BTIG Research Increases GeneDx (NASDAQ:WGS) Price Target to $140.00

Key Points

• BTIG Research has raised its price target for GeneDx (NASDAQ:WGS) from $125.00 to $140.00, maintaining a "buy" rating, indicating a potential upside of 14.97% from the current price.
• Despite the positive outlook from BTIG, Weiss Ratings has reiterated a "sell" rating, while other firms like Canaccord Genuity and Piper Sandler have set higher price targets at $155.00 and $140.00, respectively.
• GeneDx's latest earnings exceeded expectations, reporting $0.50 EPS against a consensus estimate of $0.10, with revenue of $102.69 million compared to the forecasted $86.00 million.

GeneDx (NASDAQ:WGS - Get Free Report) had its price objective boosted by stock analysts at BTIG Research from $125.00 to $140.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. BTIG Research's price target suggests a potential upside of 14.97% from the stock's current price.

Several other research firms have also recently issued reports on WGS. Weiss Ratings reiterated a "sell (d)" rating on shares of GeneDx in a research report on Wednesday, October 8th. Canaccord Genuity Group set a $155.00 target price on GeneDx and gave the stock a "buy" rating in a research report on Monday. Piper Sandler increased their target price on GeneDx from $120.00 to $140.00 and gave the stock an "overweight" rating in a research report on Thursday, September 11th. Guggenheim restated a "buy" rating and set a $115.00 price target (up previously from $88.00) on shares of GeneDx in a report on Monday, June 30th. Finally, Wells Fargo & Company raised their price target on GeneDx from $78.00 to $95.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Eight equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, GeneDx presently has an average rating of "Moderate Buy" and a consensus target price of $112.80.

GeneDx Stock Performance

NASDAQ:WGS opened at $121.77 on Wednesday. The company has a current ratio of 2.87, a quick ratio of 2.70 and a debt-to-equity ratio of 0.19. GeneDx has a 12-month low of $55.17 and a 12-month high of $136.00. The stock has a 50-day moving average price of $123.17 and a 200 day moving average price of $96.91. The stock has a market capitalization of $3.50 billion, a P/E ratio of 2,435.40 and a beta of 1.98.

GeneDx (NASDAQ:WGS - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.40. GeneDx had a return on equity of 16.51% and a net margin of 0.39%.The firm had revenue of $102.69 million during the quarter, compared to analysts' expectations of $86.00 million. GeneDx has set its FY 2025 guidance at EPS. Equities research analysts forecast that GeneDx will post 0.97 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Katherine Stueland sold 10,501 shares of the firm's stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $121.47, for a total value of $1,275,556.47. Following the completion of the sale, the chief executive officer directly owned 14,578 shares of the company's stock, valued at $1,770,789.66. This trade represents a 41.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Casdin Capital, Llc sold 500,000 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $120.90, for a total value of $60,450,000.00. Following the completion of the sale, the director directly owned 3,007,164 shares of the company's stock, valued at $363,566,127.60. The trade was a 14.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 556,371 shares of company stock valued at $67,489,314 over the last quarter. Company insiders own 29.60% of the company's stock.

Institutional Investors Weigh In On GeneDx

Several institutional investors have recently modified their holdings of the stock. William Blair Investment Management LLC lifted its stake in shares of GeneDx by 37.2% in the 2nd quarter. William Blair Investment Management LLC now owns 1,631,402 shares of the company's stock valued at $150,595,000 after purchasing an additional 442,414 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of GeneDx by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 1,031,326 shares of the company's stock worth $91,339,000 after acquiring an additional 25,116 shares during the last quarter. Westfield Capital Management Co. LP lifted its stake in shares of GeneDx by 164.8% during the 2nd quarter. Westfield Capital Management Co. LP now owns 589,188 shares of the company's stock worth $54,388,000 after acquiring an additional 366,711 shares during the last quarter. Zweig DiMenna Associates LLC lifted its stake in shares of GeneDx by 28.2% during the 2nd quarter. Zweig DiMenna Associates LLC now owns 586,100 shares of the company's stock worth $54,103,000 after acquiring an additional 129,000 shares during the last quarter. Finally, Fred Alger Management LLC lifted its stake in shares of GeneDx by 2.0% during the 1st quarter. Fred Alger Management LLC now owns 557,018 shares of the company's stock worth $49,332,000 after acquiring an additional 10,964 shares during the last quarter. 61.72% of the stock is 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.

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