GeneDx (NASDAQ:WGS) Given New $80.00 Price Target at The Goldman Sachs Group

GeneDx (NASDAQ:WGS) had its price objective increased by The Goldman Sachs Group from $70.00 to $80.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

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

GeneDx Stock Down 1.3 %

Shares of WGS opened at $111.31 on Wednesday. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. The firm has a market cap of $3.06 billion, a P/E ratio of -35.79 and a beta of 2.01. The company’s 50-day moving average price is $78.04 and its 200 day moving average price is $62.14. GeneDx has a 12-month low of $4.61 and a 12-month high of $115.60.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.04 by $0.66. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The firm had revenue of $95.64 million for the quarter, compared to analyst estimates of $82.24 million. On average, sell-side analysts forecast that GeneDx will post -0.24 earnings per share for the current year.

Insider Transactions at GeneDx

In related news, CEO Katherine Stueland sold 51,420 shares of the business’s 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 owns 1,720 shares in the company, valued at $162,505.60. The trade was a 96.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin Feeley sold 3,728 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $76.75, for a total transaction of $286,124.00. Following the completion of the transaction, the chief financial officer now owns 28,200 shares in the company, valued at $2,164,350. This represents a 11.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 127,584 shares of company stock valued at $11,336,520. Insiders own 27.30% of the company’s stock.

Hedge Funds Weigh In On GeneDx

A number of hedge funds have recently modified their holdings of WGS. MCF Advisors LLC grew its position in GeneDx by 107.7% during the 4th quarter. MCF Advisors LLC now owns 351 shares of the company’s stock worth $27,000 after purchasing an additional 182 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in shares of GeneDx by 877.8% in the 4th quarter. Sterling Capital Management LLC now owns 352 shares of the company’s stock valued at $27,000 after buying an additional 316 shares during the period. Global Retirement Partners LLC purchased a new stake in shares of GeneDx in the fourth quarter valued at approximately $28,000. Lazard Asset Management LLC acquired a new position in GeneDx during the fourth quarter worth $35,000. Finally, Comerica Bank purchased a new position in GeneDx in the fourth quarter worth $50,000. 61.72% of the stock is currently 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.