GeneDx (NASDAQ:WGS) Given New $28.00 Price Target at The Goldman Sachs Group

GeneDx (NASDAQ:WGS) had its target price boosted by The Goldman Sachs Group from $12.50 to $28.00 in a report released on Wednesday morning, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

WGS has been the topic of several other reports. Jefferies Financial Group initiated coverage on GeneDx in a research note on Monday, June 3rd. They issued a hold rating and a $21.00 price objective on the stock. BTIG Research raised their price objective on GeneDx from $19.00 to $35.00 and gave the stock a buy rating in a research report on Wednesday, June 26th. TD Cowen raised their price objective on GeneDx from $14.00 to $24.00 and gave the stock a buy rating in a research report on Tuesday, April 30th. Finally, Craig Hallum started coverage on GeneDx in a report on Wednesday, July 10th. They issued a buy rating and a $43.00 target price for the company. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $30.20.

GeneDx Stock Down 2.4 %

WGS stock opened at $31.83 on Wednesday. The stock has a market capitalization of $831.40 million, a price-to-earnings ratio of -6.14 and a beta of 2.29. GeneDx has a fifty-two week low of $1.16 and a fifty-two week high of $35.65. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.22 and a quick ratio of 2.99. The business’s fifty day moving average price is $26.24 and its two-hundred day moving average price is $14.50.

GeneDx (NASDAQ:WGS) last released its earnings results on Monday, April 29th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.35. The company had revenue of $62.42 million for the quarter, compared to analyst estimates of $49.80 million. GeneDx had a negative return on equity of 36.23% and a negative net margin of 60.86%. On average, equities analysts anticipate that GeneDx will post -0.92 earnings per share for the current year.

Insider Activity

In related news, Director Casdin Capital, Llc bought 100,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were bought at an average price of $20.82 per share, with a total value of $2,082,000.00. Following the completion of the transaction, the director now directly owns 3,063,509 shares in the company, valued at $63,782,257.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other GeneDx news, Director Casdin Capital, Llc acquired 100,000 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were acquired at an average price of $20.82 per share, with a total value of $2,082,000.00. Following the completion of the transaction, the director now owns 3,063,509 shares in the company, valued at $63,782,257.38. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Katherine Stueland sold 6,325 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $11.04, for a total value of $69,828.00. Following the completion of the transaction, the chief executive officer now directly owns 75,869 shares in the company, valued at approximately $837,593.76. The disclosure for this sale can be found here. Over the last quarter, insiders bought 175,804 shares of company stock worth $3,771,670 and sold 146,505 shares worth $4,035,079. Corporate insiders own 28.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Thompson Davis & CO. Inc. raised its stake in shares of GeneDx by 99.4% during the 4th quarter. Thompson Davis & CO. Inc. now owns 19,944 shares of the company’s stock valued at $55,000 after purchasing an additional 9,944 shares during the period. Decheng Capital LLC purchased a new position in shares of GeneDx in the 4th quarter worth about $285,000. PFG Investments LLC purchased a new position in shares of GeneDx in the 1st quarter worth about $95,000. Vanguard Group Inc. boosted its holdings in shares of GeneDx by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 707,612 shares of the company’s stock worth $6,460,000 after purchasing an additional 28,678 shares in the last quarter. Finally, Gagnon Advisors LLC boosted its holdings in GeneDx by 41.6% during the 1st quarter. Gagnon Advisors LLC now owns 211,393 shares of the company’s stock valued at $1,930,000 after acquiring an additional 62,059 shares during the period. Hedge funds and other institutional investors 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.