The Goldman Sachs Group Issues Positive Forecast for GeneDx (NASDAQ:WGS) Stock Price

GeneDx (NASDAQ:WGS) had its price objective lifted by The Goldman Sachs Group from $54.00 to $70.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

Several other equities analysts also recently issued reports on WGS. Wells Fargo & Company increased their price objective on shares of GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday. Craig Hallum raised their price target on shares of GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday. TD Cowen boosted their price objective on GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, BTIG Research increased their target price on GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.33.

GeneDx Price Performance

Shares of GeneDx stock opened at $83.20 on Wednesday. The firm has a market cap of $2.24 billion, a PE ratio of -26.75 and a beta of 2.32. The business has a 50-day moving average price of $45.65 and a 200 day moving average price of $32.42. The company has a quick ratio of 2.22, a current ratio of 2.38 and a debt-to-equity ratio of 0.27. GeneDx has a twelve month low of $1.16 and a twelve month high of $89.11.

GeneDx (NASDAQ:WGS) last announced its earnings results on Tuesday, July 30th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.15. The business had revenue of $70.51 million during the quarter, compared to the consensus estimate of $58.90 million. GeneDx had a negative return on equity of 22.71% and a negative net margin of 48.21%. Sell-side analysts predict that GeneDx will post -0.75 earnings per share for the current fiscal year.

Insider Activity at GeneDx

In other GeneDx news, CFO Kevin Feeley sold 895 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $33.33, for a total value of $29,830.35. Following the transaction, the chief financial officer now directly owns 39,910 shares of the company’s stock, valued at $1,330,200.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other GeneDx news, CFO Kevin Feeley sold 895 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 $29,830.35. Following the completion of the sale, the chief financial officer now directly owns 39,910 shares of the company’s stock, valued at $1,330,200.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Opko Health, Inc. sold 12,994 shares of GeneDx stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $29.35, for a total value of $381,373.90. Following the transaction, the insider now owns 2,971,570 shares in the company, valued at approximately $87,215,579.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 267,401 shares of company stock valued at $8,794,447. Corporate insiders own 27.30% 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 the company. Oracle Investment Management Inc. grew its position in GeneDx by 531.7% in the first quarter. Oracle Investment Management Inc. now owns 1,126,607 shares of the company’s stock worth $10,286,000 after acquiring an additional 948,253 shares during the period. Vanguard Group Inc. grew its holdings in shares of GeneDx by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 707,612 shares of the company’s stock worth $6,460,000 after purchasing an additional 28,678 shares during the period. Gagnon Securities LLC increased its position in shares of GeneDx by 59.3% during the 1st quarter. Gagnon Securities LLC now owns 556,305 shares of the company’s stock worth $5,079,000 after purchasing an additional 207,027 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in GeneDx in the 2nd quarter valued at about $11,335,000. Finally, Assenagon Asset Management S.A. acquired a new position in GeneDx in the second quarter valued at about $9,575,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

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.