The Goldman Sachs Group Raises GeneDx (NASDAQ:WGS) Price Target to $32.00

GeneDx (NASDAQ:WGS) had its target price increased by investment analysts at The Goldman Sachs Group from $28.00 to $32.00 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 target suggests a potential upside of 2.76% from the stock’s current price.

Several other equities research analysts have also recently commented on WGS. TD Cowen boosted their target price on GeneDx from $14.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Craig Hallum assumed coverage on GeneDx in a research note on Wednesday, July 10th. They issued a “buy” rating and a $43.00 target price on the stock. Jefferies Financial Group began coverage on GeneDx in a research note on Monday, June 3rd. They issued a “hold” rating and a $21.00 target price on the stock. Finally, BTIG Research boosted their price target on GeneDx from $19.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Two 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 currently has an average rating of “Moderate Buy” and an average target price of $31.00.

GeneDx Trading Up 3.4 %

WGS traded up $1.01 during midday trading on Wednesday, reaching $31.14. 589,916 shares of the company were exchanged, compared to its average volume of 395,692. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.99 and a current ratio of 3.22. GeneDx has a one year low of $1.16 and a one year high of $35.65. The stock has a market capitalization of $813.38 million, a P/E ratio of -6.01 and a beta of 2.29. The stock’s 50-day simple moving average is $27.74 and its 200 day simple moving average is $16.10.

GeneDx (NASDAQ:WGS) last released its quarterly earnings data on Monday, April 29th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.35. The business had revenue of $62.42 million for the quarter, compared to analysts’ expectations of $49.80 million. GeneDx had a negative return on equity of 36.23% and a negative net margin of 60.86%. As a group, analysts forecast that GeneDx will post -0.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Opko Health, Inc. sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $33.85, for a total transaction of $2,031,000.00. Following the transaction, the insider now directly owns 3,123,403 shares of the company’s stock, valued at approximately $105,727,191.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Opko Health, Inc. sold 60,000 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $33.85, for a total value of $2,031,000.00. Following the completion of the sale, the insider now directly owns 3,123,403 shares in the company, valued at approximately $105,727,191.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Casdin Capital, Llc purchased 100,000 shares of GeneDx stock in a transaction that occurred on Monday, June 3rd. The stock was purchased at an average price of $20.82 per share, with a total value of $2,082,000.00. Following the completion of the purchase, the director now directly owns 3,063,509 shares in the company, valued at $63,782,257.38. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 175,804 shares of company stock valued at $3,771,670 and have sold 349,076 shares valued at $10,950,812. 28.10% of the stock is owned by insiders.

Institutional Trading of GeneDx

A number of institutional investors have recently modified their holdings of WGS. Thompson Davis & CO. Inc. lifted its position in shares of GeneDx by 99.4% during the 4th quarter. Thompson Davis & CO. Inc. now owns 19,944 shares of the company’s stock valued at $55,000 after acquiring an additional 9,944 shares during the period. Decheng Capital LLC bought a new stake in shares of GeneDx during the 4th quarter valued at $285,000. PFG Investments LLC bought a new stake in shares of GeneDx during the 1st quarter valued at $95,000. Vanguard Group Inc. lifted its position in shares of GeneDx by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 707,612 shares of the company’s stock worth $6,460,000 after buying an additional 28,678 shares during the last quarter. Finally, Gagnon Advisors LLC lifted its position in shares of GeneDx by 41.6% during the 1st quarter. Gagnon Advisors LLC now owns 211,393 shares of the company’s stock worth $1,930,000 after buying an additional 62,059 shares during the last quarter. 61.72% of the stock is currently owned by institutional investors.

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.