GeneDx (NASDAQ:WGS) Price Target Increased to $24.00 by Analysts at TD Cowen

GeneDx (NASDAQ:WGS) had its target price lifted by TD Cowen from $14.00 to $24.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research firms have also issued reports on WGS. The Goldman Sachs Group increased their price objective on shares of GeneDx to $11.00 and gave the stock a neutral rating in a research report on Monday, April 15th. BTIG Research upped their target price on shares of GeneDx from $15.00 to $19.00 and gave the company a buy rating in a research note on Tuesday.

GeneDx Stock Performance

Shares of WGS stock opened at $17.07 on Tuesday. GeneDx has a one year low of $1.16 and a one year high of $18.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.95 and a current ratio of 3.10. The company has a 50 day moving average price of $9.63 and a 200 day moving average price of $5.19. The firm has a market capitalization of $444.67 million, a price-to-earnings ratio of -2.29 and a beta of 2.75.

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

Insider Activity

In other news, Director Casdin Capital, Llc bought 40,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was acquired at an average cost of $8.74 per share, for a total transaction of $349,600.00. Following the completion of the purchase, the director now owns 2,702,609 shares of the company’s stock, valued at $23,620,802.66. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other GeneDx news, CFO Kevin Feeley sold 3,253 shares of the stock in a transaction 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 directly owns 28,927 shares in the company, valued at approximately $306,336.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Casdin Capital, Llc acquired 40,000 shares of GeneDx stock in a transaction on Monday, March 4th. The shares were bought at an average price of $8.74 per share, for a total transaction of $349,600.00. Following the completion of the purchase, the director now directly owns 2,702,609 shares in the company, valued at $23,620,802.66. The disclosure for this purchase can be found here. Over the last three months, insiders sold 21,249 shares of company stock worth $228,370. 28.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. PFG Investments LLC bought a new position in shares of GeneDx in the 1st quarter worth about $95,000. Decheng Capital LLC bought a new position in shares of GeneDx in the 4th quarter worth about $285,000. Thompson Davis & CO. Inc. lifted 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 buying an additional 9,944 shares during the last quarter. Oracle Investment Management Inc. lifted its position in shares of GeneDx by 14.9% in the 3rd quarter. Oracle Investment Management Inc. now owns 994,580 shares of the company’s stock worth $3,620,000 after buying an additional 128,731 shares during the last quarter. Finally, HighTower Advisors LLC lifted 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 buying an additional 29,361 shares during the last quarter. 61.72% of the stock is currently owned by 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.