GeneDx (NASDAQ:WGS) Given New $118.00 Price Target at TD Cowen

GeneDx (NASDAQ:WGS) had its price target increased by TD Cowen from $75.00 to $118.00 in a research note released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts also recently commented on the company. Wells Fargo & Company lifted their price objective on GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Craig Hallum lifted their price target on shares of GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group increased their price objective on shares of GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $70.67.

GeneDx Stock Down 0.5 %

Shares of GeneDx stock opened at $96.57 on Tuesday. The company has a 50-day simple moving average of $77.78 and a two-hundred day simple moving average of $52.76. The stock has a market capitalization of $2.65 billion, a PE ratio of -31.05 and a beta of 2.02. GeneDx has a 52-week low of $2.85 and a 52-week high of $98.87. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40.

GeneDx (NASDAQ:WGS) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.25. The business had revenue of $76.90 million for the quarter, compared to analysts’ expectations of $64.98 million. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. The firm’s quarterly revenue was up 44.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.82) EPS. On average, analysts anticipate that GeneDx will post -0.24 EPS for the current fiscal year.

Insider Buying and Selling at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 2,154 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $66.60, for a total transaction of $143,456.40. Following the sale, the chief executive officer now owns 105,426 shares in the company, valued at approximately $7,021,371.60. This trade represents a 2.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin Feeley sold 3,728 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $76.75, for a total transaction of $286,124.00. Following the completion of the transaction, the chief financial officer now owns 28,200 shares of the company’s stock, valued at approximately $2,164,350. The trade was a 11.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,143,039 shares of company stock valued at $84,816,828. Insiders own 27.30% of the company’s stock.

Hedge Funds Weigh In On GeneDx

Large investors have recently made changes to their positions in the business. Driehaus Capital Management LLC bought a new stake in GeneDx during the 2nd quarter valued at approximately $11,335,000. Fred Alger Management LLC bought a new stake in shares of GeneDx during the third quarter valued at approximately $16,731,000. Divisadero Street Capital Management LP purchased a new position in shares of GeneDx in the second quarter worth $5,886,000. Millennium Management LLC boosted its position in shares of GeneDx by 193.5% during the second quarter. Millennium Management LLC now owns 311,401 shares of the company’s stock worth $8,140,000 after acquiring an additional 205,318 shares during the last quarter. Finally, Raymond James & Associates purchased a new position in GeneDx during the third quarter valued at $8,090,000. 61.72% of the stock is currently owned by hedge funds and other 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.