The Goldman Sachs Group Boosts GeneDx (NASDAQ:WGS) Price Target to $28.00

GeneDx (NASDAQ:WGS) had its price target hoisted by equities research analysts at The Goldman Sachs Group from $12.50 to $28.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential downside of 15.69% from the company’s previous close.

WGS has been the subject of several other research reports. Jefferies Financial Group initiated coverage on GeneDx in a research note on Monday, June 3rd. They set a “hold” rating and a $21.00 target price for the company. BTIG Research raised their price objective on GeneDx from $19.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Craig Hallum started coverage on GeneDx in a research note on Wednesday, July 10th. They issued a “buy” rating and a $43.00 price objective for the company. Finally, TD Cowen raised their price objective on GeneDx from $14.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.20.

GeneDx Trading Up 3.6 %

GeneDx stock traded up $1.15 during trading hours on Wednesday, hitting $33.21. The stock had a trading volume of 156,584 shares, compared to its average volume of 388,782. The company has a quick ratio of 2.99, a current ratio of 3.22 and a debt-to-equity ratio of 0.25. The stock has a market cap of $867.45 million, a price-to-earnings ratio of -6.41 and a beta of 2.29. GeneDx has a one year low of $1.16 and a one year high of $35.65. The business’s 50 day simple moving average is $25.49 and its 200-day simple moving average is $14.04.

GeneDx (NASDAQ:WGS) last posted its earnings results on Monday, April 29th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.35. The firm had revenue of $62.42 million during the quarter, compared to the consensus estimate of $49.80 million. GeneDx had a negative return on equity of 36.23% and a negative net margin of 60.86%. On average, equities analysts predict that GeneDx will post -0.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Opko Health, Inc. sold 50,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $26.63, for a total transaction of $1,331,500.00. Following the transaction, the insider now owns 3,508,603 shares of the company’s stock, valued at approximately $93,434,097.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Opko Health, Inc. sold 50,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $26.63, for a total transaction of $1,331,500.00. Following the sale, the insider now directly owns 3,508,603 shares in the company, valued at approximately $93,434,097.89. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Katherine Stueland sold 6,325 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $11.04, for a total value of $69,828.00. Following the transaction, the chief executive officer now owns 75,869 shares in the company, valued at $837,593.76. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 175,804 shares of company stock valued at $3,771,670 and have sold 121,505 shares valued at $3,211,829. Insiders own 28.10% of the company’s stock.

Hedge Funds Weigh In On GeneDx

Several institutional investors have recently modified their holdings of WGS. Thompson Davis & CO. Inc. increased its position in shares of GeneDx by 99.4% during the 4th quarter. Thompson Davis & CO. Inc. now owns 19,944 shares of the company’s stock valued at $55,000 after purchasing an additional 9,944 shares during the last quarter. PFG Investments LLC bought a new position in shares of GeneDx during the 1st quarter valued at about $95,000. Decheng Capital LLC bought a new position in shares of GeneDx during the 4th quarter valued at about $285,000. Legal Advantage Investments Inc. bought a new position in shares of GeneDx during the 2nd quarter valued at about $518,000. Finally, Gagnon Advisors LLC increased its position in shares of GeneDx by 41.6% during the 1st quarter. Gagnon Advisors LLC now owns 211,393 shares of the company’s stock valued at $1,930,000 after purchasing an additional 62,059 shares during the last quarter. 61.72% of the stock is currently owned by institutional investors.

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.