BTIG Research Cuts GeneDx (NASDAQ:WGS) Price Target to $170.00

GeneDx (NASDAQ:WGS) had its price objective reduced by BTIG Research from $200.00 to $170.00 in a research note published on Tuesday, MarketBeat reports. BTIG Research currently has a buy rating on the stock.

A number of other research analysts have also recently commented on WGS. Weiss Ratings reissued a “sell (d)” rating on shares of GeneDx in a report on Wednesday, January 21st. Guggenheim reiterated a “buy” rating and set a $170.00 price objective (up from $115.00) on shares of GeneDx in a research report on Wednesday, October 29th. Wall Street Zen lowered shares of GeneDx from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Canaccord Genuity Group boosted their target price on shares of GeneDx from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, December 22nd. Finally, Jefferies Financial Group set a $150.00 price target on shares of GeneDx in a report on Monday. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $150.71.

GeneDx Stock Up 3.1%

NASDAQ WGS opened at $81.38 on Tuesday. The business has a fifty day moving average price of $107.66 and a two-hundred day moving average price of $123.86. The stock has a market capitalization of $2.35 billion, a PE ratio of -108.51 and a beta of 2.00. GeneDx has a fifty-two week low of $55.17 and a fifty-two week high of $170.87. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.46 and a quick ratio of 2.59.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings results on Monday, February 23rd. The company reported $0.14 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 company had revenue of $120.99 million during the quarter, compared to analysts’ expectations of $120.80 million. Equities analysts expect that GeneDx will post 0.97 earnings per share for the current fiscal year.

Insider Activity at GeneDx

In other news, CFO Kevin Feeley sold 317 shares of the stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $93.99, for a total value of $29,794.83. Following the completion of the sale, the chief financial officer owned 9,168 shares of the company’s stock, valued at approximately $861,700.32. This represents a 3.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Bryan Dechairo sold 5,961 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $85.70, for a total value of $510,857.70. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 30,961 shares of company stock worth $3,933,831 over the last three months. Company insiders own 29.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Royal Bank of Canada boosted its position in shares of GeneDx by 30.2% during the 1st quarter. Royal Bank of Canada now owns 29,479 shares of the company’s stock valued at $2,611,000 after purchasing an additional 6,840 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in GeneDx by 6.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,641 shares of the company’s stock valued at $677,000 after buying an additional 453 shares during the period. NewEdge Advisors LLC lifted its stake in GeneDx by 270,700.0% in the first quarter. NewEdge Advisors LLC now owns 2,708 shares of the company’s stock valued at $240,000 after buying an additional 2,707 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of GeneDx by 67.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 28,224 shares of the company’s stock worth $2,500,000 after buying an additional 11,375 shares in the last quarter. Finally, AlphaQuest LLC grew its position in shares of GeneDx by 351.5% during the 2nd quarter. AlphaQuest LLC now owns 763 shares of the company’s stock worth $70,000 after buying an additional 594 shares during the period. 61.72% of the stock is owned by 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.