Craig Hallum Boosts GeneDx (NASDAQ:WGS) Price Target to $70.00

GeneDx (NASDAQ:WGS) had its price objective hoisted by research analysts at Craig Hallum from $46.00 to $70.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Craig Hallum’s target price suggests a potential upside of 19.15% from the stock’s current price.

A number of other brokerages have also commented on WGS. Wells Fargo & Company assumed coverage on GeneDx in a report on Tuesday, August 27th. They set an “equal weight” rating and a $34.00 price target on the stock. TD Cowen lifted their price target on GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. BTIG Research lifted their price target on GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group lifted their price target on GeneDx from $32.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Three investment 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 an average price target of $45.67.

GeneDx Stock Up 4.8 %

Shares of WGS stock traded up $2.67 during trading hours on Thursday, reaching $58.75. The company had a trading volume of 144,998 shares, compared to its average volume of 415,993. GeneDx has a 12 month low of $1.16 and a 12 month high of $61.96. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.38 and a quick ratio of 2.22. The business has a fifty day simple moving average of $42.26 and a 200-day simple moving average of $30.40. The company has a market cap of $1.53 billion, a price-to-earnings ratio of -11.34 and a beta of 2.32.

GeneDx (NASDAQ:WGS) last posted its earnings results on Tuesday, July 30th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.15. The company had revenue of $70.51 million for the quarter, compared to analyst estimates of $58.90 million. GeneDx had a negative return on equity of 22.71% and a negative net margin of 48.21%. On average, research analysts expect that GeneDx will post -0.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other GeneDx news, CEO Katherine Stueland sold 3,639 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $33.33, for a total value of $121,287.87. Following the completion of the sale, the chief executive officer now directly owns 95,457 shares of the company’s stock, valued at $3,181,581.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Kevin Feeley sold 895 shares of GeneDx stock in a transaction on Monday, September 9th. The stock was sold at an average price of $33.33, for a total value of $29,830.35. Following the completion of the transaction, the chief financial officer now directly owns 39,910 shares in the company, valued at approximately $1,330,200.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Katherine Stueland sold 3,639 shares of GeneDx stock in a transaction on Monday, September 9th. The shares were sold at an average price of $33.33, for a total value of $121,287.87. Following the completion of the transaction, the chief executive officer now owns 95,457 shares of the company’s stock, valued at approximately $3,181,581.81. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 468,668 shares of company stock valued at $15,575,988 over the last ninety days. 28.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On GeneDx

Several hedge funds have recently made changes to their positions in the stock. Oracle Investment Management Inc. grew its position in shares of GeneDx by 531.7% in the first quarter. Oracle Investment Management Inc. now owns 1,126,607 shares of the company’s stock valued at $10,286,000 after purchasing an additional 948,253 shares in the last quarter. Vanguard Group Inc. boosted its stake in GeneDx by 4.2% during the first quarter. Vanguard Group Inc. now owns 707,612 shares of the company’s stock valued at $6,460,000 after buying an additional 28,678 shares during the period. Gagnon Securities LLC boosted 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 buying an additional 207,027 shares during the period. Driehaus Capital Management LLC bought a new stake in GeneDx during the second quarter valued at $11,335,000. Finally, Assenagon Asset Management S.A. bought a new stake in GeneDx during the second quarter valued at $9,575,000. 61.72% of the stock is currently 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.