GeneDx (NASDAQ:WGS) Price Target Raised to $140.00

GeneDx (NASDAQ:WGS) had its target price lifted by Wells Fargo & Company from $95.00 to $140.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other research firms have also commented on WGS. Zacks Research lowered shares of GeneDx from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 2nd. Weiss Ratings reissued a “sell (d)” rating on shares of GeneDx in a research report on Wednesday, October 8th. BTIG Research raised their target price on shares of GeneDx from $140.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Guggenheim reaffirmed a “buy” rating and issued a $170.00 price target (up from $115.00) on shares of GeneDx in a report on Wednesday, October 29th. Finally, Piper Sandler increased their price objective on GeneDx from $120.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, GeneDx has an average rating of “Moderate Buy” and an average price target of $129.22.

GeneDx Stock Performance

Shares of WGS stock opened at $138.70 on Tuesday. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of 1,541.11 and a beta of 2.01. GeneDx has a 52-week low of $55.17 and a 52-week high of $146.00. The company has a quick ratio of 2.59, a current ratio of 2.71 and a debt-to-equity ratio of 0.18. The company’s 50 day moving average is $125.21 and its 200 day moving average is $100.13.

GeneDx (NASDAQ:WGS) last announced its earnings results on Tuesday, October 28th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.21. The business had revenue of $116.74 million for the quarter, compared to analysts’ expectations of $104.33 million. GeneDx had a return on equity of 20.22% and a net margin of 0.52%. GeneDx has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that GeneDx will post 0.97 EPS for the current fiscal year.

Insider Transactions at GeneDx

In other news, CEO Katherine Stueland sold 2,158 shares of the stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $136.54, for a total value of $294,653.32. Following the transaction, the chief executive officer directly owned 3,436 shares of the company’s stock, valued at approximately $469,151.44. This represents a 38.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jason Ryan sold 38,072 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $127.30, for a total value of $4,846,565.60. Following the completion of the sale, the director owned 103,284 shares in the company, valued at approximately $13,148,053.20. This represents a 26.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 556,375 shares of company stock worth $67,569,247 in the last 90 days. 29.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On GeneDx

Several hedge funds have recently added to or reduced their stakes in WGS. Jones Financial Companies Lllp raised its stake in shares of GeneDx by 664.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock valued at $25,000 after buying an additional 186 shares during the last quarter. GAMMA Investing LLC raised its position in GeneDx by 151.7% during the first quarter. GAMMA Investing LLC now owns 438 shares of the company’s stock valued at $39,000 after acquiring an additional 264 shares in the last quarter. US Bancorp DE lifted its holdings in GeneDx by 3,223.5% in the first quarter. US Bancorp DE now owns 565 shares of the company’s stock valued at $50,000 after acquiring an additional 548 shares during the period. AlphaQuest LLC boosted its position in GeneDx by 351.5% in the 2nd quarter. AlphaQuest LLC now owns 763 shares of the company’s stock worth $70,000 after purchasing an additional 594 shares in the last quarter. Finally, KBC Group NV acquired a new stake in shares of GeneDx during the 1st quarter worth approximately $81,000. 61.72% of the stock is owned by hedge funds and other 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.