GeneDx (NASDAQ:WGS) Price Target Cut to $100.00 by Analysts at Guggenheim

GeneDx (NASDAQ:WGS) had its price target reduced by analysts at Guggenheim from $170.00 to $100.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price target indicates a potential upside of 65.49% from the stock’s current price.

A number of other equities analysts have also commented on the stock. Piper Sandler restated an “overweight” rating and issued a $130.00 price objective (down from $160.00) on shares of GeneDx in a research report on Tuesday, February 24th. Wells Fargo & Company raised shares of GeneDx from an “equal weight” rating to an “overweight” rating and set a $155.00 price target for the company in a report on Monday, February 9th. BTIG Research reduced their price target on shares of GeneDx from $200.00 to $170.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. Wall Street Zen downgraded GeneDx from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of GeneDx in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, GeneDx currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.71.

GeneDx Stock Performance

Shares of NASDAQ:WGS traded up $3.34 during trading on Monday, hitting $60.43. 237,448 shares of the company were exchanged, compared to its average volume of 760,692. GeneDx has a 52-week low of $55.17 and a 52-week high of $170.87. The stock has a 50 day moving average of $85.54 and a 200 day moving average of $116.57. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.46 and a quick ratio of 2.34. The company has a market cap of $1.77 billion, a PE ratio of -80.46 and a beta of 2.03.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings data on Monday, February 23rd. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. GeneDx had a positive return on equity of 14.73% and a negative net margin of 4.92%.The business had revenue of $120.99 million for the quarter, compared to analysts’ expectations of $120.80 million. As a group, equities research analysts predict that GeneDx will post 0.97 EPS for the current year.

Insider Activity at GeneDx

In other news, CEO Katherine Stueland sold 17,179 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $76.80, for a total value of $1,319,347.20. Following the completion of the transaction, the chief executive officer directly owned 58,447 shares in the company, valued at approximately $4,488,729.60. This represents a 22.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevin Feeley sold 5,706 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $76.80, for a total value of $438,220.80. Following the transaction, the chief financial officer directly owned 27,148 shares in the company, valued at approximately $2,084,966.40. This represents a 17.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 65,875 shares of company stock valued at $5,280,990. 29.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Westfield Capital Management Co. LP boosted its holdings in GeneDx by 87.1% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,018,261 shares of the company’s stock valued at $132,435,000 after acquiring an additional 474,167 shares in the last quarter. ARK Investment Management LLC purchased a new stake in GeneDx in the third quarter worth about $48,157,000. Franklin Resources Inc. lifted its holdings in GeneDx by 60.4% in the fourth quarter. Franklin Resources Inc. now owns 1,092,988 shares of the company’s stock worth $142,154,000 after buying an additional 411,607 shares during the period. Invesco Ltd. boosted its position in GeneDx by 59.2% during the 4th quarter. Invesco Ltd. now owns 786,466 shares of the company’s stock valued at $102,288,000 after acquiring an additional 292,394 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of GeneDx during the 3rd quarter worth approximately $31,488,000. 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.