GeneDx (NASDAQ:WGS) Given a $120.00 Price Target at Piper Sandler

Key Points

• Piper Sandler has raised GeneDx's price target from $110.00 to $120.00, indicating a potential upside of 13.80% from the current price, along with an "overweight" rating on the stock.
• The stock has received mixed ratings from analysts, with two holding ratings, seven buy ratings, and an average consensus price target of $101.63.
• GeneDx recently reported earnings of $0.50 per share, significantly exceeding the consensus estimate, and generated revenues of $102.69 million for the quarter, outperforming analyst expectations.

Piper Sandler set a $120.00 price target on GeneDx (NASDAQ:WGS - Free Report) in a research note released on Monday morning, MarketBeat reports. The brokerage currently has an overweight rating on the stock.

A number of other equities research analysts have also recently issued reports on WGS. Wall Street Zen upgraded GeneDx from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. TD Securities decreased their price target on GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Guggenheim reaffirmed a "buy" rating and issued a $115.00 price target (up previously from $88.00) on shares of GeneDx in a research report on Monday, June 30th. Jefferies Financial Group raised shares of GeneDx from a "hold" rating to a "buy" rating and set a $80.00 target price on the stock in a research report on Friday, May 9th. Finally, Wells Fargo & Company raised their price target 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. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $101.63.

GeneDx Price Performance

Shares of WGS stock traded up $1.04 during trading hours on Monday, hitting $106.89. The company had a trading volume of 203,758 shares, compared to its average volume of 1,081,832. GeneDx has a 12 month low of $28.86 and a 12 month high of $117.75. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of 2,146.30 and a beta of 2.02. The firm's fifty day moving average is $82.21 and its 200 day moving average is $83.73. 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 quarterly earnings results on Tuesday, July 29th. The company reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.40. The company had revenue of $102.69 million for the quarter, compared to the consensus estimate of $86.00 million. GeneDx had a return on equity of 16.51% and a net margin of 0.39%. On average, sell-side analysts predict that GeneDx will post 0.97 EPS for the current fiscal year.

Insider Buying and Selling at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 2,154 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $105.31, for a total value of $226,837.74. Following the sale, the chief executive officer owned 3,440 shares in the company, valued at $362,266.40. The trade was a 38.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin Feeley sold 388 shares of the business's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $105.31, for a total transaction of $40,860.28. Following the completion of the sale, the chief financial officer owned 3,757 shares in the company, valued at approximately $395,649.67. This trade represents a 9.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,411 shares of company stock worth $2,085,051 over the last 90 days. Insiders own 29.60% of the company's stock.

Institutional Trading of GeneDx

Several institutional investors have recently modified their holdings of WGS. Sterling Capital Management LLC boosted its holdings in shares of GeneDx by 877.8% during the fourth quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock valued at $27,000 after acquiring an additional 316 shares during the period. GAMMA Investing LLC grew its holdings in shares of GeneDx by 151.7% during the 1st quarter. GAMMA Investing LLC now owns 438 shares of the company's stock worth $39,000 after purchasing an additional 264 shares in the last quarter. Lazard Asset Management LLC bought a new position in GeneDx during the 4th quarter valued at approximately $35,000. US Bancorp DE boosted its stake in GeneDx by 3,223.5% during the 1st quarter. US Bancorp DE now owns 565 shares of the company's stock valued at $50,000 after purchasing an additional 548 shares during the last quarter. Finally, Comerica Bank purchased a new position in shares of GeneDx in the 4th quarter worth $50,000. 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.