth approximately $28,000. Lazard Asset Management LLC purchased a new stake in shares of GeneDx in the fourth quarter worth approximately $35,000. Finally, Comerica Bank purchased a new stake in shares of GeneDx in the fourth quarter worth approximately $50,000. 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.