GeneDx (NASDAQ:WGS) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Key Points

• Wells Fargo & Company has raised its price target for GeneDx stock from $78.00 to $95.00, maintaining an "equal weight" rating despite indicating a potential downside of approximately 2.89% from its previous close.
• Other analysts have positive outlooks on GeneDx, with Piper Sandler setting a $110.00 target price and Jefferies Financial Group upgrading to a "buy" rating with a target of $80.00.
• GeneDx shares recently experienced a 6.6% increase, closing at $97.83, and the company reported a quarterly EPS of $0.28, exceeding expectations.

GeneDx (NASDAQ:WGS - Free Report) had its target price hoisted by Wells Fargo & Company from $78.00 to $95.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

Other equities analysts have also recently issued research reports about the company. Piper Sandler assumed coverage on GeneDx in a report on Wednesday, July 9th. They set an "overweight" rating and a $110.00 price target for the company. TD Securities cut their price objective on shares of GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Wall Street Zen cut GeneDx from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Guggenheim restated a "buy" rating and set a $115.00 price objective (up previously from $88.00) on shares of GeneDx in a report on Monday, June 30th. Finally, Jefferies Financial Group upgraded 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 research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $100.38.

GeneDx Stock Down 2.6%

Shares of NASDAQ WGS traded down $2.67 during mid-day trading on Wednesday, hitting $99.28. The company had a trading volume of 184,854 shares, compared to its average volume of 1,088,829. The company has a market capitalization of $2.83 billion, a PE ratio of 1,985.40 and a beta of 2.01. The firm has a 50-day simple moving average of $79.42 and a two-hundred day simple moving average of $82.76. The company has a current ratio of 2.87, a quick ratio of 3.07 and a debt-to-equity ratio of 0.19. GeneDx has a one year low of $25.32 and a one year high of $117.75.

GeneDx (NASDAQ:WGS - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.40. The company had revenue of $102.69 million during the quarter, compared to analysts' expectations of $86.00 million. GeneDx had a return on equity of 16.51% and a net margin of 0.39%. On average, equities analysts expect that GeneDx will post 0.97 EPS for the current year.

Insider Transactions at GeneDx

In other GeneDx news, CFO Kevin Feeley sold 5,278 shares of the business's stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $93.00, for a total transaction of $490,854.00. Following the completion of the sale, the chief financial officer directly owned 3,392 shares of the company's stock, valued at approximately $315,456. The trade was a 60.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Katherine Stueland sold 9,657 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $90.94, for a total value of $878,207.58. Following the sale, the chief executive officer directly owned 4,940 shares of the company's stock, valued at $449,243.60. This represents a 66.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,411 shares of company stock valued at $2,085,051 in the last 90 days. 29.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Chung Wu Investment Group LLC boosted its holdings in GeneDx by 8.2% in the 2nd quarter. Chung Wu Investment Group LLC now owns 3,300 shares of the company's stock worth $305,000 after buying an additional 250 shares during the period. GAMMA Investing LLC boosted its holdings in GeneDx by 151.7% in the 1st quarter. GAMMA Investing LLC now owns 438 shares of the company's stock worth $39,000 after buying an additional 264 shares during the period. Palisades Investment Partners LLC boosted its holdings in GeneDx by 0.4% in the 1st quarter. Palisades Investment Partners LLC now owns 83,913 shares of the company's stock worth $7,432,000 after buying an additional 309 shares during the period. Sterling Capital Management LLC boosted its holdings in GeneDx by 877.8% in the 4th quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock worth $27,000 after buying an additional 316 shares during the period. Finally, MetLife Investment Management LLC boosted its holdings in GeneDx by 6.2% in the 4th quarter. MetLife Investment Management LLC now owns 7,750 shares of the company's stock worth $596,000 after buying an additional 453 shares during the period. 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.