TD Cowen Boosts GeneDx (NASDAQ:WGS) Price Target to $24.00

GeneDx (NASDAQ:WGS) had its price target lifted by TD Cowen from $14.00 to $24.00 in a research note released on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also weighed in on WGS. BTIG Research increased their price objective on shares of GeneDx from $15.00 to $19.00 and gave the stock a buy rating in a research report on Tuesday. The Goldman Sachs Group raised their price target on GeneDx to $11.00 and gave the stock a neutral rating in a research note on Monday, April 15th.

GeneDx Trading Up 0.8 %

Shares of NASDAQ WGS opened at $19.66 on Tuesday. The stock has a market capitalization of $512.14 million, a P/E ratio of -4.08 and a beta of 2.17. GeneDx has a 1-year low of $1.16 and a 1-year high of $21.71. The business’s 50 day moving average is $10.13 and its two-hundred day moving average is $5.40. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.22 and a quick ratio of 2.95.

GeneDx (NASDAQ:WGS) last released its quarterly earnings results on Tuesday, February 20th. The company reported ($0.59) earnings per share for the quarter, beating the consensus estimate of ($0.60) by $0.01. The company had revenue of $57.42 million for the quarter, compared to analyst estimates of $57.00 million. GeneDx had a negative return on equity of 36.23% and a negative net margin of 60.86%. As a group, research analysts expect that GeneDx will post -2.02 EPS for the current year.

Insider Transactions 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 acquired at an average price of $8.74 per share, with a total value of $349,600.00. Following the transaction, the director now owns 2,702,609 shares of the company’s stock, valued at $23,620,802.66. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Katherine Stueland sold 6,325 shares of GeneDx stock in a transaction on Monday, April 29th. The stock was sold at an average price of $11.04, for a total value of $69,828.00. Following the transaction, the chief executive officer now directly owns 75,869 shares in the company, valued at approximately $837,593.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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, 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 $23,620,802.66. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 21,249 shares of company stock valued at $228,370. 28.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On GeneDx

Large investors have recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. raised its stake in shares of GeneDx by 20.8% during the 1st quarter. Thompson Davis & CO. Inc. now owns 24,094 shares of the company’s stock worth $220,000 after acquiring an additional 4,150 shares in the last quarter. PFG Investments LLC purchased a new stake in shares of GeneDx during the 1st quarter valued at $95,000. HighTower Advisors LLC boosted its position in shares of GeneDx by 14.1% in the 3rd quarter. HighTower Advisors LLC now owns 237,948 shares of the company’s stock worth $865,000 after purchasing an additional 29,361 shares in the last quarter. Pathstone Family Office LLC grew its stake in GeneDx by 262.2% during the 3rd quarter. Pathstone Family Office LLC now owns 54,327 shares of the company’s stock worth $198,000 after buying an additional 39,327 shares during the last quarter. Finally, Trellus Management Company LLC increased 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 buying an additional 54,976 shares in 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.