GeneDx (NASDAQ:WGS) Price Target Raised to $200.00

GeneDx (NASDAQ:WGS) had its target price increased by BTIG Research from $165.00 to $200.00 in a research report sent to investors on Friday, MarketBeat reports. They currently have a buy rating on the stock.

A number of other research analysts have also recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of GeneDx in a report on Wednesday, October 8th. Guggenheim reissued a “buy” rating and issued a $170.00 target price (up from $115.00) on shares of GeneDx in a research report on Wednesday, October 29th. Wall Street Zen cut GeneDx from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Wells Fargo & Company increased their price objective on GeneDx from $95.00 to $140.00 and gave the company an “equal weight” rating in a report on Tuesday, November 4th. Finally, Piper Sandler raised their price objective on GeneDx from $120.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, September 11th. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $133.11.

GeneDx Trading Down 2.5%

GeneDx stock opened at $151.51 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.59 and a current ratio of 2.71. The stock has a market cap of $4.38 billion, a PE ratio of 1,683.44 and a beta of 1.98. The stock has a 50-day moving average of $139.26 and a two-hundred day moving average of $114.15. GeneDx has a one year low of $55.17 and a one year high of $170.87.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.21. The firm had revenue of $116.74 million for the quarter, compared to the consensus estimate of $104.33 million. GeneDx had a net margin of 0.52% and a return on equity of 20.22%. On average, research analysts anticipate that GeneDx will post 0.97 EPS for the current fiscal year.

Insider Buying and Selling

In other GeneDx news, Director Joshua Ruch sold 38,000 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $160.37, for a total transaction of $6,094,060.00. Following the transaction, the director owned 11,941 shares in the company, valued at approximately $1,914,978.17. This represents a 76.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Katherine Stueland sold 10,501 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $121.47, for a total value of $1,275,556.47. Following the completion of the sale, the chief executive officer owned 14,578 shares of the company’s stock, valued at $1,770,789.66. This trade represents a 41.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 59,680 shares of company stock valued at $8,951,356. 29.60% of the stock is owned by company insiders.

Institutional Trading of GeneDx

A number of institutional investors have recently made changes to their positions in the company. CIBC Bancorp USA Inc. purchased a new stake in shares of GeneDx during the third quarter worth approximately $216,000. Oberweis Asset Management Inc. boosted its stake in GeneDx by 19.0% during the 3rd quarter. Oberweis Asset Management Inc. now owns 193,920 shares of the company’s stock worth $20,893,000 after purchasing an additional 31,020 shares during the last quarter. Castleark Management LLC purchased a new stake in shares of GeneDx during the third quarter worth $7,734,000. PharVision Advisers LLC purchased a new stake in shares of GeneDx during the third quarter worth $202,000. Finally, Verition Fund Management LLC raised its position in shares of GeneDx by 25.1% in the third quarter. Verition Fund Management LLC now owns 14,135 shares of the company’s stock valued at $1,523,000 after buying an additional 2,840 shares during the last quarter. 61.72% of the stock is owned by institutional investors and hedge funds.

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.