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

GeneDx (NASDAQ:WGS) had its price objective increased by Craig Hallum from $70.00 to $95.00 in a report published on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also issued reports on WGS. BTIG Research boosted their price objective on GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group upped their price objective on shares of GeneDx from $32.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Wells Fargo & Company started coverage on shares of GeneDx in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $34.00 price target on the stock. Finally, TD Cowen upped 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 research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, GeneDx currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.33.

GeneDx Stock Down 4.8 %

Shares of WGS opened at $77.74 on Wednesday. The business’s 50 day simple moving average is $47.44 and its 200-day simple moving average is $33.23. GeneDx has a one year low of $1.16 and a one year high of $89.11. The company has a market capitalization of $2.09 billion, a P/E ratio of -25.00 and a beta of 2.32. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.22.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.25. The firm had revenue of $76.90 million during the quarter, compared to analysts’ expectations of $64.98 million. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. GeneDx’s revenue was up 44.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.82) EPS. As a group, sell-side analysts predict that GeneDx will post -0.75 EPS for the current fiscal year.

Insider Buying and Selling at GeneDx

In other GeneDx news, major shareholder Opko Health, Inc. sold 100,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $31.82, for a total transaction of $3,182,000.00. Following the sale, the insider now directly owns 2,871,570 shares of the company’s stock, valued at $91,373,357.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Opko Health, Inc. sold 100,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $31.82, for a total transaction of $3,182,000.00. Following the sale, the insider now directly owns 2,871,570 shares in the company, valued at $91,373,357.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Katherine Stueland sold 3,639 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were 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 owns 95,457 shares of the company’s stock, valued at $3,181,581.81. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 269,829 shares of company stock worth $8,956,152. Insiders own 27.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Oracle Investment Management Inc. raised its position in GeneDx by 531.7% during the first quarter. Oracle Investment Management Inc. now owns 1,126,607 shares of the company’s stock valued at $10,286,000 after purchasing an additional 948,253 shares in the last quarter. Driehaus Capital Management LLC bought a new position in shares of GeneDx during the 2nd quarter valued at about $11,335,000. Assenagon Asset Management S.A. purchased a new position in shares of GeneDx during the 2nd quarter valued at about $9,575,000. Divisadero Street Capital Management LP bought a new stake in GeneDx in the 2nd quarter worth approximately $5,886,000. Finally, Gagnon Securities LLC grew its position in GeneDx by 59.3% during the first quarter. Gagnon Securities LLC now owns 556,305 shares of the company’s stock valued at $5,079,000 after acquiring an additional 207,027 shares during the last quarter. Hedge funds and other institutional investors own 61.72% of the company’s stock.

About GeneDx

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.