Craig Hallum Boosts GeneDx (NASDAQ:WGS) Price Target to $46.00

GeneDx (NASDAQ:WGS) had its price objective hoisted by Craig Hallum from $43.00 to $46.00 in a research report sent to investors on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also weighed in on the stock. BTIG Research upped their target price on shares of GeneDx from $19.00 to $35.00 and gave the stock a buy rating in a report on Wednesday, June 26th. The Goldman Sachs Group upped their target price on shares of GeneDx from $28.00 to $32.00 and gave the stock a neutral rating in a report on Wednesday. Jefferies Financial Group assumed coverage on shares of GeneDx in a report on Monday, June 3rd. They issued a hold rating and a $21.00 target price on the stock. Finally, TD Cowen upped their target price on shares of GeneDx from $14.00 to $24.00 and gave the stock a buy rating in a report on Tuesday, April 30th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $38.80.

GeneDx Stock Down 6.8 %

WGS opened at $30.07 on Wednesday. The firm’s 50-day simple moving average is $28.43 and its 200-day simple moving average is $16.51. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.99 and a current ratio of 3.22. GeneDx has a twelve month low of $1.16 and a twelve month high of $35.65. The firm has a market cap of $785.43 million, a price-to-earnings ratio of -5.81 and a beta of 2.29.

Insiders Place Their Bets

In other GeneDx news, CEO Katherine Stueland sold 2,154 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $33.54, for a total transaction of $72,245.16. Following the sale, the chief executive officer now owns 92,550 shares of the company’s stock, valued at approximately $3,104,127. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other GeneDx news, CEO Katherine Stueland sold 2,154 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $33.54, for a total transaction of $72,245.16. Following the transaction, the chief executive officer now directly owns 92,550 shares in the company, valued at approximately $3,104,127. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Opko Health, Inc. sold 50,000 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $33.86, for a total transaction of $1,693,000.00. Following the transaction, the insider now owns 3,073,403 shares in the company, valued at $104,065,425.58. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 175,804 shares of company stock valued at $3,771,670 and have sold 490,343 shares valued at $15,701,354. Insiders own 28.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in WGS. nVerses Capital LLC acquired a new position in GeneDx during the 2nd quarter valued at about $50,000. Thompson Davis & CO. Inc. lifted its position in 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. PFG Investments LLC acquired a new position in GeneDx during the 1st quarter valued at about $95,000. Decheng Capital LLC acquired a new stake in shares of GeneDx in the 4th quarter valued at approximately $285,000. Finally, Rhumbline Advisers raised its position in shares of GeneDx by 8,096.4% in the 2nd quarter. Rhumbline Advisers now owns 18,360 shares of the company’s stock valued at $480,000 after acquiring an additional 18,136 shares during the period. 61.72% of the stock is currently owned by institutional investors and hedge funds.

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.