GeneDx (NASDAQ:WGS) Shares Down 6.4% – Here’s Why

GeneDx Holdings Corp. (NASDAQ:WGS)’s stock price fell 6.4% during trading on Tuesday . The company traded as low as $138.01 and last traded at $140.9990. 215,307 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 879,596 shares. The stock had previously closed at $150.61.

Analyst Upgrades and Downgrades

WGS has been the subject of a number of recent analyst reports. Wells Fargo & Company set a $155.00 price objective on GeneDx and gave the stock an “equal weight” rating in a research report on Monday. Weiss Ratings reiterated a “sell (d)” rating on shares of GeneDx in a report on Wednesday, October 8th. BTIG Research boosted their price target on shares of GeneDx from $165.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Wall Street Zen lowered shares of GeneDx from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Guggenheim reissued a “buy” rating and issued a $170.00 price target (up previously from $115.00) on shares of GeneDx in a research report on Wednesday, October 29th. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $134.78.

GeneDx Price Performance

The company’s 50 day moving average is $140.74 and its 200 day moving average is $115.51. The stock has a market capitalization of $3.94 billion, a price-to-earnings ratio of 1,514.67 and a beta of 1.99. 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 (NASDAQ:WGS) last posted its earnings results on Tuesday, October 28th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.21. GeneDx had a return on equity of 20.22% and a net margin of 0.52%.The business had revenue of $116.74 million during the quarter, compared to the consensus estimate of $104.33 million. Research analysts anticipate that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Insider Activity at GeneDx

In related news, CEO Katherine Stueland sold 10,857 shares of GeneDx stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $143.89, for a total value of $1,562,213.73. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin Feeley sold 3,855 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $143.87, for a total value of $554,618.85. Following the transaction, the chief financial officer directly owned 8,731 shares in the company, valued at $1,256,128.97. This represents a 30.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 60,163 shares of company stock worth $9,339,792 over the last 90 days. Company insiders own 29.60% of the company’s stock.

Institutional Investors Weigh In On GeneDx

Institutional investors have recently made changes to their positions in the stock. Jones Financial Companies Lllp increased its holdings in shares of GeneDx by 664.3% in 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 in the last quarter. Quarry LP increased its holdings in GeneDx by 248.8% in the third 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. US Bancorp DE lifted its position in shares of GeneDx by 3,223.5% during the 1st quarter. US Bancorp DE now owns 565 shares of the company’s stock valued at $50,000 after acquiring an additional 548 shares during the period. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of GeneDx during the 3rd quarter worth approximately $65,000. Finally, AlphaQuest LLC grew its holdings in shares of GeneDx by 351.5% in the 2nd quarter. AlphaQuest LLC now owns 763 shares of the company’s stock worth $70,000 after acquiring an additional 594 shares during the period. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

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.