BTIG Research Increases GeneDx (NASDAQ:WGS) Price Target to $15.00

GeneDx (NASDAQ:WGS) had its price objective raised by research analysts at BTIG Research from $11.00 to $15.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price target points to a potential upside of 43.54% from the company’s previous close.

Separately, The Goldman Sachs Group lifted their price target on GeneDx to $11.00 and gave the stock a “neutral” rating in a research note on Monday, April 15th.

GeneDx Price Performance

Shares of NASDAQ WGS traded up $0.81 during midday trading on Monday, hitting $10.45. The company had a trading volume of 81,672 shares, compared to its average volume of 243,175. The firm has a market capitalization of $272.22 million, a price-to-earnings ratio of -1.41 and a beta of 2.75. GeneDx has a twelve month low of $1.16 and a twelve month high of $12.24. The business has a 50-day simple moving average of $8.58 and a two-hundred day simple moving average of $4.75. The company has a quick ratio of 2.95, a current ratio of 3.10 and a debt-to-equity ratio of 0.23.

GeneDx (NASDAQ:WGS) last issued its earnings results on Tuesday, February 20th. The company reported ($0.59) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.01. The company had revenue of $57.42 million during the quarter, compared to analysts’ expectations of $57.00 million. GeneDx had a negative net margin of 86.77% and a negative return on equity of 49.64%. Equities research analysts anticipate that GeneDx will post -2.02 earnings per share for the current year.

Insider Activity at GeneDx

In related news, CFO Kevin Feeley sold 3,253 shares of GeneDx stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $10.59, for a total transaction of $34,449.27. Following the completion of the sale, the chief financial officer now owns 28,927 shares in the company, valued at approximately $306,336.93. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Kevin Feeley sold 3,253 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $10.59, for a total transaction of $34,449.27. Following the transaction, the chief financial officer now owns 28,927 shares of the company’s stock, valued at $306,336.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Katherine Stueland sold 8,559 shares of GeneDx stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $10.59, for a total transaction of $90,639.81. Following the completion of the sale, the chief executive officer now directly owns 66,698 shares of the company’s stock, valued at $706,331.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,820 shares of company stock valued at $146,354. 28.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On GeneDx

Several hedge funds have recently modified their holdings of WGS. Thompson Davis & CO. Inc. increased its position in shares of GeneDx by 99.4% in the fourth quarter. Thompson Davis & CO. Inc. now owns 19,944 shares of the company’s stock worth $55,000 after acquiring an additional 9,944 shares in the last quarter. Pathstone Family Office LLC boosted its position in GeneDx by 262.2% during the 3rd quarter. Pathstone Family Office LLC now owns 54,327 shares of the company’s stock worth $198,000 after purchasing an additional 39,327 shares during the period. Decheng Capital LLC acquired a new stake in GeneDx in the 4th quarter valued at $285,000. Trellus Management Company LLC raised its position in GeneDx by 55.0% in the third quarter. Trellus Management Company LLC now owns 155,012 shares of the company’s stock valued at $564,000 after purchasing an additional 54,976 shares during the period. Finally, HighTower Advisors LLC lifted its stake in shares of GeneDx by 14.1% during the third quarter. HighTower Advisors LLC now owns 237,948 shares of the company’s stock worth $865,000 after purchasing an additional 29,361 shares in the last quarter. 61.72% of the stock is owned by institutional investors and hedge funds.

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.