Guggenheim Cuts GeneDx (NASDAQ:WGS) Price Target to $100.00

GeneDx (NASDAQ:WGS) had its price objective lowered by Guggenheim from $170.00 to $100.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also recently commented on the stock. Piper Sandler reiterated an “overweight” rating and issued a $130.00 price objective (down from $160.00) on shares of GeneDx in a research note on Tuesday, February 24th. Weiss Ratings restated a “sell (d)” rating on shares of GeneDx in a research report on Wednesday, January 21st. Jefferies Financial Group set a $150.00 target price on shares of GeneDx in a report on Monday, February 23rd. BTIG Research reduced their price target on shares of GeneDx from $200.00 to $170.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. Finally, Zacks Research raised GeneDx from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $140.71.

GeneDx Stock Up 2.0%

WGS opened at $65.52 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.46 and a quick ratio of 2.34. GeneDx has a 12 month low of $55.17 and a 12 month high of $170.87. The stock has a market capitalization of $1.92 billion, a P/E ratio of -87.36 and a beta of 2.17. The business has a 50 day simple moving average of $83.17 and a 200-day simple moving average of $115.33.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Monday, February 23rd. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. GeneDx had a positive return on equity of 14.73% and a negative net margin of 4.92%.The firm had revenue of $120.99 million for the quarter, compared to analyst estimates of $120.80 million. On average, equities analysts anticipate that GeneDx will post 0.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Katherine Stueland sold 17,179 shares of the company’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $76.80, for a total value of $1,319,347.20. Following the sale, the chief executive officer directly owned 58,447 shares in the company, valued at $4,488,729.60. This represents a 22.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin Feeley sold 5,706 shares of GeneDx stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $76.80, for a total value of $438,220.80. Following the sale, the chief financial officer owned 27,148 shares of the company’s stock, valued at approximately $2,084,966.40. This represents a 17.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 65,875 shares of company stock valued at $5,280,990 over the last three months. Insiders own 29.60% of the company’s stock.

Hedge Funds Weigh In On GeneDx

Institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its position in GeneDx by 4.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,220,502 shares of the company’s stock worth $158,738,000 after acquiring an additional 52,322 shares during the last quarter. Vanguard Group Inc. raised its holdings in GeneDx by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 1,189,069 shares of the company’s stock valued at $154,650,000 after acquiring an additional 18,647 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of GeneDx by 60.4% during the 4th quarter. Franklin Resources Inc. now owns 1,092,988 shares of the company’s stock worth $142,154,000 after purchasing an additional 411,607 shares during the period. Westfield Capital Management Co. LP lifted its stake in shares of GeneDx by 87.1% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,018,261 shares of the company’s stock worth $132,435,000 after purchasing an additional 474,167 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of GeneDx by 59.2% during the fourth quarter. Invesco Ltd. now owns 786,466 shares of the company’s stock worth $102,288,000 after purchasing an additional 292,394 shares during the last quarter. Institutional investors and hedge funds own 61.72% of the company’s stock.

About GeneDx

GeneDx is a clinical diagnostics company specializing in comprehensive genetic and genomic testing for rare and inherited disorders. The company offers a broad portfolio of assays, including targeted gene panels, whole exome sequencing, whole genome sequencing and chromosomal microarray analysis. GeneDx’s laboratory services support the diagnosis of a wide range of conditions—from rare pediatric diseases and hereditary cancer syndromes to neuromuscular and metabolic disorders—by providing clinicians with detailed variant interpretation and reporting.

Founded in 2000 and based in Gaithersburg, Maryland, GeneDx was established with the aim of accelerating the translation of genomic discoveries into clinical care.