GeneDx (NASDAQ:WGS) Price Target Raised to $140.00 at Piper Sandler

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 - Free Report) had its price objective boosted by Piper Sandler from $120.00 to $140.00 in a report issued on Thursday, Marketbeat reports. Piper Sandler currently has an overweight rating on the stock.

Several other equities analysts have also recently weighed in on the company. Guggenheim restated a "buy" rating and set a $115.00 price objective (up from $88.00) on shares of GeneDx in a research note on Monday, June 30th. Wall Street Zen raised shares of GeneDx from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Wells Fargo & Company upped their target price on GeneDx from $78.00 to $95.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $104.13.

GeneDx Stock Up 0.1%

Shares of GeneDx stock traded up $0.18 during trading hours on Thursday, reaching $122.22. The company's stock had a trading volume of 410,183 shares, compared to its average volume of 1,011,717. The company has a market capitalization of $3.51 billion, a P/E ratio of 2,437.60 and a beta of 2.03. The stock's fifty day simple moving average is $108.36 and its two-hundred day simple moving average is $92.01. GeneDx has a one year low of $35.88 and a one year high of $136.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.70 and a current ratio of 2.87.

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

Insiders Place Their Bets

In related news, CFO Kevin Feeley sold 378 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $125.81, for a total value of $47,556.18. Following the sale, the chief financial officer directly owned 4,096 shares of the company's stock, valued at $515,317.76. This trade represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Casdin Capital, Llc sold 500,000 shares of GeneDx stock in a transaction that occurred on 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 sale, the director owned 3,007,164 shares of the company's stock, valued at approximately $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. In the last quarter, insiders sold 561,641 shares of company stock worth $67,551,904. 29.60% of the stock is currently owned by insiders.

Institutional Trading of GeneDx

A number of hedge funds have recently made changes to their positions in the stock. William Blair Investment Management LLC raised its position in GeneDx by 37.2% during the second 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 in the last quarter. Vanguard Group Inc. increased its position 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 valued at $91,339,000 after purchasing an additional 25,116 shares during the last quarter. Summit Partners Public Asset Management LLC raised its holdings in shares of 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 buying an additional 582,619 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings 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 valued at $54,388,000 after buying an additional 366,711 shares in the last quarter. Finally, Zweig DiMenna Associates LLC lifted its position in GeneDx by 28.2% in the 2nd quarter. Zweig DiMenna Associates LLC now owns 586,100 shares of the company's stock worth $54,103,000 after buying an additional 129,000 shares during the last quarter. 61.72% of the stock is owned by 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.