GeneDx (NASDAQ:WGS) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of GeneDx (NASDAQ:WGS) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

A number of other research firms also recently weighed in on WGS. Wells Fargo & Company set a $155.00 target price on shares of GeneDx and gave the stock an “equal weight” rating in a research report on Monday, December 15th. BTIG Research boosted their price objective on shares of GeneDx from $165.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Weiss Ratings restated a “sell (d)” rating on shares of GeneDx in a report on Wednesday, January 21st. Canaccord Genuity Group lifted their target price on shares of GeneDx from $160.00 to $170.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Finally, Guggenheim reissued a “buy” rating and issued a $170.00 price target (up from $115.00) on shares of GeneDx in a research report on Wednesday, October 29th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $138.13.

GeneDx Trading Down 1.9%

WGS opened at $96.26 on Friday. The company has a quick ratio of 2.59, a current ratio of 2.71 and a debt-to-equity ratio of 0.18. GeneDx has a 52 week low of $55.17 and a 52 week high of $170.87. The stock has a market cap of $2.78 billion, a PE ratio of 1,069.56 and a beta of 2.01. The business has a 50 day moving average of $133.71 and a 200-day moving average of $124.57.

Insider Buying and Selling at GeneDx

In other GeneDx news, Director Joshua Ruch sold 38,000 shares of GeneDx stock in a transaction on Monday, November 24th. The stock was sold at an average price of $160.37, for a total value of $6,094,060.00. Following the completion of the sale, the director owned 11,941 shares of the company’s stock, valued at approximately $1,914,978.17. This trade represents a 76.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin Feeley sold 3,855 shares of the stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $143.87, for a total value of $554,618.85. Following the sale, the chief financial officer directly owned 8,731 shares in the company, valued at $1,256,128.97. This trade represents a 30.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 57,617 shares of company stock worth $8,992,161. Insiders own 29.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. ARK Investment Management LLC purchased a new stake in GeneDx in the third quarter worth approximately $48,157,000. William Blair Investment Management LLC boosted its stake in shares of GeneDx by 37.2% in the 2nd quarter. William Blair Investment Management LLC now owns 1,631,402 shares of the company’s stock worth $150,595,000 after buying an additional 442,414 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of GeneDx by 6,163.1% in the second quarter. Jennison Associates LLC now owns 397,896 shares of the company’s stock worth $36,730,000 after acquiring an additional 391,543 shares during the period. Westfield Capital Management Co. LP increased its position in GeneDx by 164.8% during the second quarter. Westfield Capital Management Co. LP now owns 589,188 shares of the company’s stock valued at $54,388,000 after acquiring an additional 366,711 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in GeneDx by 101.9% during the third quarter. Franklin Resources Inc. now owns 681,381 shares of the company’s stock valued at $73,412,000 after acquiring an additional 343,954 shares during the last quarter. 61.72% of the stock is owned by hedge funds and other institutional investors.

About GeneDx

GeneDx is a clinical diagnostics company specializing in comprehensive genetic and genomic testing for rare and inherited disorders. The company offers a broad portfolio of assays, including targeted gene panels, whole exome sequencing, whole genome sequencing and chromosomal microarray analysis. GeneDx’s laboratory services support the diagnosis of a wide range of conditions—from rare pediatric diseases and hereditary cancer syndromes to neuromuscular and metabolic disorders—by providing clinicians with detailed variant interpretation and reporting.

Founded in 2000 and based in Gaithersburg, Maryland, GeneDx was established with the aim of accelerating the translation of genomic discoveries into clinical care.