Guggenheim Cuts GeneDx (NASDAQ:WGS) Price Target to $100.00

GeneDx (NASDAQ:WGS) had its price objective lowered by equities researchers at Guggenheim from $170.00 to $100.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s target price would suggest a potential upside of 65.49% from the stock’s current price.

WGS has been the subject of a number of other reports. Weiss Ratings reiterated a “sell (d)” rating on shares of GeneDx in a report on Wednesday, January 21st. Jefferies Financial Group set a $150.00 target price on GeneDx in a report on Monday, February 23rd. Canaccord Genuity Group raised their price objective on shares of GeneDx from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. BTIG Research lowered their price objective on shares of GeneDx from $200.00 to $170.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Finally, Wells Fargo & Company raised shares of GeneDx from an “equal weight” rating to an “overweight” rating and set a $155.00 target price on the stock in a research note on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $140.71.

GeneDx Trading Up 5.8%

WGS stock traded up $3.34 during trading on Monday, hitting $60.43. The company had a trading volume of 237,448 shares, compared to its average volume of 760,692. The company has a current ratio of 2.46, a quick ratio of 2.34 and a debt-to-equity ratio of 0.16. GeneDx has a one year low of $55.17 and a one year high of $170.87. The business has a 50-day moving average of $85.54 and a 200-day moving average of $116.57. The stock has a market cap of $1.77 billion, a PE ratio of -80.46 and a beta of 2.03.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings results on Monday, February 23rd. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. GeneDx had a negative net margin of 4.92% and a positive return on equity of 14.73%. The firm had revenue of $120.99 million for the quarter, compared to the consensus estimate of $120.80 million. Research analysts predict that GeneDx will post 0.97 earnings per share for the current fiscal year.

Insider Buying and Selling at GeneDx

In related news, COO Bryan Dechairo sold 5,961 shares of GeneDx stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $85.70, for a total transaction of $510,857.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Katherine Stueland sold 25,459 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $78.61, for a total value of $2,001,331.99. Following the completion of the sale, the chief executive officer directly owned 38,683 shares of the company’s stock, valued at $3,040,870.63. The trade was a 39.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 65,875 shares of company stock worth $5,280,990. Corporate insiders own 29.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Kestra Advisory Services LLC bought a new stake in shares of GeneDx in the fourth quarter valued at $27,000. Jones Financial Companies Lllp increased its holdings in GeneDx by 664.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock worth $25,000 after acquiring an additional 186 shares during the last quarter. Ramirez Asset Management Inc. purchased a new stake in GeneDx in the 4th quarter worth about $33,000. Greenline Wealth Management LLC bought a new stake in GeneDx in the 4th quarter valued at about $33,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in GeneDx during the fourth quarter valued at about $35,000. 61.72% of the stock is owned by institutional investors.

GeneDx Company Profile

GeneDx is a clinical diagnostics company specializing in comprehensive genetic and genomic testing for rare and inherited disorders. The company offers a broad portfolio of assays, including targeted gene panels, whole exome sequencing, whole genome sequencing and chromosomal microarray analysis. GeneDx’s laboratory services support the diagnosis of a wide range of conditions—from rare pediatric diseases and hereditary cancer syndromes to neuromuscular and metabolic disorders—by providing clinicians with detailed variant interpretation and reporting.

Founded in 2000 and based in Gaithersburg, Maryland, GeneDx was established with the aim of accelerating the translation of genomic discoveries into clinical care.