The Goldman Sachs Group Raises GeneDx (NASDAQ:WGS) Price Target to $32.00

GeneDx (NASDAQ:WGS) had its price target raised by equities researchers at The Goldman Sachs Group from $28.00 to $32.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 2.76% from the stock’s previous close.

WGS has been the subject of several other reports. Jefferies Financial Group assumed coverage on GeneDx in a research report on Monday, June 3rd. They issued a “hold” rating and a $21.00 price objective for the company. BTIG Research boosted their target price on GeneDx from $19.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. TD Cowen boosted their target price on GeneDx from $14.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Finally, Craig Hallum started coverage on GeneDx in a research report on Wednesday, July 10th. They issued a “buy” rating and a $43.00 target price for the company. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $31.00.

GeneDx Trading Up 3.4 %

WGS traded up $1.01 during midday trading on Wednesday, hitting $31.14. 589,916 shares of the company were exchanged, compared to its average volume of 395,692. The firm has a market capitalization of $813.38 million, a P/E ratio of -6.01 and a beta of 2.29. GeneDx has a 1-year low of $1.16 and a 1-year high of $35.65. The firm’s 50 day moving average price is $27.74 and its 200-day moving average price is $16.10. The company has a quick ratio of 2.99, a current ratio of 3.22 and a debt-to-equity ratio of 0.25.

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

Insiders Place Their Bets

In other GeneDx news, CFO Kevin Feeley sold 2,646 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $28.31, for a total transaction of $74,908.26. Following the completion of the sale, the chief financial officer now directly owns 37,409 shares of the company’s stock, valued at approximately $1,059,048.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Kevin Feeley sold 2,646 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $28.31, for a total value of $74,908.26. Following the transaction, the chief financial officer now owns 37,409 shares in the company, valued at approximately $1,059,048.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Opko Health, Inc. sold 60,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $33.85, for a total value of $2,031,000.00. Following the completion of the transaction, the insider now owns 3,123,403 shares in the company, valued at approximately $105,727,191.55. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 175,804 shares of company stock valued at $3,771,670 and sold 349,076 shares valued at $10,950,812. Corporate insiders own 28.10% of the company’s stock.

Institutional Investors Weigh In On GeneDx

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Thompson Davis & CO. Inc. increased its stake in GeneDx by 99.4% in the fourth quarter. Thompson Davis & CO. Inc. now owns 19,944 shares of the company’s stock valued at $55,000 after acquiring an additional 9,944 shares during the last quarter. PFG Investments LLC purchased a new stake in shares of GeneDx during the first quarter worth about $95,000. Decheng Capital LLC purchased a new stake in shares of GeneDx during the fourth quarter worth about $285,000. Legal Advantage Investments Inc. purchased a new stake in GeneDx in the second quarter worth about $518,000. Finally, Bank of New York Mellon Corp purchased a new stake in GeneDx in the second quarter worth about $991,000. 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.