GeneDx (NASDAQ:WGS) PT Raised to $24.00 at TD Cowen

GeneDx (NASDAQ:WGS) had its price target raised by equities research analysts at TD Cowen from $14.00 to $24.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price target would suggest a potential upside of 36.67% from the company’s current price.

A number of other equities research analysts have also weighed in on WGS. The Goldman Sachs Group boosted their price objective on GeneDx to $11.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. BTIG Research upped their price target on shares of GeneDx from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday.

GeneDx Stock Performance

GeneDx stock traded up $6.56 during midday trading on Tuesday, hitting $17.56. The company’s stock had a trading volume of 2,912,734 shares, compared to its average volume of 263,929. The company has a 50-day moving average price of $9.39 and a two-hundred day moving average price of $5.09. GeneDx has a 1-year low of $1.16 and a 1-year high of $17.74. The company has a market cap of $457.44 million, a price-to-earnings ratio of -2.25 and a beta of 2.75. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.10 and a quick ratio of 2.95.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings results on Tuesday, February 20th. The company reported ($0.59) EPS for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.01. The business had revenue of $57.42 million during the quarter, compared to the consensus estimate of $57.00 million. GeneDx had a negative return on equity of 49.64% and a negative net margin of 86.77%. As a group, sell-side analysts predict that GeneDx will post -2.02 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Katherine Stueland sold 8,559 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $10.59, for a total value of $90,639.81. Following the transaction, the chief executive officer now owns 66,698 shares in the company, valued at $706,331.82. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other GeneDx news, CEO Katherine Stueland sold 8,559 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $10.59, for a total value of $90,639.81. Following the transaction, the chief executive officer now directly owns 66,698 shares of the company’s stock, valued at $706,331.82. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Casdin Capital, Llc acquired 40,000 shares of GeneDx stock in a transaction dated Monday, March 4th. The shares were bought at an average cost of $8.74 per share, with a total value of $349,600.00. Following the transaction, the director now owns 2,702,609 shares in the company, valued at $23,620,802.66. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 13,820 shares of company stock worth $146,354. 28.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On GeneDx

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. PFG Investments LLC bought a new stake in shares of GeneDx during the first quarter valued at approximately $95,000. Decheng Capital LLC acquired a new stake in GeneDx in the 4th quarter valued at $285,000. Thompson Davis & CO. Inc. increased its stake in GeneDx by 99.4% during the 4th quarter. Thompson Davis & CO. Inc. now owns 19,944 shares of the company’s stock valued at $55,000 after purchasing an additional 9,944 shares in the last quarter. Oracle Investment Management Inc. lifted its stake in shares of GeneDx by 14.9% in the third quarter. Oracle Investment Management Inc. now owns 994,580 shares of the company’s stock valued at $3,620,000 after buying an additional 128,731 shares in the last quarter. Finally, HighTower Advisors LLC grew its holdings in shares of GeneDx by 14.1% during the third quarter. HighTower Advisors LLC now owns 237,948 shares of the company’s stock valued at $865,000 after buying an additional 29,361 shares during the last quarter. Institutional investors own 61.72% of the company’s stock.

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.