GeneDx (NASDAQ:WGS) Given New $118.00 Price Target at TD Cowen

GeneDx (NASDAQ:WGS) had its price target lifted by TD Cowen from $75.00 to $118.00 in a report published on Tuesday,Benzinga reports. TD Cowen currently has a buy rating on the stock.

A number of other brokerages also recently issued reports on WGS. Wells Fargo & Company upped their price target on GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. The Goldman Sachs Group upped their target price on shares of GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Craig Hallum upped their price objective on shares of GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $70.67.

GeneDx Trading Up 8.3 %

NASDAQ:WGS opened at $97.04 on Tuesday. The stock has a fifty day moving average price of $77.21 and a 200 day moving average price of $52.15. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. GeneDx has a 12-month low of $2.80 and a 12-month high of $98.87. The firm has a market cap of $2.67 billion, a PE ratio of -31.20 and a beta of 2.02.

GeneDx (NASDAQ:WGS) last issued its earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.25. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The firm had revenue of $76.90 million for the quarter, compared to analysts’ expectations of $64.98 million. During the same quarter last year, the company earned ($0.82) earnings per share. The firm’s revenue was up 44.3% compared to the same quarter last year. Sell-side analysts anticipate that GeneDx will post -0.24 earnings per share for the current fiscal year.

Insider Transactions at GeneDx

In other news, CFO Kevin Feeley sold 1,430 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $76.04, for a total value of $108,737.20. Following the completion of the sale, the chief financial officer now directly owns 26,770 shares of the company’s stock, valued at $2,035,590.80. This trade represents a 5.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Katherine Stueland sold 2,154 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $66.60, for a total value of $143,456.40. Following the transaction, the chief executive officer now directly owns 105,426 shares in the company, valued at $7,021,371.60. This represents a 2.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,143,039 shares of company stock worth $84,816,828. Company insiders own 27.30% of the company’s stock.

Institutional Investors Weigh In On GeneDx

A number of institutional investors and hedge funds have recently modified their holdings of the company. Driehaus Capital Management LLC acquired a new position in shares of GeneDx during the 2nd quarter worth $11,335,000. Fred Alger Management LLC acquired a new position in GeneDx during the third quarter worth about $16,731,000. Geode Capital Management LLC lifted its holdings in shares of GeneDx by 8.7% in the third quarter. Geode Capital Management LLC now owns 377,631 shares of the company’s stock valued at $16,030,000 after purchasing an additional 30,379 shares in the last quarter. State Street Corp grew its position in shares of GeneDx by 18.3% in the third quarter. State Street Corp now owns 314,914 shares of the company’s stock valued at $13,365,000 after purchasing an additional 48,735 shares during the last quarter. Finally, Millennium Management LLC increased its stake in shares of GeneDx by 193.5% during the 2nd quarter. Millennium Management LLC now owns 311,401 shares of the company’s stock worth $8,140,000 after purchasing an additional 205,318 shares in the last quarter. Institutional investors and hedge funds 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.