GeneDx (WGS) – Investment Analysts’ Recent Ratings Updates

GeneDx (NASDAQ: WGS) has recently received a number of price target changes and ratings updates:

• 10/30/2024 – GeneDx had its price target raised by analysts at The Goldman Sachs Group, Inc. from $54.00 to $70.00. They now have a “neutral” rating on the stock.
• 10/30/2024 – GeneDx had its price target raised by analysts at Wells Fargo & Company from $34.00 to $75.00. They now have an “equal weight” rating on the stock.
• 10/30/2024 – GeneDx had its price target raised by analysts at Craig Hallum from $70.00 to $95.00. They now have a “buy” rating on the stock.
• 10/24/2024 – GeneDx had its price target raised by analysts at Craig Hallum from $46.00 to $70.00. They now have a “buy” rating on the stock.
• 10/16/2024 – GeneDx had its price target raised by analysts at The Goldman Sachs Group, Inc. from $32.00 to $54.00. They now have a “neutral” rating on the stock.

GeneDx Price Performance

Shares of WGS traded up $3.85 on Tuesday, reaching $77.24. The stock had a trading volume of 416,929 shares, compared to its average volume of 446,409. The firm has a 50-day moving average of $52.51 and a 200 day moving average of $36.30. The firm has a market capitalization of $2.12 billion, a PE ratio of -24.84 and a beta of 2.11. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25. GeneDx Holdings Corp. has a twelve month low of $1.16 and a twelve month high of $89.11.

GeneDx (NASDAQ:WGS) last issued its earnings results 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 business had revenue of $76.90 million for the quarter, compared to analyst estimates of $64.98 million. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. The business’s quarterly revenue was up 44.3% on a year-over-year basis. During the same period last year, the company posted ($0.82) EPS. Sell-side analysts expect that GeneDx Holdings Corp. will post -0.24 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Opko Health, Inc. sold 39,824 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $33.08, for a total transaction of $1,317,377.92. Following the sale, the insider now owns 2,746,972 shares of the company’s stock, valued at $90,869,833.76. 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 at the SEC website. In related news, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of GeneDx stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $75.00, for a total value of $64,935,000.00. Following the completion of the sale, the insider now owns 2,866,833 shares of the company’s stock, valued at approximately $215,012,475. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Opko Health, Inc. sold 39,824 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $33.08, for a total transaction of $1,317,377.92. Following the transaction, the insider now owns 2,746,972 shares in the company, valued at approximately $90,869,833.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 962,848 shares of company stock valued at $68,298,009 over the last quarter. Insiders own 27.30% of the company’s stock.

Institutional Investors Weigh In On GeneDx

Several large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its holdings in shares of GeneDx by 304.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 147,034 shares of the company’s stock worth $6,240,000 after buying an additional 110,666 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of GeneDx in the 3rd quarter valued at approximately $2,547,000. Royce & Associates LP acquired a new position in shares of GeneDx in the 3rd quarter valued at approximately $1,201,000. GSA Capital Partners LLP acquired a new position in shares of GeneDx in the 3rd quarter valued at approximately $322,000. Finally, Lisanti Capital Growth LLC acquired a new position in GeneDx during the 3rd quarter worth approximately $1,554,000. Institutional investors own 61.72% of the company’s stock.

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.