GeneDx (NASDAQ:WGS) PT Raised to $19.00

GeneDx (NASDAQ:WGS) had its target price lifted by equities researchers at BTIG Research from $15.00 to $19.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s price objective indicates a potential upside of 72.73% from the stock’s previous close.

Separately, The Goldman Sachs Group upped their target price 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 opened at $11.00 on Tuesday. The firm has a market capitalization of $286.55 million, a P/E ratio of -1.48 and a beta of 2.75. The company has a quick ratio of 2.95, a current ratio of 3.10 and a debt-to-equity ratio of 0.23. The stock’s 50-day simple moving average is $9.39 and its two-hundred day simple moving average is $5.09. GeneDx has a twelve month low of $1.16 and a twelve month high of $12.57.

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

Insider Transactions at GeneDx

In other news, Director Casdin Capital, Llc acquired 40,000 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was purchased at an average cost of $8.74 per share, for a total transaction of $349,600.00. Following the acquisition, the director now owns 2,702,609 shares of the company’s stock, valued at $23,620,802.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Casdin Capital, Llc bought 40,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was bought at an average cost of $8.74 per share, for a total transaction of $349,600.00. Following the acquisition, the director now directly owns 2,702,609 shares of the company’s stock, valued at approximately $23,620,802.66. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevin Feeley sold 3,253 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $10.59, for a total value of $34,449.27. Following the sale, the chief financial officer now owns 28,927 shares of the company’s stock, valued at $306,336.93. The disclosure for this sale can be found here. In the last three months, insiders sold 13,820 shares of company stock worth $146,354. 28.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On GeneDx

Institutional investors and hedge funds have recently bought and sold shares of the business. Thompson Davis & CO. Inc. raised 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 worth $55,000 after acquiring an additional 9,944 shares in the last quarter. PFG Investments LLC bought a new position in shares of GeneDx in the 1st quarter worth approximately $95,000. HighTower Advisors LLC raised its position in shares of GeneDx by 14.1% in the 3rd quarter. HighTower Advisors LLC now owns 237,948 shares of the company’s stock worth $865,000 after acquiring an additional 29,361 shares in the last quarter. Pathstone Family Office LLC raised its position in shares of GeneDx by 262.2% in the 3rd quarter. Pathstone Family Office LLC now owns 54,327 shares of the company’s stock worth $198,000 after acquiring an additional 39,327 shares in the last quarter. Finally, Trellus Management Company LLC raised its position in shares of GeneDx by 55.0% in the 3rd quarter. Trellus Management Company LLC now owns 155,012 shares of the company’s stock worth $564,000 after acquiring an additional 54,976 shares in the last quarter. Hedge funds and other 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.