GeneDx (NASDAQ:WGS) Trading Down 8.9% – Time to Sell?

GeneDx Holdings Corp. (NASDAQ:WGS)’s stock price fell 8.9% during trading on Tuesday . The stock traded as low as $112.96 and last traded at $108.5780. 137,763 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 555,672 shares. The stock had previously closed at $119.24.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on WGS shares. Zacks Research lowered shares of GeneDx from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 2nd. Canaccord Genuity Group raised their price objective on GeneDx from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, December 22nd. Wells Fargo & Company set a $155.00 target price on shares of GeneDx and gave the stock an “equal weight” rating in a report on Monday, December 15th. Weiss Ratings restated a “sell (d)” rating on shares of GeneDx in a report on Wednesday, October 8th. Finally, Guggenheim reiterated a “buy” rating and set a $170.00 price objective (up previously from $115.00) on shares of GeneDx in a research note on Wednesday, October 29th. Six 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $138.13.

GeneDx Trading Down 6.8%

The stock has a market cap of $3.21 billion, a price-to-earnings ratio of 1,219.03 and a beta of 2.01. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.71 and a quick ratio of 2.59. The company’s fifty day moving average price is $143.10 and its 200-day moving average price is $123.40.

GeneDx (NASDAQ:WGS) last released its earnings results on Tuesday, October 28th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.21. The company had revenue of $116.74 million for the quarter, compared to the consensus estimate of $104.33 million. GeneDx had a net margin of 0.52% and a return on equity of 20.22%. On average, research analysts expect that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Insiders Place Their Bets

In other GeneDx news, Director Joshua Ruch sold 38,000 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $160.37, for a total transaction of $6,094,060.00. Following the sale, the director owned 11,941 shares in the company, valued at approximately $1,914,978.17. The trade was a 76.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Katherine Stueland sold 10,857 shares of GeneDx stock in a transaction dated 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 of the company’s stock, valued at $2,048,561.93. This trade represents a 43.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 60,163 shares of company stock valued at $9,339,792. 29.60% of the stock is owned by company insiders.

Institutional Trading of GeneDx

Hedge funds and other institutional investors have recently made changes to their positions in the business. ARK Investment Management LLC purchased a new stake in GeneDx in the third quarter valued at $48,157,000. William Blair Investment Management LLC boosted its stake in shares of GeneDx by 37.2% in the second quarter. William Blair Investment Management LLC now owns 1,631,402 shares of the company’s stock worth $150,595,000 after buying an additional 442,414 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of GeneDx by 6,163.1% in the second quarter. Jennison Associates LLC now owns 397,896 shares of the company’s stock worth $36,730,000 after buying an additional 391,543 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings in GeneDx by 164.8% during the second quarter. Westfield Capital Management Co. LP now owns 589,188 shares of the company’s stock worth $54,388,000 after acquiring an additional 366,711 shares during the period. Finally, Franklin Resources Inc. raised its position in GeneDx by 101.9% during the third quarter. Franklin Resources Inc. now owns 681,381 shares of the company’s stock valued at $73,412,000 after acquiring an additional 343,954 shares in the last quarter. Institutional investors and hedge funds own 61.72% of the company’s stock.

GeneDx Company Profile

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.