GeneDx (NASDAQ:WGS) PT Raised to $50.00 at TD Cowen

GeneDx (NASDAQ:WGS) had its target price hoisted by TD Cowen from $46.00 to $50.00 in a report issued on Wednesday morning, Benzinga reports. TD Cowen currently has a buy rating on the stock.

WGS has been the subject of a number of other reports. Craig Hallum increased their target price on shares of GeneDx from $43.00 to $46.00 and gave the company a buy rating in a report on Wednesday. The Goldman Sachs Group lifted their price objective on GeneDx from $28.00 to $32.00 and gave the stock a neutral rating in a report on Wednesday. Jefferies Financial Group initiated coverage on GeneDx in a report on Monday, June 3rd. They issued a hold rating and a $21.00 target price on the stock. Finally, BTIG Research raised their price target on GeneDx from $35.00 to $45.00 and gave the company a buy rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $38.80.

GeneDx Price Performance

GeneDx stock opened at $30.07 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.38 and a quick ratio of 2.99. The business has a 50 day simple moving average of $28.43 and a 200-day simple moving average of $16.61. GeneDx has a 12 month low of $1.16 and a 12 month high of $35.65. The stock has a market capitalization of $785.43 million, a PE ratio of -5.81 and a beta of 2.29.

Insider Activity at GeneDx

In related news, Director Casdin Capital, Llc purchased 7,500 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was purchased at an average price of $19.59 per share, for a total transaction of $146,925.00. Following the acquisition, the director now directly owns 2,761,009 shares in the company, valued at $54,088,166.31. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Katherine Stueland sold 2,652 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $24.92, for a total value of $66,087.84. Following the transaction, the chief executive officer now owns 79,763 shares in the company, valued at $1,987,693.96. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Casdin Capital, Llc purchased 7,500 shares of GeneDx stock in a transaction that occurred on Thursday, May 23rd. The stock was acquired at an average cost of $19.59 per share, with a total value of $146,925.00. Following the acquisition, the director now directly owns 2,761,009 shares of the company’s stock, valued at approximately $54,088,166.31. The disclosure for this purchase can be found here. In the last three months, insiders purchased 175,804 shares of company stock worth $3,771,670 and sold 490,343 shares worth $15,701,354. 28.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in WGS. Oracle Investment Management Inc. increased its holdings in shares of GeneDx by 531.7% in the 1st quarter. Oracle Investment Management Inc. now owns 1,126,607 shares of the company’s stock valued at $10,286,000 after acquiring an additional 948,253 shares during the last quarter. Vanguard Group Inc. boosted its holdings 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 period. Gagnon Securities LLC increased its stake in GeneDx by 59.3% during the first quarter. Gagnon Securities LLC now owns 556,305 shares of the company’s stock valued at $5,079,000 after purchasing an additional 207,027 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of GeneDx during the second quarter worth $9,575,000. Finally, Gagnon Advisors LLC lifted its position in shares of GeneDx by 41.6% in the 1st quarter. Gagnon Advisors LLC now owns 211,393 shares of the company’s stock worth $1,930,000 after buying an additional 62,059 shares during the last quarter. 61.72% of the stock is currently owned by institutional investors.

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.