Wells Fargo & Company Issues Positive Forecast for GeneDx (NASDAQ:WGS) Stock Price

GeneDx (NASDAQ:WGS) had its target price hoisted by Wells Fargo & Company from $95.00 to $140.00 in a research note released on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other equities analysts have also issued reports on the company. Zacks Research lowered GeneDx from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 2nd. Piper Sandler upped their target price on GeneDx from $120.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. Wall Street Zen lowered GeneDx from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of GeneDx in a research report on Wednesday, October 8th. Finally, BTIG Research boosted their price target on GeneDx from $140.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.22.

GeneDx Stock Performance

Shares of WGS opened at $139.49 on Tuesday. The business’s 50 day moving average is $124.86 and its two-hundred day moving average is $99.60. GeneDx has a 52-week low of $55.17 and a 52-week high of $146.00. The firm has a market cap of $4.01 billion, a price-to-earnings ratio of 1,549.89 and a beta of 2.01. The company has a quick ratio of 2.59, a current ratio of 2.71 and a debt-to-equity ratio of 0.18.

GeneDx (NASDAQ:WGS) last announced its earnings results on Tuesday, October 28th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.21. GeneDx had a return on equity of 20.22% and a net margin of 0.52%.The company had revenue of $116.74 million for the quarter, compared to analyst estimates of $104.33 million. GeneDx has set its FY 2025 guidance at EPS. Analysts forecast that GeneDx will post 0.97 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Katherine Stueland sold 2,158 shares of the firm’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $136.54, for a total transaction of $294,653.32. Following the transaction, the chief executive officer directly owned 3,436 shares of the company’s stock, valued at approximately $469,151.44. This trade represents a 38.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin Feeley sold 388 shares of the firm’s stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $136.54, for a total value of $52,977.52. Following the transaction, the chief financial officer directly owned 3,757 shares in the company, valued at $512,980.78. This trade represents a 9.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 556,375 shares of company stock valued at $67,569,247 over the last three months. Corporate insiders own 29.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of WGS. T. Rowe Price Investment Management Inc. acquired a new position in GeneDx during the first quarter worth about $44,614,000. William Blair Investment Management LLC raised its position in shares of GeneDx by 37.2% during the second quarter. William Blair Investment Management LLC now owns 1,631,402 shares of the company’s stock worth $150,595,000 after purchasing an additional 442,414 shares during the period. Alliancebernstein L.P. raised its position in shares of GeneDx by 3,054.5% during the first quarter. Alliancebernstein L.P. now owns 436,900 shares of the company’s stock worth $38,694,000 after purchasing an additional 423,050 shares during the period. Jennison Associates LLC raised its position in shares of GeneDx by 6,163.1% during the second quarter. Jennison Associates LLC now owns 397,896 shares of the company’s stock worth $36,730,000 after purchasing an additional 391,543 shares during the period. Finally, Westfield Capital Management Co. LP increased its stake in GeneDx by 164.8% in the 2nd quarter. Westfield Capital Management Co. LP now owns 589,188 shares of the company’s stock worth $54,388,000 after purchasing an additional 366,711 shares in the last quarter. 61.72% of the stock is owned by institutional investors and hedge funds.

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.