GeneDx (NASDAQ:WGS) Price Target Raised to $95.00 at Craig Hallum

GeneDx (NASDAQ:WGS) had its target price lifted by Craig Hallum from $70.00 to $95.00 in a report released on Wednesday, Benzinga reports. Craig Hallum currently has a buy rating on the stock.

A number of other equities research analysts also recently commented on the company. The Goldman Sachs Group lifted their target price on GeneDx from $32.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Wells Fargo & Company began coverage on GeneDx in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $34.00 target price on the stock. BTIG Research lifted their target price on GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, TD Cowen lifted their target price on GeneDx from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.33.

GeneDx Stock Performance

Shares of GeneDx stock opened at $83.20 on Wednesday. GeneDx has a one year low of $1.16 and a one year high of $89.11. The company has a market cap of $2.24 billion, a price-to-earnings ratio of -26.75 and a beta of 2.32. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.22 and a current ratio of 2.38. The business’s 50 day moving average price is $45.65 and its 200 day moving average price is $32.42.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Tuesday, July 30th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.15. GeneDx had a negative return on equity of 22.71% and a negative net margin of 48.21%. The firm had revenue of $70.51 million for the quarter, compared to the consensus estimate of $58.90 million. On average, research analysts predict that GeneDx will post -0.75 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Opko Health, Inc. sold 50,000 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $34.49, for a total transaction of $1,724,500.00. Following the completion of the transaction, the insider now directly owns 2,646,972 shares of the company’s stock, valued at $91,294,064.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Katherine Stueland sold 3,639 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $33.33, for a total transaction of $121,287.87. Following the completion of the transaction, the chief executive officer now directly owns 95,457 shares of the company’s stock, valued at approximately $3,181,581.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Opko Health, Inc. sold 50,000 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $34.49, for a total value of $1,724,500.00. Following the transaction, the insider now directly owns 2,646,972 shares of the company’s stock, valued at approximately $91,294,064.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 267,401 shares of company stock valued at $8,794,447 in the last three months. 27.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC acquired a new position in shares of GeneDx during the 2nd quarter worth about $34,000. nVerses Capital LLC purchased a new stake in shares of GeneDx in the 2nd quarter valued at about $50,000. CWM LLC purchased a new stake in shares of GeneDx in the 3rd quarter valued at about $89,000. SG Americas Securities LLC purchased a new stake in shares of GeneDx in the 3rd quarter valued at about $198,000. Finally, Palumbo Wealth Management LLC purchased a new stake in shares of GeneDx in the 3rd quarter valued at about $287,000. 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.