BTIG Research Raises GeneDx (NASDAQ:WGS) Price Target to $45.00

GeneDx (NASDAQ:WGS) had its price target increased by BTIG Research from $35.00 to $45.00 in a research report released on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts also recently weighed in on WGS. Jefferies Financial Group assumed coverage on GeneDx in a research note on Monday, June 3rd. They issued a hold rating and a $21.00 price target for the company. The Goldman Sachs Group upped their price target on GeneDx from $28.00 to $32.00 and gave the stock a neutral rating in a research note on Wednesday. TD Cowen upped their price target on GeneDx from $14.00 to $24.00 and gave the stock a buy rating in a research note on Tuesday, April 30th. Finally, Craig Hallum upped their price target on GeneDx from $43.00 to $46.00 and gave the stock a buy rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, GeneDx has a consensus rating of Moderate Buy and an average target price of $38.80.

GeneDx Trading Down 6.8 %

Shares of NASDAQ:WGS opened at $30.07 on Wednesday. The stock has a 50 day moving average of $28.43 and a 200 day moving average of $16.51. The company has a market cap of $785.43 million, a PE ratio of -5.81 and a beta of 2.29. The company has a current ratio of 3.22, a quick ratio of 2.99 and a debt-to-equity ratio of 0.25. GeneDx has a 12-month low of $1.16 and a 12-month high of $35.65.

Insider Activity

In other news, major shareholder Opko Health, Inc. sold 50,000 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $33.86, for a total transaction of $1,693,000.00. Following the completion of the transaction, the insider now directly owns 3,073,403 shares in the company, valued at approximately $104,065,425.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Opko Health, Inc. sold 50,000 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $33.86, for a total transaction of $1,693,000.00. Following the completion of the transaction, the insider now directly owns 3,073,403 shares in the company, valued at approximately $104,065,425.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Katherine Stueland sold 2,154 shares of the 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 sale, the chief executive officer now owns 92,550 shares in the company, valued at approximately $3,104,127. The disclosure for this sale can be found here. In the last ninety days, insiders bought 175,804 shares of company stock worth $3,771,670 and sold 490,343 shares worth $15,701,354. Corporate insiders own 28.10% of the company’s stock.

Institutional Trading of GeneDx

Hedge funds and other institutional investors have recently bought and sold shares of the stock. nVerses Capital LLC purchased a new stake in GeneDx during the 2nd quarter valued at $50,000. Thompson Davis & CO. Inc. increased its stake in GeneDx by 99.4% in the fourth quarter. Thompson Davis & CO. Inc. now owns 19,944 shares of the company’s stock worth $55,000 after purchasing an additional 9,944 shares during the period. PFG Investments LLC purchased a new stake in GeneDx in the first quarter worth $95,000. Decheng Capital LLC purchased a new stake in GeneDx in the fourth quarter worth $285,000. Finally, Rhumbline Advisers increased its stake in GeneDx by 8,096.4% in the second quarter. Rhumbline Advisers now owns 18,360 shares of the company’s stock worth $480,000 after purchasing an additional 18,136 shares during the period. Hedge funds and other institutional investors own 61.72% of the company’s stock.

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.