GeneDx (NASDAQ:WGS) Trading Down 6.3% – What’s Next?

GeneDx Holdings Corp. (NASDAQ:WGS)’s share price traded down 6.3% during mid-day trading on Wednesday . The stock traded as low as $104.41 and last traded at $105.68. 433,367 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 1,199,471 shares. The stock had previously closed at $112.76.

Analysts Set New Price Targets

WGS has been the topic of several research reports. Wells Fargo & Company boosted their price objective on shares of GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Craig Hallum lifted their target price on shares of GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. TD Cowen upped their price target on GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Finally, The Goldman Sachs Group raised their price objective on GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $72.33.

GeneDx Trading Down 5.7 %

The stock has a market cap of $2.63 billion, a PE ratio of -48.89 and a beta of 2.01. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25. The stock’s fifty day moving average price is $78.64 and its 200 day moving average price is $62.41.

GeneDx (NASDAQ:WGS) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.66. The business had revenue of $95.64 million for the quarter, compared to analysts’ expectations of $82.24 million. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. On average, sell-side analysts forecast that GeneDx Holdings Corp. will post 0.52 EPS for the current year.

Insider Activity at GeneDx

In other GeneDx news, CFO Kevin Feeley sold 1,137 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $76.37, for a total transaction of $86,832.69. Following the completion of the sale, the chief financial officer now directly owns 24,731 shares in the company, valued at approximately $1,888,706.47. The trade was a 4.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Katherine Stueland sold 51,420 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $94.48, for a total value of $4,858,161.60. Following the completion of the transaction, the chief executive officer now owns 1,720 shares in the company, valued at approximately $162,505.60. This trade represents a 96.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,584 shares of company stock valued at $11,336,520 over the last ninety days. Insiders own 27.30% of the company’s stock.

Institutional Trading of GeneDx

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of GeneDx by 18.5% during the 4th quarter. Vanguard Group Inc. now owns 1,006,210 shares of the company’s stock valued at $77,337,000 after purchasing an additional 156,768 shares during the period. Summit Partners Public Asset Management LLC boosted its holdings in shares of GeneDx by 336.9% in the fourth quarter. Summit Partners Public Asset Management LLC now owns 755,564 shares of the company’s stock worth $58,073,000 after buying an additional 582,619 shares during the last quarter. William Blair Investment Management LLC bought a new stake in GeneDx during the fourth quarter valued at approximately $51,496,000. Lord Abbett & CO. LLC bought a new stake in GeneDx during the fourth quarter valued at approximately $48,458,000. Finally, Fred Alger Management LLC increased its holdings in GeneDx by 38.5% during the fourth quarter. Fred Alger Management LLC now owns 546,054 shares of the company’s stock valued at $41,970,000 after buying an additional 151,824 shares during the last quarter. Hedge funds and other institutional investors 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.