GeneDx (NASDAQ:WGS) Research Coverage Started at Jefferies Financial Group

Jefferies Financial Group started coverage on shares of GeneDx (NASDAQ:WGS) in a research note issued to investors on Monday, Marketbeat reports. The firm issued a hold rating and a $21.00 price objective on the stock.

Several other analysts also recently weighed in on the company. BTIG Research boosted their price target on GeneDx from $15.00 to $19.00 and gave the company a buy rating in a research note on Tuesday, April 30th. TD Cowen upped their target price on GeneDx from $14.00 to $24.00 and gave the company a buy rating in a research report on Tuesday, April 30th. Finally, The Goldman Sachs Group raised their price target on shares of GeneDx to $11.00 and gave the stock a neutral rating in a research report on Monday, April 15th.

GeneDx Trading Up 13.2 %

NASDAQ WGS opened at $27.28 on Monday. The firm has a market cap of $712.61 million, a PE ratio of -5.27 and a beta of 2.21. GeneDx has a 52 week low of $1.16 and a 52 week high of $27.28. The company has a quick ratio of 2.99, a current ratio of 3.22 and a debt-to-equity ratio of 0.25. The company has a 50 day moving average price of $16.01 and a 200 day moving average price of $8.60.

GeneDx (NASDAQ:WGS) last announced its earnings results on Monday, April 29th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.35. GeneDx had a negative return on equity of 36.23% and a negative net margin of 60.86%. The firm had revenue of $62.42 million for the quarter, compared to the consensus estimate of $49.80 million. As a group, sell-side analysts forecast that GeneDx will post -2.02 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Casdin Capital, Llc purchased 50,000 shares of GeneDx stock in a transaction that occurred on Monday, May 13th. The stock was purchased at an average price of $23.31 per share, for a total transaction of $1,165,500.00. Following the transaction, the director now directly owns 2,753,509 shares in the company, valued at $64,184,294.79. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In other GeneDx news, CFO Kevin Feeley sold 3,253 shares of GeneDx stock in a transaction on Monday, March 18th. The shares were sold at an average price of $10.59, for a total transaction of $34,449.27. Following the sale, the chief financial officer now owns 28,927 shares of the company’s stock, valued at approximately $306,336.93. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Casdin Capital, Llc bought 50,000 shares of GeneDx stock in a transaction dated Monday, May 13th. The stock was acquired at an average price of $23.31 per share, with a total value of $1,165,500.00. Following the completion of the transaction, the director now directly owns 2,753,509 shares of the company’s stock, valued at $64,184,294.79. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 175,804 shares of company stock valued at $3,771,670 and sold 21,249 shares valued at $228,370. 28.10% of the stock is owned by insiders.

Institutional Investors Weigh In On GeneDx

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Oracle Investment Management Inc. grew its holdings in shares of GeneDx by 531.7% in the first quarter. Oracle Investment Management Inc. now owns 1,126,607 shares of the company’s stock valued at $10,286,000 after purchasing an additional 948,253 shares during the period. Gagnon Securities LLC increased its holdings in shares of GeneDx by 59.3% during the 1st quarter. Gagnon Securities LLC now owns 556,305 shares of the company’s stock worth $5,079,000 after buying an additional 207,027 shares during the last quarter. Decheng Capital LLC purchased a new stake in shares of GeneDx during the 4th quarter valued at approximately $285,000. Gagnon Advisors LLC lifted its holdings in GeneDx by 41.6% in the first quarter. Gagnon Advisors LLC now owns 211,393 shares of the company’s stock valued at $1,930,000 after acquiring an additional 62,059 shares during the last quarter. Finally, Pathstone Family Office LLC grew its position in GeneDx by 262.2% in the third quarter. Pathstone Family Office LLC now owns 54,327 shares of the company’s stock worth $198,000 after acquiring an additional 39,327 shares during the period. Institutional investors and hedge funds 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.