The Goldman Sachs Group Increases GeneDx (NASDAQ:WGS) Price Target to $70.00

GeneDx (NASDAQ:WGS) had its price target upped by The Goldman Sachs Group from $54.00 to $70.00 in a report published on Wednesday, Benzinga reports. The firm currently has a neutral rating on the stock.

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

GeneDx Trading Down 1.0 %

Shares of NASDAQ WGS opened at $83.20 on Wednesday. The company has a current ratio of 2.38, a quick ratio of 2.22 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $2.24 billion, a PE ratio of -26.75 and a beta of 2.32. GeneDx has a twelve month low of $1.16 and a twelve month high of $89.11. The stock has a fifty day simple moving average of $45.65 and a 200-day simple moving average of $32.42.

GeneDx (NASDAQ:WGS) last released its earnings results on Tuesday, July 30th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.15. The company had revenue of $70.51 million during the quarter, compared to the consensus estimate of $58.90 million. GeneDx had a negative return on equity of 22.71% and a negative net margin of 48.21%. On average, equities analysts forecast that GeneDx will post -0.75 earnings per share for the current year.

Insider Buying and Selling at GeneDx

In other news, CFO Kevin Feeley sold 895 shares of GeneDx stock in a transaction on Monday, September 9th. The shares were sold at an average price of $33.33, for a total transaction of $29,830.35. Following the completion of the sale, the chief financial officer now directly owns 39,910 shares of the company’s stock, valued at approximately $1,330,200.30. 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 the SEC website. In other news, CEO Katherine Stueland sold 3,639 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $33.33, for a total value of $121,287.87. Following the transaction, the chief executive officer now owns 95,457 shares in the company, valued at approximately $3,181,581.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kevin Feeley sold 895 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $33.33, for a total value of $29,830.35. Following the sale, the chief financial officer now owns 39,910 shares of the company’s stock, valued at approximately $1,330,200.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 267,401 shares of company stock valued at $8,794,447. Insiders own 27.30% of the company’s stock.

Institutional Trading of GeneDx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC purchased a new position in shares of GeneDx in the 2nd quarter valued at $34,000. nVerses Capital LLC purchased a new position in shares of GeneDx during the second quarter worth about $50,000. CWM LLC purchased a new position in shares of GeneDx during the third quarter worth about $89,000. SG Americas Securities LLC acquired a new stake in shares of GeneDx during the third quarter worth about $198,000. Finally, Palumbo Wealth Management LLC purchased a new stake in shares of GeneDx in the 3rd quarter valued at about $287,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

About GeneDx

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.