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

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

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

GeneDx Trading Up 7.8 %

Shares of GeneDx stock opened at $10.39 on Monday. The stock has a fifty day simple moving average of $8.71 and a 200 day simple moving average of $4.80. GeneDx has a 12-month low of $1.16 and a 12-month high of $12.24. The company has a market capitalization of $270.70 million, a P/E ratio of -1.40 and a beta of 2.75. The company has a current ratio of 3.10, a quick ratio of 2.95 and a debt-to-equity ratio of 0.23.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings results on Tuesday, February 20th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.01. GeneDx had a negative return on equity of 49.64% and a negative net margin of 86.77%. The business had revenue of $57.42 million during the quarter, compared to the consensus estimate of $57.00 million. On average, sell-side analysts anticipate that GeneDx will post -2.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other GeneDx news, Director Casdin Capital, Llc acquired 40,000 shares of the business’s stock in a transaction on Monday, March 4th. The shares were acquired at an average price of $8.74 per share, with a total value of $349,600.00. Following the completion of the transaction, the director now owns 2,702,609 shares in the company, valued at $23,620,802.66. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Katherine Stueland sold 8,559 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $10.59, for a total transaction of $90,639.81. Following the transaction, the chief executive officer now owns 66,698 shares of the company’s stock, valued at approximately $706,331.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Casdin Capital, Llc acquired 40,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were bought at an average price of $8.74 per share, for a total transaction of $349,600.00. Following the completion of the purchase, the director now owns 2,702,609 shares in the company, valued at approximately $23,620,802.66. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 13,820 shares of company stock valued at $146,354. Insiders own 28.10% of the company’s stock.

Institutional Trading of GeneDx

A number of hedge funds and other institutional investors have recently made changes to their positions in WGS. 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. 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. Oracle Investment Management Inc. increased its position in shares of GeneDx by 14.9% during the 3rd quarter. Oracle Investment Management Inc. now owns 994,580 shares of the company’s stock valued at $3,620,000 after purchasing an additional 128,731 shares during the last quarter. Finally, HighTower Advisors LLC increased its position in shares of GeneDx by 14.1% during the 3rd quarter. HighTower Advisors LLC now owns 237,948 shares of the company’s stock valued at $865,000 after purchasing an additional 29,361 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.