TD Securities Cuts GeneDx (NASDAQ:WGS) Price Target to $110.00

GeneDx (NASDAQ:WGS) had its price objective decreased by TD Securities from $135.00 to $110.00 in a research note issued to investors on Thursday morning,Benzinga reports. TD Securities currently has a buy rating on the stock.

A number of other analysts have also issued reports on the company. Wells Fargo & Company decreased their price objective on GeneDx from $105.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Thursday. TD Cowen increased their price target on shares of GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Finally, The Goldman Sachs Group boosted their price objective on shares of GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $78.14.

GeneDx Trading Up 7.9 %

Shares of WGS opened at $67.23 on Thursday. GeneDx has a fifty-two week low of $18.80 and a fifty-two week high of $117.75. The business has a 50-day moving average of $94.30 and a 200 day moving average of $82.72. The firm has a market cap of $1.89 billion, a P/E ratio of -34.30 and a beta of 1.93. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.17. The company had revenue of $87.12 million for the quarter, compared to analyst estimates of $79.90 million. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. As a group, research analysts forecast that GeneDx will post 0.97 EPS for the current year.

Insider Transactions at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 46,594 shares of the company’s stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $89.62, for a total value of $4,175,754.28. Following the completion of the sale, the chief executive officer now owns 1,720 shares of the company’s stock, valued at $154,146.40. This represents a 96.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin Feeley sold 402 shares of GeneDx stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $90.05, for a total transaction of $36,200.10. Following the transaction, the chief financial officer now directly owns 5,044 shares in the company, valued at $454,212.20. This trade represents a 7.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 139,390 shares of company stock valued at $13,043,288. Insiders own 27.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in GeneDx by 18.5% during the 4th quarter. Vanguard Group Inc. now owns 1,006,210 shares of the company’s stock worth $77,337,000 after acquiring an additional 156,768 shares during the last quarter. Summit Partners Public Asset Management LLC increased its stake in shares of GeneDx by 336.9% in the fourth quarter. Summit Partners Public Asset Management LLC now owns 755,564 shares of the company’s stock worth $58,073,000 after buying an additional 582,619 shares during the period. William Blair Investment Management LLC bought a new stake in GeneDx during the 4th quarter valued at $51,496,000. Lord Abbett & CO. LLC purchased a new stake in GeneDx during the 4th quarter valued at $48,458,000. Finally, Fred Alger Management LLC grew its holdings in GeneDx by 38.5% in the 4th quarter. Fred Alger Management LLC now owns 546,054 shares of the company’s stock worth $41,970,000 after acquiring an additional 151,824 shares during the last quarter. 61.72% of the stock is 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.