GeneDx (NASDAQ:WGS) Price Target Raised to $95.00

GeneDx (NASDAQ:WGS) had its price objective increased by Wells Fargo & Company from $78.00 to $95.00 in a report released on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other research firms have also recently commented on WGS. Jefferies Financial Group raised GeneDx from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research note on Friday, May 9th. Piper Sandler started coverage on GeneDx in a research note on Wednesday, July 9th. They set an “overweight” rating and a $110.00 target price for the company. TD Securities lowered their target price on GeneDx from $135.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Guggenheim reissued a “buy” rating and set a $115.00 target price (up from $88.00) on shares of GeneDx in a research note on Monday, June 30th. Finally, Wall Street Zen cut GeneDx from a “buy” rating to a “hold” rating in a research report on Sunday, July 13th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.38.

GeneDx Trading Down 0.3%

WGS opened at $101.60 on Wednesday. GeneDx has a 12 month low of $25.32 and a 12 month high of $117.75. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of 2,032.00 and a beta of 2.01. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.87 and a quick ratio of 3.07. The business has a fifty day moving average price of $80.02 and a 200 day moving average price of $82.96.

GeneDx (NASDAQ:WGS) last released its earnings results on Tuesday, July 29th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.10 by $0.40. GeneDx had a return on equity of 16.51% and a net margin of 0.39%. The firm had revenue of $102.69 million during the quarter, compared to analysts’ expectations of $86.00 million. Sell-side analysts expect that GeneDx will post 0.97 earnings per share for the current fiscal year.

Insider Transactions at GeneDx

In other news, CFO Kevin Feeley sold 5,278 shares of the company’s stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $93.00, for a total transaction of $490,854.00. Following the completion of the transaction, the chief financial officer directly owned 3,392 shares of the company’s stock, valued at approximately $315,456. This represents a 60.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Keith A. Meister acquired 100,000 shares of the stock in a transaction dated Thursday, May 8th. The shares were acquired at an average cost of $56.01 per share, with a total value of $5,601,000.00. Following the completion of the transaction, the director owned 3,008,629 shares in the company, valued at approximately $168,513,310.29. This represents a 3.44% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 22,411 shares of company stock valued at $2,085,051. 29.60% of the stock is currently owned by corporate insiders.

Institutional Trading of GeneDx

Several institutional investors and hedge funds have recently made changes to their positions in the company. Jennison Associates LLC lifted its holdings in shares of GeneDx by 6,163.1% in the 2nd quarter. Jennison Associates LLC now owns 397,896 shares of the company’s stock valued at $36,730,000 after purchasing an additional 391,543 shares during the last quarter. Peregrine Capital Management LLC purchased a new stake in shares of GeneDx in the 2nd quarter valued at about $7,917,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of GeneDx in the 2nd quarter valued at about $589,000. Envestnet Asset Management Inc. lifted its holdings in shares of GeneDx by 63.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 14,942 shares of the company’s stock valued at $1,379,000 after purchasing an additional 5,823 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new stake in GeneDx during the 2nd quarter valued at approximately $236,000. 61.72% of the stock is owned by hedge funds and other 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.