GeneDx (NASDAQ:WGS) Price Target Increased to $11.00 by Analysts at The Goldman Sachs Group

GeneDx (NASDAQ:WGS) had its target price raised by equities research analysts at The Goldman Sachs Group to $11.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 15.55% from the company’s current price.

GeneDx Stock Performance

WGS stock traded up $0.32 on Monday, reaching $9.52. The company’s stock had a trading volume of 85,710 shares, compared to its average volume of 246,063. The firm has a fifty day moving average of $8.35 and a two-hundred day moving average of $4.66. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.95 and a current ratio of 3.10. GeneDx has a 52 week low of $1.16 and a 52 week high of $12.24.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings results on Tuesday, February 20th. The company reported ($0.59) EPS for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.01. The company had revenue of $57.42 million for the quarter, compared to analyst estimates of $57.00 million. GeneDx had a negative return on equity of 49.64% and a negative net margin of 86.77%. Analysts anticipate that GeneDx will post -2.02 earnings per share for the current fiscal year.

Insider Activity at GeneDx

In other news, Director Casdin Capital, Llc purchased 40,000 shares of the stock in a transaction dated Monday, March 4th. The shares were bought at an average cost of $8.74 per share, for a total transaction of $349,600.00. Following the transaction, the director now owns 2,702,609 shares in the company, valued at $23,620,802.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other GeneDx news, CFO Kevin Feeley sold 3,253 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $10.59, for a total value of $34,449.27. Following the transaction, the chief financial officer now owns 28,927 shares of the company’s stock, valued at $306,336.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Casdin Capital, Llc acquired 40,000 shares of GeneDx stock in a transaction dated Monday, March 4th. The shares were bought at an average cost of $8.74 per share, with a total value of $349,600.00. Following the completion of the purchase, the director now owns 2,702,609 shares in the company, valued at $23,620,802.66. The disclosure for this purchase can be found here. Insiders have sold 14,013 shares of company stock worth $146,979 over the last quarter. 28.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On GeneDx

Hedge funds and other institutional investors have recently modified their holdings of the stock. Swiss National Bank boosted its holdings in shares of GeneDx by 7.9% in the first quarter. Swiss National Bank now owns 256,700 shares of the company’s stock worth $788,000 after buying an additional 18,900 shares during the period. Citigroup Inc. grew its position in GeneDx by 49.2% during the 1st quarter. Citigroup Inc. now owns 76,541 shares of the company’s stock worth $235,000 after purchasing an additional 25,236 shares in the last quarter. BlackRock Inc. raised its stake in GeneDx by 5.8% during the 1st quarter. BlackRock Inc. now owns 2,456,595 shares of the company’s stock valued at $7,542,000 after purchasing an additional 133,789 shares during the period. Vanguard Group Inc. lifted its holdings in shares of GeneDx by 67.6% in the first quarter. Vanguard Group Inc. now owns 5,518,333 shares of the company’s stock valued at $16,941,000 after purchasing an additional 2,226,502 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of GeneDx by 2.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 626,304 shares of the company’s stock valued at $1,923,000 after buying an additional 15,548 shares in the last quarter. Institutional investors and hedge funds 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.