GeneDx (NASDAQ:WGS) Price Target Increased to $24.00 by Analysts at TD Cowen

GeneDx (NASDAQ:WGS - Get Free Report) had its target price boosted by equities research analysts at TD Cowen from $14.00 to $24.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. TD Cowen's target price suggests a potential upside of 40.60% from the company's current price.

A number of other equities research analysts have also issued reports on the stock. BTIG Research increased their target price on shares of GeneDx from $15.00 to $19.00 and gave the stock a "buy" rating in a report on Tuesday. The Goldman Sachs Group increased their target price on shares of GeneDx to $11.00 and gave the stock a "neutral" rating in a report on Monday, April 15th.

GeneDx Trading Up 55.2 %

Shares of GeneDx stock traded up $6.07 during mid-day trading on Tuesday, hitting $17.07. The stock had a trading volume of 7,282,556 shares, compared to its average volume of 325,185. The firm has a 50-day moving average of $9.63 and a two-hundred day moving average of $5.19. GeneDx has a 12-month low of $1.16 and a 12-month high of $18.24. The company has a quick ratio of 2.95, a current ratio of 3.10 and a debt-to-equity ratio of 0.23. The firm has a market cap of $444.67 million, a P/E ratio of -2.29 and a beta of 2.75.

GeneDx (NASDAQ:WGS - Get Free Report) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.59) EPS for the quarter, topping the consensus estimate of ($0.60) by $0.01. GeneDx had a negative net margin of 86.77% and a negative return on equity of 49.64%. The firm had revenue of $57.42 million for the quarter, compared to analyst estimates of $57.00 million. Sell-side analysts forecast that GeneDx will post -2.02 earnings per share for the current year.

Insiders Place Their Bets

In other GeneDx news, CEO Katherine Stueland sold 8,559 shares of the firm's stock in a transaction on Monday, March 18th. The shares were sold at an average price of $10.59, for a total transaction of $90,639.81. Following the transaction, the chief executive officer now directly owns 66,698 shares of the company's stock, valued at approximately $706,331.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Casdin Capital, Llc bought 40,000 shares of GeneDx stock in a transaction dated Monday, March 4th. The stock was bought at an average price of $8.74 per share, for a total transaction of $349,600.00. Following the purchase, the director now owns 2,702,609 shares of the company's stock, valued at $23,620,802.66. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Katherine Stueland sold 8,559 shares of the firm's stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $10.59, for a total transaction of $90,639.81. Following the completion of the sale, the chief executive officer now owns 66,698 shares of the company's stock, valued at approximately $706,331.82. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,249 shares of company stock valued at $228,370. Insiders own 28.10% of the company's stock.

Institutional Trading of GeneDx

Hedge funds and other institutional investors have recently made changes to their positions in the stock. HighTower Advisors LLC raised its position in GeneDx by 14.1% during the third quarter. HighTower Advisors LLC now owns 237,948 shares of the company's stock worth $865,000 after acquiring an additional 29,361 shares during the last quarter. Oracle Investment Management Inc. grew its holdings in shares of GeneDx by 14.9% during the third quarter. Oracle Investment Management Inc. now owns 994,580 shares of the company's stock worth $3,620,000 after buying an additional 128,731 shares in the last quarter. Pathstone Family Office LLC grew its holdings in shares of GeneDx by 262.2% during the third quarter. Pathstone Family Office LLC now owns 54,327 shares of the company's stock worth $198,000 after buying an additional 39,327 shares in the last quarter. Trellus Management Company LLC grew its holdings in shares of GeneDx by 55.0% during the third quarter. Trellus Management Company LLC now owns 155,012 shares of the company's stock worth $564,000 after buying an additional 54,976 shares in the last quarter. Finally, Thompson Davis & CO. Inc. grew its holdings in shares of GeneDx by 99.4% during the fourth quarter. Thompson Davis & CO. Inc. now owns 19,944 shares of the company's stock worth $55,000 after buying an additional 9,944 shares in the last quarter. Institutional investors and hedge funds 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.