BTIG Research Raises GeneDx (NASDAQ:WGS) Price Target to $15.00

GeneDx (NASDAQ:WGS) had its target price raised by BTIG Research from $11.00 to $15.00 in a research report sent to investors on Monday, Benzinga reports. BTIG Research currently has a buy rating on the stock.

Separately, The Goldman Sachs Group boosted their price target on shares of GeneDx to $11.00 and gave the stock a neutral rating in a research report on Monday, April 15th.

GeneDx Trading Down 1.5 %

Shares of GeneDx stock opened at $11.82 on Monday. GeneDx has a 1 year low of $1.16 and a 1 year high of $12.57. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.10 and a quick ratio of 2.95. The firm has a fifty day moving average price of $9.02 and a 200 day moving average price of $4.91. The stock has a market cap of $307.91 million, a PE ratio of -1.59 and a beta of 2.75.

GeneDx (NASDAQ:WGS) last released its quarterly earnings data on Tuesday, February 20th. The company reported ($0.59) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.01. GeneDx had a negative net margin of 86.77% and a negative return on equity of 49.64%. The company had revenue of $57.42 million during the quarter, compared to analysts’ expectations of $57.00 million. Equities research analysts predict that GeneDx will post -2.02 earnings per share for the current year.

Insider Activity

In related news, CFO Kevin Feeley sold 3,253 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $10.59, for a total transaction of $34,449.27. Following the sale, the chief financial officer now directly owns 28,927 shares of the company’s stock, valued at approximately $306,336.93. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other GeneDx news, CEO Katherine Stueland sold 8,559 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $10.59, for a total transaction of $90,639.81. Following the completion of the transaction, the chief executive officer now owns 66,698 shares in the company, valued at approximately $706,331.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin Feeley sold 3,253 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $10.59, for a total transaction of $34,449.27. Following the transaction, the chief financial officer now owns 28,927 shares of the company’s stock, valued at approximately $306,336.93. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,820 shares of company stock valued at $146,354. Company insiders own 28.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in WGS. PFG Investments LLC acquired a new stake in GeneDx during the 1st quarter worth $95,000. Decheng Capital LLC purchased a new position in GeneDx in the fourth quarter worth $285,000. Thompson Davis & CO. Inc. raised its position in GeneDx by 99.4% in the fourth quarter. Thompson Davis & CO. Inc. now owns 19,944 shares of the company’s stock worth $55,000 after acquiring an additional 9,944 shares in the last quarter. Oracle Investment Management Inc. raised its position in GeneDx by 14.9% in the third quarter. Oracle Investment Management Inc. now owns 994,580 shares of the company’s stock worth $3,620,000 after acquiring an additional 128,731 shares in the last quarter. Finally, HighTower Advisors LLC raised its position in GeneDx by 14.1% in the third quarter. HighTower Advisors LLC now owns 237,948 shares of the company’s stock worth $865,000 after acquiring an additional 29,361 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.