GeneDx (NASDAQ:WGS) Upgraded at Wall Street Zen

by · The Cerbat Gem

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

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

Read Our Latest Report on GeneDx

GeneDx Price Performance

Shares of GeneDx stock opened at $99.01 on Friday. The firm has a market capitalization of $2.86 billion, a PE ratio of 1,100.11 and a beta of 2.01. The company has a current ratio of 2.71, a quick ratio of 2.59 and a debt-to-equity ratio of 0.18. GeneDx has a 12 month low of $55.17 and a 12 month high of $170.87. The business’s 50-day moving average price is $132.47 and its 200-day moving average price is $125.01.

Insider Activity

In other news, CEO Katherine Stueland sold 10,857 shares of GeneDx stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $143.89, for a total value of $1,562,213.73. Following the completion of the sale, the chief executive officer directly owned 14,237 shares in the company, valued at $2,048,561.93. The trade was a 43.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joshua Ruch sold 38,000 shares of the stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $160.37, for a total transaction of $6,094,060.00. Following the transaction, the director owned 11,941 shares in the company, valued at approximately $1,914,978.17. This trade represents a 76.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 59,587 shares of company stock valued at $9,177,338 over the last ninety days. 29.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of WGS. Jones Financial Companies Lllp raised its stake in GeneDx by 664.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock valued at $25,000 after purchasing an additional 186 shares during the period. Quarry LP grew its holdings in GeneDx by 248.8% during the 3rd quarter. Quarry LP now owns 293 shares of the company’s stock valued at $32,000 after buying an additional 209 shares in the last quarter. Gordian Capital Singapore Pte Ltd bought a new stake in shares of GeneDx during the third quarter valued at approximately $65,000. AlphaQuest LLC lifted its holdings in shares of GeneDx by 351.5% in the second quarter. AlphaQuest LLC now owns 763 shares of the company’s stock worth $70,000 after buying an additional 594 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of GeneDx by 479.0% in the second quarter. Tower Research Capital LLC TRC now owns 1,818 shares of the company’s stock worth $168,000 after buying an additional 1,504 shares in the last quarter. Hedge funds and other institutional investors own 61.72% of the company’s stock.

About GeneDx

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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.

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