GeneDx (NASDAQ:WGS) Given New $170.00 Price Target at BTIG Research

GeneDx (NASDAQ:WGSGet Free Report) had its price objective dropped by equities researchers at BTIG Research from $200.00 to $170.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s target price would indicate a potential upside of 95.22% from the stock’s previous close.

Several other research analysts have also weighed in on WGS. Jefferies Financial Group set a $150.00 price target on GeneDx in a research report on Monday. Canaccord Genuity Group raised their target price on shares of GeneDx from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. Wells Fargo & Company raised shares of GeneDx from an “equal weight” rating to an “overweight” rating and set a $155.00 price objective for the company in a research report on Monday, February 9th. Piper Sandler reaffirmed an “overweight” rating on shares of GeneDx in a report on Tuesday. Finally, Guggenheim reiterated a “buy” rating and issued a $170.00 price objective (up from $115.00) on shares of GeneDx in a report on Wednesday, October 29th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $152.14.

Get Our Latest Stock Analysis on WGS

GeneDx Trading Up 6.1%

Shares of NASDAQ:WGS opened at $87.08 on Tuesday. The company’s 50-day moving average price is $111.12 and its two-hundred day moving average price is $124.65. GeneDx has a one year low of $55.17 and a one year high of $170.87. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.71 and a quick ratio of 2.59. The stock has a market capitalization of $2.52 billion, a PE ratio of 967.56 and a beta of 2.01.

GeneDx (NASDAQ:WGSGet Free Report) last announced its quarterly earnings data on Monday, February 23rd. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.03. GeneDx had a return on equity of 20.22% and a net margin of 0.52%.The company had revenue of $120.99 million during the quarter, compared to analysts’ expectations of $120.80 million. On average, equities analysts forecast that GeneDx will post 0.97 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Bryan Dechairo sold 5,961 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $85.70, for a total transaction of $510,857.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Katherine Stueland sold 10,857 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $143.89, for a total transaction of $1,562,213.73. Following the sale, the chief executive officer directly owned 14,237 shares of the company’s stock, valued at approximately $2,048,561.93. This trade represents a 43.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 30,961 shares of company stock worth $3,933,831. Company insiders own 29.60% of the company’s stock.

Hedge Funds Weigh In On GeneDx

Several hedge funds and other institutional investors have recently modified their holdings of WGS. Rhumbline Advisers lifted its holdings in GeneDx by 42.7% during the 2nd quarter. Rhumbline Advisers now owns 27,610 shares of the company’s stock worth $2,549,000 after buying an additional 8,258 shares during the period. Principal Financial Group Inc. raised its position in shares of GeneDx by 340.4% during the third quarter. Principal Financial Group Inc. now owns 59,624 shares of the company’s stock worth $6,424,000 after acquiring an additional 46,085 shares during the last quarter. Impax Asset Management Group plc acquired a new position in shares of GeneDx in the third quarter worth approximately $5,387,000. Legal & General Group Plc lifted its stake in shares of GeneDx by 55.9% in the second quarter. Legal & General Group Plc now owns 22,271 shares of the company’s stock worth $2,056,000 after acquiring an additional 7,987 shares during the period. Finally, Telemark Asset Management LLC bought a new stake in GeneDx in the third quarter valued at approximately $12,929,000. Institutional investors own 61.72% of the company’s stock.

GeneDx News Summary

Here are the key news stories impacting GeneDx this week:

About GeneDx

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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.

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Analyst Recommendations for GeneDx (NASDAQ:WGS)

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