GeneDx (NASDAQ:WGS) Given New $46.00 Price Target at Craig Hallum

GeneDx (NASDAQ:WGS) had its price target raised by Craig Hallum from $43.00 to $46.00 in a research note released on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts also recently commented on the company. Jefferies Financial Group began coverage on GeneDx in a report on Monday, June 3rd. They issued a hold rating and a $21.00 price objective on the stock. BTIG Research upped their price objective on GeneDx from $19.00 to $35.00 and gave the company a buy rating in a research note on Wednesday, June 26th. The Goldman Sachs Group raised their target price on shares of GeneDx from $28.00 to $32.00 and gave the stock a neutral rating in a research note on Wednesday. Finally, TD Cowen increased their target price on GeneDx from $14.00 to $24.00 and gave the stock a buy rating in a research note on Tuesday, April 30th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, GeneDx currently has a consensus rating of Moderate Buy and a consensus price target of $38.80.

GeneDx Price Performance

NASDAQ:WGS opened at $30.07 on Wednesday. The stock has a 50 day moving average of $28.43 and a two-hundred day moving average of $16.61. GeneDx has a 12 month low of $1.16 and a 12 month high of $35.65. The company has a current ratio of 2.38, a quick ratio of 2.99 and a debt-to-equity ratio of 0.27. The firm has a market cap of $785.43 million, a P/E ratio of -5.81 and a beta of 2.29.

Insider Buying and Selling

In other GeneDx news, Director Casdin Capital, Llc acquired 100,000 shares of GeneDx stock in a transaction dated Monday, June 3rd. The stock was acquired at an average cost of $20.82 per share, for a total transaction of $2,082,000.00. Following the completion of the transaction, the director now owns 3,063,509 shares in the company, valued at approximately $63,782,257.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, major shareholder Opko Health, Inc. sold 88,839 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $33.50, for a total transaction of $2,976,106.50. Following the completion of the transaction, the insider now owns 2,984,564 shares of the company’s stock, valued at $99,982,894. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Casdin Capital, Llc acquired 100,000 shares of the stock in a transaction dated Monday, June 3rd. The stock was acquired at an average cost of $20.82 per share, for a total transaction of $2,082,000.00. Following the purchase, the director now directly owns 3,063,509 shares in the company, valued at $63,782,257.38. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 175,804 shares of company stock valued at $3,771,670 and have sold 490,343 shares valued at $15,701,354. Corporate insiders own 28.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Oracle Investment Management Inc. increased its position in GeneDx by 531.7% in the 1st quarter. Oracle Investment Management Inc. now owns 1,126,607 shares of the company’s stock worth $10,286,000 after purchasing an additional 948,253 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of GeneDx in the 2nd quarter valued at approximately $9,575,000. Gagnon Securities LLC increased its holdings in GeneDx by 59.3% in the first quarter. Gagnon Securities LLC now owns 556,305 shares of the company’s stock worth $5,079,000 after buying an additional 207,027 shares during the last quarter. Decheng Capital LLC bought a new position in GeneDx during the fourth quarter valued at approximately $285,000. Finally, Gagnon Advisors LLC lifted its stake in GeneDx by 41.6% in the first quarter. Gagnon Advisors LLC now owns 211,393 shares of the company’s stock valued at $1,930,000 after acquiring an additional 62,059 shares during the last quarter. 61.72% of the stock is 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.