GeneDx (NASDAQ:WGS) Stock Price Expected to Rise, Piper Sandler Analyst Says

Key Points

• Piper Sandler analysts have raised GeneDx's target price from $120 to $140, indicating a potential upside of 9.14% from its current price, and rated the stock as "overweight."
• GeneDx recently exceeded analysts’ earnings expectations, reporting $0.50 EPS for the quarter, which is significantly above the estimated $0.10.
• Insider selling shows notable activity, with a director selling over 38,000 shares and decreases in holdings by key investors, indicating potential shifts in ownership dynamics.

GeneDx (NASDAQ:WGS - Get Free Report) had its target price increased by investment analysts at Piper Sandler from $120.00 to $140.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Piper Sandler's price target points to a potential upside of 9.14% from the stock's current price.

A number of other equities research analysts have also recently commented on WGS. Wall Street Zen upgraded shares of GeneDx from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Guggenheim restated a "buy" rating and set a $115.00 target price (up previously from $88.00) on shares of GeneDx in a research note on Monday, June 30th. Finally, Wells Fargo & Company raised their target price on shares of GeneDx from $78.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $104.13.

GeneDx Stock Performance

NASDAQ WGS traded up $5.07 on Thursday, reaching $128.27. 49,714 shares of the stock were exchanged, compared to its average volume of 1,020,721. GeneDx has a one year low of $34.94 and a one year high of $136.00. The firm has a market capitalization of $3.69 billion, a PE ratio of 2,571.90 and a beta of 2.04. The company's 50-day simple moving average is $106.30 and its two-hundred day simple moving average is $91.59. 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 (NASDAQ:WGS - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.40. GeneDx had a net margin of 0.39% and a return on equity of 16.51%. The company had revenue of $102.69 million for the quarter, compared to analysts' expectations of $86.00 million. GeneDx has set its FY 2025 guidance at EPS. Analysts expect that GeneDx will post 0.97 EPS for the current fiscal year.

Insider Buying and Selling at GeneDx

In other news, Director Jason Ryan sold 38,072 shares of the firm's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $127.30, for a total value of $4,846,565.60. Following the sale, the director directly owned 103,284 shares in the company, valued at approximately $13,148,053.20. This trade represents a 26.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Casdin Capital, Llc sold 500,000 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $120.90, for a total transaction of $60,450,000.00. Following the completion of the sale, the director owned 3,007,164 shares in the company, valued at $363,566,127.60. This represents a 14.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 561,641 shares of company stock worth $67,551,904. 29.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On GeneDx

A number of large investors have recently made changes to their positions in WGS. Summit Partners Public Asset Management LLC lifted its stake in GeneDx by 336.9% during the 4th quarter. Summit Partners Public Asset Management LLC now owns 755,564 shares of the company's stock valued at $58,073,000 after acquiring an additional 582,619 shares during the period. T. Rowe Price Investment Management Inc. acquired a new position in GeneDx during the first quarter worth $44,614,000. William Blair Investment Management LLC grew its stake in GeneDx by 37.2% during 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 acquiring an additional 442,414 shares in the last quarter. Alliancebernstein L.P. grew its stake in GeneDx by 3,054.5% during the 1st quarter. Alliancebernstein L.P. now owns 436,900 shares of the company's stock valued at $38,694,000 after acquiring an additional 423,050 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of GeneDx by 6,163.1% in the second quarter. Jennison Associates LLC now owns 397,896 shares of the company's stock valued at $36,730,000 after purchasing an additional 391,543 shares during the period. 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.

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