GeneDx (NASDAQ:WGS) Price Target Raised to $45.00 at BTIG Research

GeneDx (NASDAQ:WGS) had its target price raised by BTIG Research from $35.00 to $45.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also weighed in on WGS. TD Cowen lifted their price objective on GeneDx from $14.00 to $24.00 and gave the stock a buy rating in a report on Tuesday, April 30th. The Goldman Sachs Group boosted their price target on shares of GeneDx from $28.00 to $32.00 and gave the company 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 set a hold rating and a $21.00 price objective for the company. Finally, Craig Hallum lifted their target price on shares of GeneDx from $43.00 to $46.00 and gave the company a buy rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $38.80.

GeneDx Stock Down 6.8 %

Shares of WGS opened at $30.07 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.99 and a current ratio of 2.38. The company has a 50-day simple moving average of $28.43 and a 200-day simple moving average of $16.61. GeneDx has a 52 week low of $1.16 and a 52 week high of $35.65. The firm has a market capitalization of $785.43 million, a P/E ratio of -5.81 and a beta of 2.29.

Insider Activity

In other news, Director Casdin Capital, Llc acquired 50,000 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were purchased at an average cost of $23.31 per share, with a total value of $1,165,500.00. Following the completion of the purchase, the director now owns 2,753,509 shares of the company’s stock, valued at $64,184,294.79. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other GeneDx news, Director Casdin Capital, Llc bought 50,000 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were bought at an average price of $23.31 per share, for a total transaction of $1,165,500.00. Following the completion of the acquisition, the director now owns 2,753,509 shares of the company’s stock, valued at $64,184,294.79. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Katherine Stueland sold 2,652 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $24.92, for a total value of $66,087.84. Following the completion of the sale, the chief executive officer now owns 79,763 shares of the company’s stock, valued at $1,987,693.96. The disclosure for this sale can be found here. In the last quarter, insiders have bought 175,804 shares of company stock worth $3,771,670 and have sold 490,343 shares worth $15,701,354. 28.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. nVerses Capital LLC bought a new position in shares of GeneDx in the 2nd quarter worth $50,000. Thompson Davis & CO. Inc. increased its position in shares of GeneDx by 99.4% in the 4th quarter. Thompson Davis & CO. Inc. now owns 19,944 shares of the company’s stock valued at $55,000 after buying an additional 9,944 shares in the last quarter. PFG Investments LLC acquired a new stake in GeneDx during the 1st quarter worth $95,000. Decheng Capital LLC bought a new position in GeneDx during the fourth quarter worth about $285,000. Finally, Rhumbline Advisers grew its stake in GeneDx by 8,096.4% in the second 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.

GeneDx Company Profile

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.