The Goldman Sachs Group Increases GeneDx (NASDAQ:WGS) Price Target to $54.00

GeneDx (NASDAQ:WGS) had its target price raised by research analysts at The Goldman Sachs Group from $32.00 to $54.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective points to a potential downside of 3.57% from the stock’s current price.

Several other equities analysts also recently weighed in on the company. Wells Fargo & Company initiated coverage on GeneDx in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $34.00 price objective for the company. TD Cowen lifted their price target on GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. BTIG Research boosted their price objective on shares of GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Craig Hallum raised their target price on shares of GeneDx from $43.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Three equities 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, GeneDx currently has a consensus rating of “Moderate Buy” and an average target price of $41.67.

GeneDx Trading Down 7.9 %

NASDAQ:WGS opened at $56.00 on Wednesday. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of -10.81 and a beta of 2.32. GeneDx has a 1 year low of $1.16 and a 1 year high of $61.96. The stock has a fifty day moving average price of $40.30 and a two-hundred day moving average price of $28.91. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.22 and a current ratio of 2.38.

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

Insider Buying and Selling

In other news, major shareholder Opko Health, Inc. sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $31.82, for a total value of $3,182,000.00. Following the completion of the transaction, the insider now owns 2,871,570 shares of the company’s stock, valued at $91,373,357.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, major shareholder Opko Health, Inc. sold 100,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $31.82, for a total transaction of $3,182,000.00. Following the sale, the insider now owns 2,871,570 shares in the company, valued at $91,373,357.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Katherine Stueland sold 2,154 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $33.54, for a total value of $72,245.16. Following the completion of the transaction, the chief executive officer now owns 92,550 shares of the company’s stock, valued at $3,104,127. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 593,668 shares of company stock worth $19,735,488. 28.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On GeneDx

Several hedge funds have recently modified their holdings of WGS. Acadian Asset Management LLC acquired a new position in GeneDx during the second quarter worth approximately $34,000. nVerses Capital LLC purchased a new stake in shares of GeneDx during the 2nd quarter valued at $50,000. CWM LLC acquired a new stake in shares of GeneDx during the 3rd quarter worth $89,000. SG Americas Securities LLC purchased a new position in shares of GeneDx in the 3rd quarter worth $198,000. Finally, Thompson Davis & CO. Inc. boosted its holdings in GeneDx by 20.8% in the first quarter. Thompson Davis & CO. Inc. now owns 24,094 shares of the company’s stock valued at $220,000 after acquiring an additional 4,150 shares during the last quarter. 61.72% of the stock is owned by institutional investors and hedge funds.

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.