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

GeneDx (NASDAQ:WGS) had its price target hoisted by equities researchers at BTIG Research from $11.00 to $15.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s target price would indicate a potential upside of 25.00% from the company’s current price.

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

GeneDx Trading Up 15.5 %

NASDAQ WGS opened at $12.00 on Monday. GeneDx has a fifty-two week low of $1.16 and a fifty-two week high of $12.57. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.95 and a current ratio of 3.10. The stock has a 50 day simple moving average of $8.87 and a two-hundred day simple moving average of $4.87. The stock has a market cap of $312.60 million, a P/E ratio of -1.61 and a beta of 2.75.

GeneDx (NASDAQ:WGS) last released its quarterly earnings data on Tuesday, February 20th. The company reported ($0.59) earnings per share 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 analysts’ expectations of $57.00 million. On average, analysts forecast that GeneDx will post -2.02 earnings per share for the current year.

Insider Activity at GeneDx

In other news, Director Casdin Capital, Llc purchased 40,000 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were purchased at an average cost of $8.74 per share, for a total transaction of $349,600.00. Following the purchase, the director now directly owns 2,702,609 shares in the company, valued at approximately $23,620,802.66. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other GeneDx news, Director Casdin Capital, Llc acquired 40,000 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was purchased at an average price of $8.74 per share, with a total value of $349,600.00. Following the completion of the purchase, the director now directly owns 2,702,609 shares in the company, valued at approximately $23,620,802.66. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin Feeley sold 3,253 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $10.59, for a total value of $34,449.27. Following the completion of the sale, the chief financial officer now owns 28,927 shares in the company, valued at $306,336.93. The disclosure for this sale can be found here. Insiders sold a total of 13,820 shares of company stock valued at $146,354 in the last 90 days. Corporate insiders own 28.10% of the company’s stock.

Institutional Investors Weigh In On GeneDx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC raised its holdings in shares of GeneDx by 14.1% in the third quarter. HighTower Advisors LLC now owns 237,948 shares of the company’s stock worth $865,000 after buying an additional 29,361 shares during the period. Oracle Investment Management Inc. grew its stake in GeneDx by 14.9% in the third quarter. Oracle Investment Management Inc. now owns 994,580 shares of the company’s stock worth $3,620,000 after purchasing an additional 128,731 shares in the last quarter. Pathstone Family Office LLC grew its stake in GeneDx by 262.2% in the third quarter. Pathstone Family Office LLC now owns 54,327 shares of the company’s stock worth $198,000 after purchasing an additional 39,327 shares in the last quarter. Trellus Management Company LLC boosted its position in GeneDx by 55.0% during the 3rd quarter. Trellus Management Company LLC now owns 155,012 shares of the company’s stock valued at $564,000 after acquiring an additional 54,976 shares in the last quarter. Finally, Decheng Capital LLC purchased a new stake in shares of GeneDx during the 4th quarter valued at $285,000. 61.72% of the stock is currently owned by hedge funds and other 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.