GeneDx (NASDAQ:WGS) Price Target Raised to $170.00

GeneDx (NASDAQ:WGS) had its target price lifted by Canaccord Genuity Group from $160.00 to $170.00 in a report issued on Monday morning, MarketBeat reports. The brokerage currently has a buy rating on the stock.

Several other research firms also recently commented on WGS. Wall Street Zen downgraded shares of GeneDx from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. BTIG Research increased their target price on GeneDx from $165.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Guggenheim reiterated a “buy” rating and issued a $170.00 price target (up from $115.00) on shares of GeneDx in a research report on Wednesday, October 29th. Zacks Research lowered GeneDx from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 2nd. Finally, Piper Sandler increased their price objective on GeneDx from $120.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, September 11th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $135.89.

GeneDx Trading Up 1.2%

Shares of WGS opened at $136.96 on Monday. GeneDx has a fifty-two week low of $55.17 and a fifty-two week high of $170.87. The business has a 50-day moving average of $142.17 and a 200 day moving average of $117.66. The firm has a market cap of $3.96 billion, a P/E ratio of 1,521.72 and a beta of 1.99. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.59 and a current ratio of 2.71.

GeneDx (NASDAQ:WGS) last issued its earnings results on Tuesday, October 28th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.21. The firm had revenue of $116.74 million during the quarter, compared to analyst estimates of $104.33 million. GeneDx had a net margin of 0.52% and a return on equity of 20.22%. As a group, research analysts forecast that GeneDx will post 0.97 EPS for the current year.

Insider Buying and Selling

In other GeneDx news, CEO Katherine Stueland sold 10,857 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $143.89, for a total value of $1,562,213.73. Following the sale, the chief executive officer owned 14,237 shares of the company’s stock, valued at $2,048,561.93. This trade represents a 43.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kevin Feeley sold 3,855 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $143.87, for a total value of $554,618.85. Following the transaction, the chief financial officer directly owned 8,731 shares of the company’s stock, valued at $1,256,128.97. The trade was a 30.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 60,163 shares of company stock worth $9,339,792. Corporate insiders own 29.60% of the company’s stock.

Hedge Funds Weigh In On GeneDx

A number of hedge funds and other institutional investors have recently modified their holdings of the company. William Blair Investment Management LLC raised its holdings in shares of GeneDx by 37.2% during the 2nd quarter. William Blair Investment Management LLC now owns 1,631,402 shares of the company’s stock valued at $150,595,000 after buying an additional 442,414 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of GeneDx by 101.9% during the third quarter. Franklin Resources Inc. now owns 681,381 shares of the company’s stock worth $73,412,000 after acquiring an additional 343,954 shares in the last quarter. Westfield Capital Management Co. LP lifted its holdings in shares of GeneDx by 164.8% in the 2nd quarter. Westfield Capital Management Co. LP now owns 589,188 shares of the company’s stock worth $54,388,000 after acquiring an additional 366,711 shares during the last quarter. Zweig DiMenna Associates LLC boosted its stake in shares of GeneDx by 28.2% in the 2nd quarter. Zweig DiMenna Associates LLC now owns 586,100 shares of the company’s stock valued at $54,103,000 after purchasing an additional 129,000 shares in the last quarter. Finally, Fred Alger Management LLC grew its holdings in shares of GeneDx by 2.0% during the 1st quarter. Fred Alger Management LLC now owns 557,018 shares of the company’s stock valued at $49,332,000 after purchasing an additional 10,964 shares during the last quarter. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

GeneDx Company Profile

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.