GeneDx (NASDAQ:WGS) Coverage Initiated by Analysts at Piper Sandler

Equities research analysts at Piper Sandler started coverage on shares of GeneDx (NASDAQ:WGS - Get Free Report) in a research report issued on Wednesday, MarketBeat Ratings reports. The brokerage set an "overweight" rating and a $110.00 price target on the stock. Piper Sandler's target price suggests a potential upside of 19.72% from the company's current price.

A number of other brokerages also recently weighed in on WGS. Wells Fargo & Company cut their price target on shares of GeneDx from $105.00 to $78.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Guggenheim reiterated a "buy" rating and issued a $115.00 target price (up from $88.00) on shares of GeneDx in a research note on Monday, June 30th. TD Securities decreased their price target on shares of GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Jefferies Financial Group upgraded GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price objective on the stock in a research note on Friday, May 9th. Finally, Wall Street Zen upgraded shares of GeneDx from a "hold" rating to a "buy" rating in a research note on Saturday. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $92.33.

GeneDx Stock Up 7.8%

Shares of WGS stock traded up $6.66 on Wednesday, hitting $91.88. The stock had a trading volume of 1,081,105 shares, compared to its average volume of 821,134. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.25 and a quick ratio of 3.07. The business has a 50 day moving average of $72.19 and a 200 day moving average of $82.51. GeneDx has a 12-month low of $25.32 and a 12-month high of $117.75. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of -65.16 and a beta of 2.01.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.11 by $0.17. The firm had revenue of $87.12 million for the quarter, compared to analysts' expectations of $79.90 million. GeneDx had a negative net margin of 11.69% and a positive return on equity of 10.17%. As a group, analysts expect that GeneDx will post 0.97 EPS for the current year.

Insider Transactions at GeneDx

In related news, CFO Kevin Feeley sold 1,344 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $91.12, for a total value of $122,465.28. Following the completion of the sale, the chief financial officer owned 7,425 shares in the company, valued at $676,566. The trade was a 15.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Keith A. Meister acquired 100,000 shares of the stock in a transaction on Thursday, May 8th. The shares were bought at an average price of $56.01 per share, with a total value of $5,601,000.00. Following the purchase, the director directly owned 3,008,629 shares of the company's stock, valued at $168,513,310.29. The trade was a 3.44% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders sold 13,913 shares of company stock worth $1,314,514. 29.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Ameriprise Financial Inc. bought a new stake in shares of GeneDx in the fourth quarter worth approximately $2,645,000. Envestnet Asset Management Inc. purchased a new stake in GeneDx in the fourth quarter worth approximately $380,000. Prudential Financial Inc. bought a new stake in GeneDx in the 4th quarter worth approximately $7,938,000. Voya Investment Management LLC purchased a new stake in GeneDx during the 4th quarter valued at $292,000. Finally, GAMMA Investing LLC lifted its holdings in shares of GeneDx by 22,194.3% during the 1st quarter. GAMMA Investing LLC now owns 38,792 shares of the company's stock valued at $3,436,000 after buying an additional 38,618 shares during the period. Hedge funds and other institutional investors own 61.72% of the company's stock.

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.