GeneDx (NASDAQ:WGS) PT Raised to $32.00 at The Goldman Sachs Group

GeneDx (NASDAQ:WGS) had its price objective increased by The Goldman Sachs Group from $28.00 to $32.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research firms also recently issued reports on WGS. TD Cowen increased their price target on GeneDx from $14.00 to $24.00 and gave the stock a buy rating in a research report on Tuesday, April 30th. BTIG Research increased their target price on shares of GeneDx from $19.00 to $35.00 and gave the stock a buy rating in a report on Wednesday, June 26th. Craig Hallum initiated coverage on shares of GeneDx in a report on Wednesday, July 10th. They issued a buy rating and a $43.00 price target for the company. Finally, Jefferies Financial Group assumed coverage on shares of GeneDx in a report on Monday, June 3rd. They set a hold rating and a $21.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, GeneDx has a consensus rating of Moderate Buy and an average price target of $38.80.

GeneDx Stock Down 6.8 %

Shares of NASDAQ WGS opened at $30.07 on Wednesday. The stock has a 50 day moving average price of $28.43 and a 200 day moving average price of $16.61. The firm has a market capitalization of $785.43 million, a price-to-earnings ratio of -5.81 and a beta of 2.29. GeneDx has a 52-week low of $1.16 and a 52-week high of $35.65. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.99 and a current ratio of 2.38.

Insider Activity

In other GeneDx news, major shareholder Opko Health, Inc. sold 50,000 shares of GeneDx stock in a transaction on Monday, July 1st. The shares were sold at an average price of $26.63, for a total value of $1,331,500.00. Following the transaction, the insider now directly owns 3,508,603 shares of the company’s stock, valued at $93,434,097.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Casdin Capital, Llc acquired 100,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were purchased at an average price of $20.82 per share, for a total transaction of $2,082,000.00. Following the completion of the acquisition, the director now directly owns 3,063,509 shares in the company, valued at approximately $63,782,257.38. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Opko Health, Inc. sold 50,000 shares of GeneDx stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $26.63, for a total transaction of $1,331,500.00. Following the completion of the sale, the insider now owns 3,508,603 shares of the company’s stock, valued at $93,434,097.89. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 175,804 shares of company stock worth $3,771,670 and have sold 490,343 shares worth $15,701,354. Company insiders own 28.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. nVerses Capital LLC acquired a new stake in shares of GeneDx during the second quarter worth about $50,000. PFG Investments LLC purchased a new position in GeneDx during the 1st quarter worth approximately $95,000. Rhumbline Advisers raised its position in GeneDx by 8,096.4% during the 2nd quarter. Rhumbline Advisers now owns 18,360 shares of the company’s stock worth $480,000 after buying an additional 18,136 shares during the last quarter. Legal Advantage Investments Inc. acquired a new stake in GeneDx during the 2nd quarter valued at approximately $518,000. Finally, Thompson Davis & CO. Inc. boosted its holdings in shares of GeneDx by 99.4% in the 4th quarter. Thompson Davis & CO. Inc. now owns 19,944 shares of the company’s stock valued at $55,000 after acquiring an additional 9,944 shares during the last quarter. Hedge funds and other institutional investors own 61.72% of the company’s stock.

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.