GeneDx (NASDAQ:WGS) Given New $70.00 Price Target at The Goldman Sachs Group

GeneDx (NASDAQ:WGS) had its price objective boosted by The Goldman Sachs Group from $54.00 to $70.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential downside of 13.46% from the stock’s current price.

A number of other analysts have also weighed in on the stock. BTIG Research raised their price objective on shares of GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Wells Fargo & Company raised their price target on shares of GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday. TD Cowen raised their price target on shares of GeneDx from $46.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Craig Hallum raised their price target on shares of GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, GeneDx presently has an average rating of “Moderate Buy” and an average price target of $59.33.

GeneDx Stock Down 3.7 %

Shares of GeneDx stock traded down $3.13 during trading on Wednesday, hitting $80.89. The company’s stock had a trading volume of 563,225 shares, compared to its average volume of 432,484. 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 company has a fifty day simple moving average of $44.67 and a two-hundred day simple moving average of $32.06. The company has a market capitalization of $2.11 billion, a PE ratio of -15.73 and a beta of 2.32. GeneDx has a 52 week low of $1.16 and a 52 week high of $89.06.

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

Insider Buying and Selling at GeneDx

In other GeneDx news, major shareholder Opko Health, Inc. sold 12,994 shares of GeneDx stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $29.35, for a total transaction of $381,373.90. Following the transaction, the insider now owns 2,971,570 shares of the company’s stock, valued at $87,215,579.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Opko Health, Inc. sold 12,994 shares of GeneDx stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $29.35, for a total transaction of $381,373.90. Following the sale, the insider now owns 2,971,570 shares in the company, valued at $87,215,579.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Katherine Stueland sold 3,639 shares of GeneDx 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 sale, the chief executive officer now owns 95,457 shares in the company, valued at approximately $3,181,581.81. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 267,401 shares of company stock valued at $8,794,447 over the last 90 days. 28.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On GeneDx

Institutional investors and hedge funds have recently modified their holdings of the stock. Oracle Investment Management Inc. increased its position in GeneDx by 531.7% in the first quarter. Oracle Investment Management Inc. now owns 1,126,607 shares of the company’s stock worth $10,286,000 after purchasing an additional 948,253 shares during the last quarter. Vanguard Group Inc. increased its position in GeneDx by 4.2% in the first quarter. Vanguard Group Inc. now owns 707,612 shares of the company’s stock worth $6,460,000 after purchasing an additional 28,678 shares during the last quarter. Gagnon Securities LLC increased its position in GeneDx by 59.3% in the first quarter. Gagnon Securities LLC now owns 556,305 shares of the company’s stock worth $5,079,000 after purchasing an additional 207,027 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in GeneDx during the second quarter worth $11,335,000. Finally, Assenagon Asset Management S.A. purchased a new position in GeneDx during the second quarter worth $9,575,000. 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.