Guggenheim Has Lowered Expectations for GeneDx (NASDAQ:WGS) Stock Price

GeneDx (NASDAQ:WGS) had its target price decreased by investment analysts at Guggenheim from $170.00 to $100.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s target price would suggest a potential upside of 55.71% from the stock’s current price.

Several other research analysts also recently weighed in on WGS. BTIG Research cut their price target on GeneDx from $200.00 to $170.00 and set a “buy” rating for the company in a report on Tuesday, February 24th. Piper Sandler restated an “overweight” rating and set a $130.00 price objective (down from $160.00) on shares of GeneDx in a report on Tuesday, February 24th. Zacks Research raised GeneDx from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 25th. Canaccord Genuity Group upped their target price on GeneDx from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. Finally, Wall Street Zen downgraded GeneDx from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, GeneDx currently has an average rating of “Moderate Buy” and an average price target of $140.71.

GeneDx Price Performance

GeneDx stock opened at $64.22 on Monday. GeneDx has a 12-month low of $55.17 and a 12-month high of $170.87. The stock has a market capitalization of $1.88 billion, a P/E ratio of -85.63 and a beta of 2.03. The firm’s 50-day moving average is $83.86 and its two-hundred day moving average is $115.69. 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 (NASDAQ:WGS) last posted its quarterly earnings data on Monday, February 23rd. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. The business had revenue of $120.99 million during the quarter, compared to analyst estimates of $120.80 million. GeneDx had a negative net margin of 4.92% and a positive return on equity of 14.73%. Equities analysts predict that GeneDx will post 0.97 earnings per share for the current year.

Insider Activity at GeneDx

In other news, CFO Kevin Feeley sold 6,187 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $78.61, for a total transaction of $486,360.07. Following the completion of the sale, the chief financial officer directly owned 18,674 shares of the company’s stock, valued at $1,467,963.14. The trade was a 24.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Bryan Dechairo sold 5,961 shares of the company’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $85.70, for a total value of $510,857.70. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 65,875 shares of company stock worth $5,280,990 in the last 90 days. Company insiders own 29.60% of the company’s stock.

Hedge Funds Weigh In On GeneDx

A number of large investors have recently modified their holdings of WGS. Kestra Advisory Services LLC acquired a new position in shares of GeneDx in the 4th quarter valued at about $27,000. Jones Financial Companies Lllp increased its position in GeneDx by 664.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock worth $25,000 after purchasing an additional 186 shares in the last quarter. Ramirez Asset Management Inc. purchased a new position in GeneDx in the fourth quarter valued at approximately $33,000. Greenline Wealth Management LLC purchased a new position in GeneDx in the fourth quarter valued at approximately $33,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in GeneDx during the fourth quarter valued at approximately $35,000. 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.