TD Cowen Increases GeneDx (NASDAQ:WGS) Price Target to $24.00

GeneDx (NASDAQ:WGS) had its price target increased by TD Cowen from $14.00 to $24.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s target price would indicate a potential upside of 36.67% from the company’s current price.

A number of other equities research analysts have also weighed in on WGS. BTIG Research boosted their price objective on shares of GeneDx from $15.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday. The Goldman Sachs Group increased their price objective on GeneDx to $11.00 and gave the company a “neutral” rating in a report on Monday, April 15th.

GeneDx Stock Up 59.6 %

Shares of GeneDx stock traded up $6.56 during trading on Tuesday, reaching $17.56. The company’s stock had a trading volume of 2,912,734 shares, compared to its average volume of 263,929. GeneDx has a 1-year low of $1.16 and a 1-year high of $17.74. The company has a 50-day simple moving average of $9.39 and a two-hundred day simple moving average of $5.09. 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 company has a market cap of $457.44 million, a price-to-earnings ratio of -2.25 and a beta of 2.75.

GeneDx (NASDAQ:WGS) last issued its quarterly 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 forecast that GeneDx will post -2.02 earnings per share for the current year.

Insider Activity at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 8,559 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $10.59, for a total value of $90,639.81. Following the completion of the transaction, the chief executive officer now directly owns 66,698 shares of the company’s stock, valued at $706,331.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Kevin Feeley sold 3,253 shares of the company’s 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 $34,449.27. Following the completion of the transaction, the chief financial officer now directly owns 28,927 shares of the company’s stock, valued at approximately $306,336.93. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Katherine Stueland sold 8,559 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 66,698 shares of the company’s stock, valued at $706,331.82. The disclosure for this sale can be found here. Insiders sold 13,820 shares of company stock worth $146,354 over the last three months. Company insiders own 28.10% of the company’s stock.

Institutional Trading of GeneDx

Several institutional investors have recently modified their holdings of the stock. PFG Investments LLC acquired a new stake in GeneDx in the 1st quarter worth about $95,000. Decheng Capital LLC purchased a new stake in shares of GeneDx during the fourth quarter worth approximately $285,000. Thompson Davis & CO. Inc. raised its stake in 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 purchasing an additional 9,944 shares during the last quarter. Oracle Investment Management Inc. lifted its holdings in GeneDx by 14.9% in the 3rd quarter. Oracle Investment Management Inc. now owns 994,580 shares of the company’s stock valued at $3,620,000 after purchasing an additional 128,731 shares in the last quarter. Finally, HighTower Advisors LLC boosted its stake in GeneDx by 14.1% during the 3rd quarter. HighTower Advisors LLC now owns 237,948 shares of the company’s stock worth $865,000 after purchasing an additional 29,361 shares during the last quarter. Institutional investors and hedge funds own 61.72% of the company’s stock.

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.