GeneDx (NASDAQ:WGS - Get Free Report) had its target price hoisted by equities research analysts at Guggenheim from $88.00 to $115.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. Guggenheim's price objective would suggest a potential upside of 26.23% from the stock's previous close.
Other equities research analysts have also recently issued research reports about the company. Wells Fargo & Company cut their price target on GeneDx from $105.00 to $78.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Wall Street Zen downgraded GeneDx from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. TD Securities decreased their price target on shares of GeneDx from $135.00 to $110.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, Jefferies Financial Group raised shares of GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price objective for the company in a report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $90.13.
Check Out Our Latest Stock Analysis on GeneDx
GeneDx Stock Performance
WGS opened at $91.10 on Monday. The business's 50-day simple moving average is $74.52 and its 200 day simple moving average is $81.96. GeneDx has a 52-week low of $25.32 and a 52-week high of $117.75. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.07 and a current ratio of 3.25. The firm has a market capitalization of $2.60 billion, a PE ratio of -64.61 and a beta of 1.94.
GeneDx (NASDAQ:WGS - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.17. The company had revenue of $87.12 million for the quarter, compared to analyst estimates 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, sell-side analysts expect that GeneDx will post 0.97 earnings per share for the current fiscal year.
Insider Activity
In other GeneDx news, Director Keith A. Meister purchased 100,000 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were bought at an average price of $56.01 per share, for a total transaction of $5,601,000.00. Following the purchase, the director now owns 3,008,629 shares in the company, valued at approximately $168,513,310.29. This trade represents a 3.44% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevin Feeley sold 15,516 shares of the business's stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $92.18, for a total value of $1,430,264.88. Following the transaction, the chief financial officer now directly owns 1,726 shares of the company's stock, valued at $159,102.68. This trade represents a 89.99% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,022 shares of company stock worth $5,919,860. 29.60% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the business. Ameriprise Financial Inc. bought a new stake in shares of GeneDx during the 4th quarter valued at approximately $2,645,000. Envestnet Asset Management Inc. bought a new position in GeneDx in the 4th quarter valued at approximately $380,000. Prudential Financial Inc. acquired a new stake in GeneDx in the fourth quarter valued at approximately $7,938,000. Voya Investment Management LLC acquired a new stake in GeneDx in the fourth quarter valued at approximately $292,000. Finally, GAMMA Investing LLC grew its stake in shares of GeneDx by 22,194.3% during the first quarter. GAMMA Investing LLC now owns 38,792 shares of the company's stock worth $3,436,000 after buying an additional 38,618 shares during the last quarter. Institutional investors and hedge funds own 61.72% of the company's stock.
About GeneDx
(
Get Free Report)
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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