GeneDx (NASDAQ:WGS) Price Target Cut to $100.00 by Analysts at Guggenheim

GeneDx (NASDAQ:WGS) had its price target reduced by Guggenheim from $170.00 to $100.00 in a research report released on Monday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. Wall Street Zen cut shares of GeneDx from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Zacks Research raised shares of GeneDx from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 25th. BTIG Research lowered their price objective on GeneDx from $200.00 to $170.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. Canaccord Genuity Group boosted their target price on shares of GeneDx from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. Finally, Wells Fargo & Company raised GeneDx from an “equal weight” rating to an “overweight” rating and set a $155.00 price objective on the stock in a report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $140.71.

GeneDx Trading Up 4.4%

WGS stock opened at $59.61 on Monday. GeneDx has a twelve month low of $55.17 and a twelve month high of $170.87. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of -79.48 and a beta of 2.03. The company has a quick ratio of 2.34, a current ratio of 2.46 and a debt-to-equity ratio of 0.16. The firm’s fifty day simple moving average is $84.57 and its two-hundred day simple moving average is $116.11.

GeneDx (NASDAQ:WGS) last released its quarterly earnings results on Monday, February 23rd. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. GeneDx had a negative net margin of 4.92% and a positive return on equity of 14.73%. The firm had revenue of $120.99 million during the quarter, compared to analysts’ expectations of $120.80 million. As a group, analysts anticipate that GeneDx will post 0.97 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Bryan Dechairo sold 5,961 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $85.70, for a total transaction of $510,857.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevin Feeley sold 5,706 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $76.80, for a total value of $438,220.80. Following the transaction, the chief financial officer owned 27,148 shares in the company, valued at $2,084,966.40. This trade represents a 17.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 65,875 shares of company stock valued at $5,280,990 over the last ninety days. 29.60% of the stock is owned by corporate insiders.

Institutional Trading of GeneDx

Several institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its stake in GeneDx by 4.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,220,502 shares of the company’s stock worth $158,738,000 after buying an additional 52,322 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of GeneDx by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 1,189,069 shares of the company’s stock valued at $154,650,000 after purchasing an additional 18,647 shares during the period. Franklin Resources Inc. grew its stake in shares of GeneDx by 60.4% in the 4th quarter. Franklin Resources Inc. now owns 1,092,988 shares of the company’s stock valued at $142,154,000 after buying an additional 411,607 shares during the period. Westfield Capital Management Co. LP increased its stake in GeneDx by 87.1% during the fourth quarter. Westfield Capital Management Co. LP now owns 1,018,261 shares of the company’s stock worth $132,435,000 after acquiring an additional 474,167 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of GeneDx by 59.2% during the 4th quarter. Invesco Ltd. now owns 786,466 shares of the company’s stock worth $102,288,000 after purchasing an additional 292,394 shares during the last quarter. Institutional investors and hedge funds own 61.72% of the company’s stock.

GeneDx Company Profile

GeneDx is a clinical diagnostics company specializing in comprehensive genetic and genomic testing for rare and inherited disorders. The company offers a broad portfolio of assays, including targeted gene panels, whole exome sequencing, whole genome sequencing and chromosomal microarray analysis. GeneDx’s laboratory services support the diagnosis of a wide range of conditions—from rare pediatric diseases and hereditary cancer syndromes to neuromuscular and metabolic disorders—by providing clinicians with detailed variant interpretation and reporting.

Founded in 2000 and based in Gaithersburg, Maryland, GeneDx was established with the aim of accelerating the translation of genomic discoveries into clinical care.